Arsenal Medical snags $16 mln while 480 Biomedical picks up $10.5 mln

Watertown, Massachusetts-based Arsenal Medical, a maker of foam and nanofiber products, has secured $16 million in funding. The investors were Polaris Partners, North Bridge Venture Partners and Intersouth Partners. Also, 480 Biomedical, which spun out of Arsenal Medical and is a maker of bioresorbable scaffold products, has secured $10.5 in funding. The backers were the same as those who participated in Arsenal’s recent funding round.

Vascular Pharmaceuticals snares $9 mln

Research Triangle Park, North Carolina-based Vascular Pharmaceuticals Inc, a diabetes-focused pharmaceutical company, has secured $9 million in Series A funding. The investors included Lumira Capital, Intersouth Partners and MPM Capital. In addition to the funding, Dr. Beni Rovinski, managing director of Lumira Capital, has been added to VPI’s board of directors.

Advanced Animal Diagnostics closes $15 mln Series C funding

Advanced Animal Diagnostics, which makes on-farm diagnostic technologies, has raised $15 million in Series C funding co-led by Cultivian Sandbox and Kansas Bioscience Authority. The funding round included Laboratory Corporation of America Holdings, Middleland Capital and existing investors Intersouth Partners, Novartis Venture Funds and private individuals.

Proteon Therapeutics grabs $45 mln Series D

Proteon Therapeutics said Friday that it has raised $45 million in Series D financing. Abingworth led the round with participation from Deerfield Management Company, Pharmstandard International S.A., TVM Capital, Prism VentureWorks, Skyline Ventures, Intersouth Partners, MPM Capital, Devon Park Bioventures, Bessemer Venture Partners and the Vectis Healthcare and Life Sciences Fund. In addition to the funding, Tim Haines, a partner at Abingworth, and Dmitry Kobyzev, an investment manager at Inbio Ventures, have been added to Proteon Therapeutics’ board of directors. Headquartered in Waltham, Mass., Proteon Therapeutics is a biopharmaceutical firm focused on treating kidney and vascular diseases.

PeopleMatter Raises $19M, Led by Scale Venture Partners

PeopleMatter, a Charleston, S.C.-based maker of HR software, has raised $19 million in Series B funding, led by Scale Venture Partners, whose partner, Rob Theis, has joined the board. Previous PeopleMatter investors Intersouth Partners, Morgenthaler Ventures, Harbert Venture Partners, Noro-Moseley Partners, C&B Capital and Silicon Valley Bank also contributed to the funding.

Venture Funds Back PeopleMatter

PeopleMatter, a provider of talent management solutions, has secured a $14 million Series C funding round led by Morgenthaler Ventures. Existing investors Noro-Moseley Partners, C&B Capital, Intersouth Partners and Harbert Ventures also participated. PRESS RELEASE PeopleMatter, provider of the fastest-growing talent management solution (TMS) specifically designed for hourly workforces in the service industry, announced today […]

TransEnterix Closes $15 million Round

TransEnterix Inc. has closed a $15 million in venture capital financing. TransEnterix currently markets throughout Europe and the US a platform called the SPIDER® Surgical System. The funding is the second tranche of the company’s Series B financing secured in 2009. Aisling Capital, Quaker BioVentures, Intersouth Partners, Synergy Life Science Partners and SV Life Sciences […]

simplifyMD Inks $4.5M

simplifyMD, a provider of technology to manage electronic health records, has raised $4.5 million in fresh capital, and added Michael Brozino as president. Intersouth Partners, an early-stage venture firm based in North Carolina, led the Series A round. John Glushik of Intersouth Partners will join the company’s board.

Arsenal Medical Spins Off 480 Biomedical, Adds VC

Arsenal Medical, a Watertown, Mass.-based bio-pharma company, has spun out 480 Biomedical Inc. as a stand-alone company focused on the development of a bioresorbable scaffold for treating occlusive disease in the femoral artery. The company also announced a $15 million round for 480 Biomedical, which will be used to fund clinical studies. Also, a $3 million round for Arsenal Medical will be used to support its proprietary nanofiber-based drug delivery and therapeutic foam product platforms. Polaris Venture Partners, North Bridge Venture Partners and Intersouth Partners contributed to both rounds.

Adaptivity Inks $6M

Adaptivity, provider of IT blueprinting software, has closed on $6 million in fresh capital from Intel Capital, Intersouth Partners and Noro-Moseley Partners. The money will come in two $3 million tranches. In addition to the funding, the company announced that Lee Congdon, chief information officer of Red Hat Inc., has joined the company’s board. Adaptivity previously raised $10 million in an October 2010 round.

6fusion Seals $7M VC Round

6fusion, a maker of utility-metered public, private and hybrid cloud infrastructure management software, has closed on $7 million from Grotech Ventures and Intersouth Partners. Vienna, Vir.-based Grotech led the round, which will help the company continue technology development and sales and marketing, as well as fund a move of the business to Raleigh, N.C.

Semprius Raise $20M Series C From Siemens, ARCH, Applied, Others

Semprius, Inc. said Thursday it raised $20 million in a first tranche of a Series C round. Siemens Venture Capital led the investment round in the solar module maker and was joined by ARCH Venture Partners, Applied Ventures, Illinois VENTURES, Intersouth Partners, In-Q-Tel and GVC Investment. Semprius will use the funding to construct a pilot […]

Advanced Animal Diagnostics Inks $11M

Advanced Animal Diagnostics, a developer of technologies to diagnose farm animal diseases, has closed on $11 million in Series B financing. Intersouth Partners led the round, which included participation from Novartis Venture Funds and other, unnamed investors. The company will use the financing to continue development of its diagnostic tests. Advanced Animal’s first on-farm product will focus on improving milk production and quality by controlling mastitis, an infection of the milk-producing gland of cows.


LOC-AID Adds $13M Series C

Boca Raton, Fla.-based LOC-AID has raised $13 million in Series C financing. H.I.G. Ventures led the round, which included participation from Intersouth Partners, and the Florida Growth Fund, which is managed by Hamilton Lane. The new money will help LOC-AID expand its technology, which includes location-based services for fraud prevention, proximity marketing, asset management and check-in services.

Adaptivity raises $7.2 million in Series A financing

IT company Adaptivity has raised $7.2 million in Series A funding, which was co-led by Noro-Moseley Partners and Intersouth Partners. Adaptivity, based in Charlotte, North Carolina, will use the financing to develop its intelligent IT blueprinting software.

One Partner Leaves While Another is Promoted at Intersouth Partners

Garheng Kong, a longtime general partner with Durham, N.C.-based Intersouth Partners, has left to join another firm in California (one he has not disclosed publicly just yet). Filling Kong’s shoes will be Rick Kent, who is being elevated to GP from his part-time post as a venture partner — a role he first took with Intersouth in […]

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