Private Equity Week Wire for Tuesday 8/7

NEW YORK — Eyetech Pharmaceuticals, Inc., a privately-held biotechnology company dedicated to discovering, developing and commercializing novel drugs to reduce and prevent vision loss caused by eye disease, announced today that it recently closed a $108.5 million placement of its Series C Preferred Stock to a group of biotechnology and health care institutional investors led by J.P. Morgan Partners, LLC. Other investors include partners and affiliates of BB Biotech, MPM Capital, Alta Partners, Schroder Ventures, and Merrill Lynch. Eyetech’s Series C financing is one of the largest private financing rounds ever raised by a biotechnology company.
Eyetech is currently conducting Phase II/Phase III pivotal clinical trials in age-related macular degeneration (AMD) at 120 of the world’s leading medical centers. The financing proceeds will be used to fund the AMD clinical trials and to evaluate the safety and efficacy of Eyetech’s lead product, an anti-VEGF aptamer, to treat diabetic macular edema (DME).

MOUNTAIN VIEW, CA — Ejasent Inc., a Mountain View-based provider of industry-leading computer infrastructure management solutions, today announced that it has secured $15 million in additional funding. The round consists of investments from Ejasent’s existing venture backers including Crescendo Ventures, Technology CrossOver Ventures, Red Rock Ventures and Crystal Internet Ventures. This will bring the company’s total capital raised to more than $35 million.

STERLING, VA — Intersect Software, an innovative provider of enterprise engineering management (EEM) solutions that boost the efficiency of large engineering and product development organizations, announced that it has raised $18.4 million from Bessemer Venture Partners, BlueStream Ventures, Columbia Capital and additional investors. Bessemer and Columbia led Intersect’s $1.25 million seed round in March 2000.

MONTEREY PARK, CA — LightCross Inc., a leading integrated optical networking components company, announced the completion of a $30M Series B Preferred Stock financing, at a valuation well above the Company’s Series A financing. The LightCross Series B financing was led by UMC Capital, the venture capital arm of United Microelectronics Corp. (UMC) of Taiwan, a world-leading semiconductor foundry. Also participating in the round were Series A investors ComVentures, ARCH Venture Partners and JP Morgan Partners, strategic investors Asia Optical Technology Co. and RiTEK Corporation, and a number of prominent individuals from the telecommunications and semiconductor industries.
LightCross and UMC are also entering into a strategic relationship under which LightCross will utilize its proprietary technology to manufacture integrated photonics components and subsystems at UMC’s advanced foundry facilities.

NAUGATUCK, CT — Kenetec Inc., an innovator in the development of next generation broadband access communications systems, today announced it has raised $12 million in its second institutional round of funding, bringing the total investments to date up to $25.5 million. St. Paul Venture Capital led the round, with additional funding from new investor Siemens Mustang Ventures and existing investors Ascent Venture Partners and Commonwealth Capital Ventures. The company plans to utilize the additional funding to expand its sales organization and operations for continued rapid growth, and to further enhance its EdgeXpress(TM) product family which enables Integrated Communications Providers to deliver cost-effective broadband multimedia services to businesses located in multi-tenant facilities.

SAN FRANCISCO — Scale Eight Inc., a provider of global data storage solutions, announced today that it has secured $23 million in third-round funding from a group of leading venture capital firms. The funding will be used to advance the company’s operations, marketing and sales efforts in support of the Scale Eight Global Storage Service. The round was led by Oak Investment Partners. STAR Ventures participated as a new investor, joining existing backers InterWest Partners, CenterPoint Ventures, and Crown Advisors.

NEW YORK — Justwin Technologies Inc., a leading
provider of collaborative product commerce (CPC) solutions for the apparel,
textile, footwear, home furnishings, and fast-moving consumer goods
industries, today announced it has closed on $1.7 million in funding bringing
its total funding in the US to approximately $5.0 million in less than one
year. Bluestem Capital of Sioux Falls, South Dakota, was the lead investor in
both rounds bringing their investment in Justwin to approximately $3 million.
In addition, Momentum Ventures of Melbourne Australia, the lead investor in
Justwin’s initial round in 1999 out of Australia, participated in both US
rounds as well.

For yesterday