DiObex Inc., a San Francisco-based drug company focused on metabolic disorders like Type II diabetes, has laid off all its employees and is looking to sell its assets, according to VentureWire. The company had raised around $50 million in VC funding, from firms like Inventages Venture Capital, Mitsui & Co., Pac-Link BioVentures, Domain Associates, Pequot Ventures and Sofinnova Ventures. www.diobex.com
1 min read · 08 April 2009
FleetCor, a Norcross, Ga.-based provider of branded fuel cards, has raised $100 million in Series E funding. The round was raised in conjunction with FleetCor's recent acquisition of CLC Group Inc., a Wichita, Kansas-based provider of lodging management programs to businesses. Summit Partners led the round, and was joined by fellow return backers Advantage Capital and Advent International. New participants included Nautic Partners (prior owner of CLC), HarbourVest Partners and Performance Equity Management.
2 min read · 08 April 2009
Orthocon Inc., a North Brunswick, N.J.-based developer of intraoperative implant devices for the local delivery of therapeutics to bone, has raised $25 million in new VC funding. ProQuest Investments and return backer Canaan Partners co-led the round, and were joined by BB Biotech Ventures.
3 min read · 08 April 2009
JiWire, a San Francisco-based WiFi advertising network, announced that it had raised $11 million in Series B funding. peHUB first reported on the round last December. Panorama Capital led the deal, and was joined by COmcast Interactive Capital and DFJ Frontier.
4 min read · 08 April 2009
Stacy Kincaid has joined Vietnam-based VinaCapital Group as a managing director focused on capital-raising and fund structure efforts. She previously was with Probitas Partners.
3 min read · 08 April 2009
Sukhinder Singh Cassidy has joined Accel Partners as a CEO-in-residence. She previously was with Google, as president of Asia-Pacific and Latin American operations.
3 min read · 08 April 2009
3 min read · 08 April 2009
KeyNeurotek Pharmaceuticals AG, a German drug developer focused on autoimmune diseases and degenerative CNS disorders, has raised €8.2 million in Series C funding. Return backers include DVC Deutsche Venture Capital, IBG Beteiligungsgesellschaft and KfW.
3 min read · 08 April 2009
vSpring Capital has promoted Jon Walker to manager of marketing and investor relations. He originally joined the firm as an intern in 2006, spent time at a portfolio company and returned fulltime the following year.
2 min read · 08 April 2009
Aerovance Inc., a Berkeley, Calif.-based drug company focused on respiratory and inflammatory diseases, has raised $38 million in Series C funding. The deal is tranched-out, with $20 million called down and Aerovance having the option to call the remainder beginning in six months. ProQuest Investments led the round, and was joined by BB Biotech Ventures and return backers Apax Partners, Clarus Ventures, Alta Partners, Lehman Brothers, NGN Capital and Burrill & Co. It had previously raised $92 million in equity and $10 million in debt.
3 min read · 07 April 2009
