Borqs Inc., a Beijing-based developer of open-source mobile software for wireless service providers, has raised $17.6 million in Series B funding. Norwest Venture Partners led the round, and was joined by return backers GSR Ventures and Keytone Ventures. The company previously raised around $6 million.
3 min read · 10 July 2009
2 min read · 09 July 2009
Synovis Life Technologies Inc. (Nasdaq: SYNO) has agreed to acquire the assets of Pegasus Biologics Inc., an Irvine, Calif.-based developer of bioimplants for soft-tissue repair and wound care for diabetic ulcers. The deal is valued at $12.1 million in cash. Pegasus ceased operations earlier this year, after being unable to secure new financing. It had previously raised $32 million over three funding rounds, from Onset Ventures, Affinity Capital Management, Three Arch Partners and Frazier Healthcare Ventures.
5 min read · 09 July 2009
Clash-Media, a London-based provider of online lead generation, has raised £1.3 million in new VC funding from MMC Ventures.
3 min read · 09 July 2009
SolFocus Inc., a Palo Alto, Calif.-based developer of solar concentrator photovoltaic systems, today announced that it has expanded its Series C round to $77.6 million. The company had previously announced a $47 million first close, although peHUB reported in February that the round had expanded to around $67 million. Demeter Partners and affiliates of Advanced Equities came in as new investors, while the round also include Apex Venture Partners, New Enterprise Associates, NGEN Partners and Yellowstone Ventures. SolFocus previously raised nearly $100 million in its Series A and Series B rounds.
3 min read · 09 July 2009
iZumi Bio Inc., a South San Francisco-based regenerative medicine company that uses induced pluripotent stem (iPS) cells, has merged with fellow stem cell company Pierian Inc. The merger is being financed by $11.5 million in new capital, including $10 million from existing Pierian backer MPM Capital. iZumi had previously raised $20 million from Highland Capital Partners and Kleiner Perkins Caufield & Byers. The combined company will be named iPierian Inc.
7 min read · 09 July 2009
2 min read · 09 July 2009
Allostera Pharma Inc., a Montreal-based biopharma startup, has raised C$17 million in Series A funding. Backers include iNovia Capital, Genesys Capital, BDC Venture Capital and GO Capital.
6 min read · 09 July 2009
Intellikine Inc., a La Jolla, Calif.-based developer of small molecule drugs for cancer, inflammation and autoimmune diseases, has raised $51 million in Series B funding. Novartis Bioventures led the round, and was joined by U.S. Venture Partners, Biogen Idec and FinTech Global Capital. Return backers included Abingworth, CMEA Capital and Sofinnova Ventures. The round includes a $28.5 million initial calldown, with the remainder dependent on the achievement of certain milestones. Intellikine previously raised $12.5 million.
3 min read · 09 July 2009
PlanarMag Inc., a West Sacramento, Calif.-based maker of planar electromagnetic computer components, has raised an undisclosed amount of Series B funding. Tyco Electronics led the round, and was joined by return backers American River Venture. PlanarMag also secured a credit facility from Five Star Bank.
3 min read · 09 July 2009
