Sequel Pharmaceuticals, a San Diego-based developer of a drug candidate for the treatment of atrial fibrillation, has raised $20 million in Series A funding. Sequel recently spun out of NovaCardia, following that company's acquisition by Merck & Co.The $20 million came from past NovaCardia backers Domain Associates, Forward Ventures, InterWest Partners, Montreux Equity Partners and Skyline Venture.
PPLive Inc., a China-based operator of a P2P video site, has raised $21 million in Series B funding. Draper Fisher Jurvetson led the deal, and was joined by affiliate DFJ Dragon and return backers BlueRun Ventures. www.pplive.com
Mitel Networks Corp., an Ottawa-based provider of integrated communications solutions and services for business customers, has withdrawn its proposed US$150 million IPO. Mitel said its decision was “in light of the company's recently-completed acquisition of Inter-Tel (Delaware) Inc.” Company shareholders include EdgeStone Capital Partners. www.mitel.com
TMP Worldwide Advertising & Communications LLC, a New York
Dewey Ballantine LLP and LeBoeuf, Lamb, Greene & MacRae LLP announced that both partnerships have approved a merger of the two law firms, which will take effect on October 1. The combined organization will operate as Dewey & LeBoeuf LLP, and will feature more than 1,300 attorneys in 12 countries. www.deweyballantine.com www.llgm.com
Scott Lang has joined City Capital Advisors, a Chicago-based middle-market I-bank formed last year, as a managing director. Lang is the former co-founder and CEO of Brown Gibbons Lang & Company. www.city-cap.com
Carlos Ferrer has joined Nauta Capital of Spain as a partner. He previously had run the VC division of Riva y Garcia. www.nautacapital.com
AEA Investors has hired Goldman Sachs to explore a sale of portfolio company Burt's Bees Inc., a Durham, N.C.-based maker of personal care products like lip balm. The news was first reported by The Deal, which said buyers may pay up to $1 billion. www.burtsbees.com
Sentinel Capital Partners has completed its sale of MetroCare Dental to American Dental Partners Inc. (Nasdaq: ADPI) for $85 million in cash. MetroCare Dental is a multi-specialty dental group with 34 dental facilities in the Minneapolis-St. Paul area. www.sentinelpartners.com
Golub Capital has promoted Sean Coleman and Stefano Robertson to the position of principal. Coleman is based in New York, and originally joined Golub as a vice president after having founded niche merchant bank Commonwealth Principals. Robertson is based in Chicago, and had joined Golub after eight years with Antares Capital Corp. www.golubcapital.com