Salveo Completes Additional Financings and Acquisition

Specialty pharmacy company Salveo Specialty Pharmacy has completed a second round of equity and debt funding and the subsequent acquisition of Mission Road Pharmacy. Salveo Specialty Pharmacy is backed by Three Arch Partners, NewSpring Capital and Petra Capital Partners. The additional equity financing was led by new investor Sofinnova Ventures. The debt financing included additional subordinated debt provided by Petra, as well as a new senior credit facility provided by Regions Bank.

Volcano to Acquire Crux Biomedical

Volcano Corporation, a manufacturer of precision guided therapy tools to enhance the treatment of coronary and peripheral vascular disease, has signed an agreement to acquire Crux Biomedical. Under terms of the agreement, Volcano will pay $36.0 million in cash at closing. Crux Biomedical has been funded by Alloy Ventures, Three Arch Partners, Emergent Medical Partners and Thomas Fogarty, M.D.

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.

Neuronetics Nets $30M Series E

Neuronetics, the Pennsylvania-based maker of non-invasive, non-systemic treatments for depression, completed a $30 million Series E financing. New investors Polaris Venture Partners and Pfizer Venture Investments led the round and were joined by previous investors Investor Growth Capital, New Leaf Venture Partners, Interwest Partners, Three Arch Partners, Quaker BioVentures, and Onset Ventures.

Will the Frosty Reception for AcelRX Put Other IPOs on Ice?

Life can be hard for young biotechs, but that doesn’t mean the market is sympathetic.  AcelRX Pharmaceuticals of Redwood City, Calif., is the latest biotech to receive a cold reception from investors. After slashing its planned offering price from between $12 and $14 to $5 per share, the stock has been trending downward since its debut […]

Hotspur Proves It’s Possible to Do a Very Low-Cost Medical Device Company

If you blinked a few weeks ago, you might’ve missed a press release by VC-backed Hotspur Technologies. The Mountain View, Calif.-based company, which makes catheters for kidney dialysis and other medical devices in the vascular space, quietly announced that it received FDA clearance for the first three of its commercial products. The approval process took […]

APT Pharma Raises $32 Million

APT Pharmaceuticals Inc., a Burlingame, Calif.-based developer of inhaled treatments for serious lung diseases, has raised $32.3 million in Series B funding. Three Arch Partners led the round, and was joined by InterWest Partners, Pinnacle Ventures and return backers Charter Life Sciences, Great Point Partners, Versant Ventures and Vivo Ventures. It had previously raised around $33 million.

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