Venture capitalist John Doerr shows a flexible solar panel during a panel discussion at the 2006 TechNet Innovation Summit at the Stanford University Memorial Auditorium in Stanford, California, November 15, 2006. REUTERS/Dino Vournas

PE HUB First Read

First Read kicks off the morning with news that Celgene is planning on acquiring Receptos for $7.2 billion, Uber settles a wrongful death lawsuit in San Francisco and Kleiner Perkins’ John Doerr says VCs are “pathetic” for excluding women.


Flexus Biosciences rakes in $38 mln Series B

Flexus Biosciences has raised $38 million in Series B funding. The investors were Kleiner Perkins Caufield & Byers, The Column Group and Celgene. Also, the firm has named Dr. David Goeddel, a managing partner at TCG, to its board of directors and Dr. Alexander Rudensky as chairman of its clinical and scientific advisory board. Based in San Carlos, Calif., Flexus is a cancer immunotherapy firm.

Acceleron Pharma Inks $30M

Cambridge, Mass.-based Acceleron Pharma Inc. has raised $30 million in financing. The company said that strategic partner Celgene contributed to the round, along with “all other existing investors.” Acceleron has raised capital from Advanced Technology Ventures, Alkermes, Avalon Ventures, Bessemer Ventures, Celgene, Flagship Ventures, MPM BioEquities, OrbiMed Advisors, Polaris Ventures, QVT Financial, Sutter Hill Ventures and Venrock. The new funds will be used to expand the company’s clinical stage pipeline.

Celgene Buying Gloucester Pharma For Up To $640 Million

Celgene Corp. (Nasdaq: CELG) has agreed to acquire Gloucester Pharmaceuticals, a Cambridge, Mass.-based developer of oncology drugs. The deal is valued at up to $640 million, including a $340 million up-front cash payment and up to $300 million in earn-outs. Gloucester Pharma had raised over $130 million in VC funding, from firms like Apple Tree Partners, Novo AS, ProQuest Investments, Prospect Venture Partners and Rho Ventures.

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