Citigroup Venture Capital International and fellow investor Partners in Life Sciences are believed to be interested in selling their stake in Turkish copycat drugmaker Biofarma, according to Reuters. The pair bought Biofarma for $200 million in 2007 and later sold a stake to Global Finance, a Greek private equity firm. Biofarma has met with investment bankers and advisors, with valuations of the company ranging from $500 million to $1 billion.
1 min read · 12 October 2010
Accent completed a €5 million financing round from Tallwood Venture Capital of Palo Alto, Calif. Accent said it plans to use the capital to accelerate development and production of key communication technologies for system-on-chip solutions required by Smart Meter and Smart Home applications. Accent is also backed by Sofinnova Partners.
3 min read · 12 October 2010
Skyline Financial Corp. secured $8.2 million via a Series B funding. Los Angeles-based GRP Partners led the round. Chaparal Investments and Dallas Capital Management Inc. participated in the financial of the California-based direct mortgage lender. Skyline plans to use the capital to expand its mortgage origination capacity, to hire more staffers and for acquisitions of mortgage brokerage firms.
3 min read · 12 October 2010
BioSystem Development closed an investment round with $978,000 in funding. The Madison, Wis.-based life science analytics company plans to use the capital to expand its manufacturing infrastructure and to launch new products. The financing came from existing investors and new angel investors from California, Illinois, New York, North Carolina and Wisconsin.
2 min read · 12 October 2010
Synosia Therapeutics raised $30M in a Series C financing round. UCB was a new investors in the Switzerland-based biotherapeutics company that is focused on neurology and psychiatry. It invested $20 million. Existing investors Versant Ventures, 5Am Ventures, Novo A/S, Aravis Venture, Investor Growth Capital and Swiss Helvetia Fund invested the other $10 million. UCB’s President of North American Operations Greg Duncan and Executive Vice President of Drug Discovery and President of UCB New Medicines Ismail Kola will serve as Synosia directors.
2 min read · 12 October 2010
RocketRoute.com, a UK-based aviation navigation company, has reaised 220,000 pounds ($319,000) of investment from the Thames Valley Investment Network. The TVIN is an angel investment network based in Reading and the Thames Valley. RocketRoute.com will be using the money to take its online flight-planning service to market.
5 min read · 11 October 2010
Ernie Richardson, a partner at venture capital firm MTI Partners, has resigned from the board of Sarantel Group, a manufacturer or antennas for mobile and wireless devices. Richardson joined the board in 2006.
1 min read · 11 October 2010
TriReme Medical, which develops catheters and stents for treating vascular disease, has raised $17 million in Series D financing. The funding was led by new investor Bio*One Capital (a subsidiary of Singapore based EDB Investments) as well as return investors Three Arch Partners and Adams Street Partners. The money will be used to ramp-up commercial activities, fund R&D, and seek regulatory approval for products in the US, Japan, and China.
3 min read · 11 October 2010
NitroSecurity, a computer security company, has raised $6 million in Series B funding, co-led by return investors Brookline Venture Partners, First Analysis and NewSpring Ventures. The money will be used to expand the company’s market presence, develop its product, and to fund acquisitions.
2 min read · 11 October 2010
ALung Technologies Inc. closed a $14 million Series A funding round. Eagle Ventures Inc. led the financing. Birchmere Ventures also participated. ALung Technologies, a Pittsburgh, Pa.-based medical device company, plans to use the capital to support clinical trials for its Hemolung Respiratory Assist System.
2 min read · 11 October 2010
