Verdezyne inks $48 mln, formalizes funding in ceremony attended by President Obama

Verdezyne, an industrial biotech firm in Carlsbad, Calif., has secured $48 million in funding. Malaysian multinational conglomerate Sime Darby Berhad led the round with participation from BP Alternative Energy Ventures, DSM Venturing B.V., OVP Venture Partners and Monitor Ventures. The funding was made official Monday in a ceremony in Malaysia attended by President Barack Obama and Malaysian Prime Minister Dato’ Sri Najib Razak.

NanoString Technologies Prices IPO; VC firms Clarus, DFJ and OVP Poised for Payout

Venture-backed NanoString Technologies Inc. on Tuesday said that it is pricing its initial public offering of 5.4 million shares at $10 per share. The company, which makes life science tools for translational research and molecular diagnostic products, has raised a total of $82 million in venture capital since its founding in 2003. Clarus Ventures, Draper Fisher Jurvetson and OVP Venture Partners as a group own 7.4 million pre-IPO shares, or 79% of the company, according to its S-1 filing.

Adapx Completes New, $3M Round

Adapx, a Seattle-based company whose software aims to speed data capture and collaboration by turning natural speech, sketch, and handwriting into actionable data in Microsoft Office and other back-end systems, has raised $3 million from existing investors OVP Venture Partners, Paladin Capital Group, Pelion Ventures, and Northwest Tech Ventures.

NanoString Technologies Completes Series E

NanoString Technologies, a provider of life science tools for translational research and developer of molecular diagnostic products, has completed a $15.3 million Series E Preferred Stock issuance. New investors in the transaction included Morgan Stanley Expansion Capital and AllianceBernstein Alternative Investment Management Group. All previous venture investors participated including Clarus Ventures, Draper Fisher Jurvetson, OVP Venture Partners, GE healthymagination Fund, BioMed Ventures, and Henri Termeer.

NanoString Technologies Appoints New CFO

NanoString Technologies, a provider of life science tools and developer of molecular diagnostics, has appointed James A. Johnson as the company’s new chief financial officer. Johnson assumes this role from Wayne Burns who will remain with the company in his new position as senior vice president, operations and administration. NanoString Technologies is backed by GE, BioMed Ventures, Clarus Ventures, Draper Fisher Jurvetson and OVP Venture Partners.

W Fund Officially Launches to Invest in Washington-Based Start-ups

Seattle-based W Fund, a $20 million, university-focused  fund that officially closed on May 31, officially launched today, according to its managing directors. The fund aims to back startups spun out of the University of Washington and other state research institution and its decisions will be made by an investment committee that Tom Alberg and Greg […]

Fate Therapeutics Appoints chairman and interim CEO

San Diego headquartered biotech company Fate Therapeutics has appointed William H. Rastetter as chairman and interim CEO. Rastetter is also a partner in venture capital firm Venrock. Fate Therapeutics has secured venture backing from OVP Venture Partners, Astellas Venture Management, Genzyme Ventures, ARCH Venture Partners, Polaris Venture Partners and Venrock. PRESS RELEASE Fate Therapeutics, Inc. […]

Groove Biopharma Raises $6 Mln

Groove Biopharma has raised $6 million in series B financing from Alexandria Venture Investments, ARCH Venture Partners, OVP Venture Partners, Versant Ventures, and WRF Capital. Seattle-based Groove Biopharma is a privately held biotech.

Aruba Networks Buy VC-Backed Avenda Systems

Avenda Systems, a network security company backed by OVP Venture Partners, has been acquired by publicly traded Aruba Networks Inc. Terms of the deal were not released. Avenda employees join Aruba at its campuses in Sunnyvale, Calif., and Bangalore, India, the company said.

NanoString Inks $20M Series D

Seattle-based NanoString Technologies, a provider of tools for translational research and developer of molecular diagnostics, has raised $20 million in Series D financing. New investors include GE; BioMed Ventures; and Henri Termeer, the former chief executive of Genzyme Corp. All previous venture investors in NanoString also participated in the financing, including Clarus Ventures, Draper Fisher Jurvetson and OVP Venture Partners, the company said.

Lucid Commerce Sees $8M C Round

Lucid Commerce, the TV targeting and measuring company, raised $8 million from a group of investors including Rho Ventures, StarVest Partners, Positec USA, OVP Venture Partners and Greycroft Partners LLC. Rho led the round. Doug McCormick, venture partner at Rho Ventures, will join the company’s board as part of the transaction.

Oncofactor, Spun Out of Seattle’s Accelerator Corp., Lands Series A

Oncofactor, a cancer research company that was developed with the help of Seattle-based investment firm and incubator Acclerator Corp., has raised a $2.1 million of a $5.1 million Series A, according to an SEC filing. Accelerator was joined in Oncofactor’s funding by OVP Venture Partners, Alexandria Real Estate Equities; Amgen Ventures; ARCH Venture Partners; and […]

Adapx Inks $5M in Fresh Capital

Seattle-based Adapx has closed on $5 million in new funding from Kirkland, Wash.-based OVP Venture Partners, Washington D.C.-based Paladin Capital Group, and Salt Lake City-based Pelion Venture Partners. The company’s Capturx software is designed to instantly capture data from paper with digital pens. In addition to expanding the Capturx product line, Adapx will use the new funds to expand the Capturx multimodal product line used by the military. That technology is designed to help the military input data into digital mapping and other intelligence systems by simply sketching on paper, touchscreen devices, or by speaking as they sketch on wall displays, the company said.

Verdezyne Adds VC Financing

Carlsbad, Calif.-based Verdezyne Inc. has closed on an undisclosed amount of new funding from BP Alternative Energy Ventures, DSM Venturing B.V., OVP Venture Partners and Monitor Ventures. Terms of the round were not released. Verdezyne is an industrial biotech company developing processes for the production of renewable fuels and chemicals.


Venture Investing Rises In 2010 For First Time In 3 Years

Venture investing regained its footing in 2010 as a two percent rise in fourth quarter funding led the full year’s total to an annual increase for the first time since 2007. The year saw U.S. venture capitalists put $21.8 billion into 3,277 startups, a 19% increase from 2009. First time financings, a key measure of […]

From the Filings…

Guilford, Conn.-based online advertising start-up uKnow has raised roughly half of a planned $1 million funding round, according to a filing with the SEC. Angel investor Geoff Judge, who is also a partner with iNovia Capital, is listed among the company’s directors. Pittsburgh-based Neograft has raised $3 million according to an SEC filing. Neograft develops […]

CradlePoint Closes $7.5 Mln Funding Round

CradlePoint Technology said Tuesday that it has closed a $7.5 million Series B venture round of funding. OVP Venture Partners led the round which also included current investor Highway 12 Ventures. Boise, Idaho-based CradlePoint makes cellular routers and software platforms for 3G and 4G mobile broadband networks.

Carbonflow Inks $4.2 Million Series B

San Francisco-based Carbonflow has raised $4.2 million in a second round of financing led by Kirkland, Wash.-based OVP Venture Partners. Waltham, Mass.-based @Ventures and San Francisco-based Clean Pacific Ventures also invested in the round. Carbonflow provides a software service designed to track and manage carbon reduction projects.

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