MENLO PARK, CA — Entelos Inc., the leader in predictive biosimulation for in silico drug discovery and development, announced today that the company has raised over $25 million through a private placement of its equity securities. Bear Stearns Health Innoventures L.P. led the Series C financing, which included new investors Earlybird, equity4life, and Compaq Computer Corporation. All previous venture capital investors, including Abingworth Ventures, Boulder Ventures, Brentwood Ventures, Charles River Ventures, and St. Paul Ventures, also participated in this round.
NORRISTOWN, PA — Vertical Alliance Inc. announced today that it has received $2.6 million in equity financing led by Brooks Capital Group, LLC, based in Bala Cynwyd, PA. Other participants include RAF NetVentures, of Jenkintown, PA, which led Vertical Alliance’s $4 million initial round of financing, announced in July 2000.
Proceeds from the investment will be used to expand the sales and marketing of Vertical Alliance’s Web-based development platform, Vertical Tracker(TM), to key vertical markets. Vertical Tracker provides large, diversified organizations the means to develop fully integrated Web-based applications for the seamless management of e-commerce, content management and customer relationship management (CRM).
HERNDON, VA & EL DORADO HILLS, CAVANCOUVER – Inex Pharmaceuticals Corp. (TSE:”IEX”) and Protiva Biotherapeutics Inc. announced today that Protiva has signed a $14.5 million equity financing agreement with leading venture capitalists and other private investors allowing Protiva to pursue its business objective of developing and commercializing novel drugs based on gene-delivered therapeutic proteins to fight cancer and inflammatory diseases. The financing will be completed in two tranches. The first tranche, representing 60% of the financing, has been completed. The closing of the second tranche is dependent on the completion of certain milestones.
LA JOLLA, CA — Bitfone Corp., a software infrastructure provider for the mobile Internet, announced today the completion of a $6 million series A round of equity financing led by Nokia Venture Partners.
Nexit Ventures and IncubASIA also participated in the round. In addition, Bitfone announced that John Malloy, partner of Nokia Venture Partners, Antti Kokkinen, partner of Nokia Venture Partners, and Michel Wendell, general partner of Nexit Ventures, have joined the company’s Board of Directors. Bitfone will use the capital to enhance the capabilities of its iBroker(TM) multimedia access and messaging software infrastructure for wireless carriers, and expand sales and marketing efforts in Europe and Asia Pacific. In a separate press release, Bitfone announced its iBroker software infrastructure that provides global wireless carriers with a new class of media-rich messaging and personal content services.
BOUCHERVILLE – Lysac Technologies Inc. announced today that SGF Sante, a subsidiary of the Societe generale de financement du Quebec, CDP Acces Capital, a subsidiary of CDP Capital and Investissement Desjardins, the venture capital subsidiary of Mouvement Desjardins, have jointly invested a total of $8 million in the company. Founded in 1998, Lysac is a specialized technology company that researches, develops and creates commercial applications for renewable super-absorbent polymers.
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