Takeda Pharmaceutical Company, a listed, Japanese pharmaceutical research company, is buying venture-backed Intellikine Inc. Takeda will pay $190 million in cash, and up to $120 million in additional milestone payments. Intellikine was backed by at least $41 million from venture investors including Abingworth, BiogenIdec, CMEA Capital, Fintech Global Capital, Novartis Venture Funds, Sofinnova Ventures and U.S. Venture Partners.
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Biopharma company Intellikine Inc. has sealed $4 million in new milestone payments as it begins two Phase 1 clinical trials of its drugs. The company, based in La Jolla, Calif., is backed by $41 million from venture investors including Abingworth, BiogenIdec, CMEA Capital, Fintech Global Capital, Novartis Venture Funds, Sofinnova Ventures and U.S. Venture Partners.
Sofinnova Ventures has closed its eighth fund, Sofinnova Venture Partners VIII, with a total of $440 million in commitments and a sharpened focus on clinical-stage drug companies. The firm began fundraising in February, and held a first close four months later, says general partner Garheng Kong. Unlike the firm’s previous fund, which included investments in [...]
Blyk, a mobile ad firm, has promoted chief commercial officer Eric Kip to the post of chief executive, replacing Blyk cofounder Pekka Ala-Pietila. Blyk, which has offices in Helsinki, London, Amsterdam, and Delhi, has raised €87M since its 2006 founding, including from Sofinnova Ventures, Goldman Sachs, and Nexit Ventures. REUTERS: Blyk, a pioneer in the mobile-telephone advertising business, said [...]
Allergan is buying privately held dermatology company Vicept Therapeutics. Formed in 2009, Vicept is backed by investors including Vivo Ventures, Fidelity Biosciences and Sofinnova Ventures. Under the terms of the acquisition, which is expected to close during the third quarter, Allergan will pay $75 million in cash up-front, as well as up to $200 million in payments tied to specific milestones.
Brisbane, Calif.-based SARcode Bioscience has closed on $44 million in Series B financing, led by Sofinnova Ventures. Rho Ventures also participated, as did existing investors Alta Partners and Clarus Venture Partners. The money will go toward clinical development of the company’s treatment for dry eye syndrome.
Sorbent Therapeutics, the California-based biopharmaceutical company, took $36 million from a group of VCs, the company announced. Investors include Novartis Venture Funds, which led the financing, joining existing investors Sofinnova Ventures, ARCH Venture Partners, CMEA Capital and AgeChem. The deal brings Sorbent’s total funding to $53 million.
Aerie Pharmaceuticals Inc., a biotechnology company focused on medical innovations in ophthalmology, has closed $30 million in Series B financing. Clarus Ventures and Sofinnova Ventures co-led the round, with participation from Osage University Partners and existing investors Alta Partners and TPG Biotech. Aerie Pharmaceuticals has offices in Research Triangle Park, N.C. and in Bridgewater, N.J.