Orexo AB (Nasdaq: ORX) has acquired PharmaKodex Ltd., a UK-based developer of oral and transdermal drug delivery technologies. No financial terms were disclosed. PharmaKodex had raised around $13.5 million in VC funding from firms like S.R. One Ltd., the VC unit of GlaxoSmithKline.
3 min read · 23 February 2009
Rally Software Development Corp., a Boulder, Colo.-based provider of on-demand application life cycle management solutions, has secured an $8 million credit facility from Square 1 Bank. Rally Software previously raised over $35 million in VC funding, from firms like Mohr Davidow Ventures, Boulder Ventures, Mobius Venture Capital and Vista Ventures.
3 min read · 23 February 2009
Medtronic Inc. (NYSE: MDT) has acquired Ventor Technologies Ltd., an Israel-based developer of transcatheter heart valve technologies for the treatment of aortic valve disease. The deal is valued at $325 million. Ventor had raised over $13 million in VC funding from Medtronic and Pitango Venture Capital.
2 min read · 23 February 2009
Medtronic Inc. (NYSE: MDT) has agreed to acquire CoreValve, an Irvine, Calif.-based maker of medical devices for percutaneous heart valve replacement. The deal includes a $700 million up-front payment, plus the possibility of milestone-based earnouts. CoreValve has raised around $63 million in VC funding since 2003, from firms like Apax Partners, HealthCap, Maverick Capital and Sofinnova Partners.
2 min read · 23 February 2009
Westec Intelligent Surveillance, a Dallas-based provider of remote video monitoring services, has raised $20 million in private equity funding. Argonaut Private Equity and Egis Capital Partners co-led the round, and were joined by existing shareholders like Clarity Partners.
3 min read · 23 February 2009
IndoorDirect, an Addison, Texas-based out-of-home media network for the fast food and casual dining markets, has raised $22.5 million in Series B funding. Syncom Venture Partners led the round, and was joined by Northwood Ventures and Poseidon Enterprises. Challenger Capital Group served as placement agent.
3 min read · 20 February 2009
Social Solutions, a Baltimore-based provider of nonprofit performance management software, has raised $6.5 million in second-round funding. Frontier Capital led the round, and was joined by return backers WWC Capital Group and IDEA Fund Partners.
3 min read · 20 February 2009
Merit Medical Systems Inc. (Nasdaq: MMSI) has agreed to acquire the assets of Alveolus Inc., a Charlotte, N.C.-based maker of non-vascular interventional stents. The deal is valued at $19 million. Alveolus had raised over $28 million in VC funding, from firms like Clayton Associates, MB Venture Partners, Lumira Capital Corp., Matignon Investissement et Gestion and HealthCare Capital Partners.
4 min read · 20 February 2009
Coghead Inc., a Mountain View, Calif.-based provider of a Web-based application creation and delivery platform, has ceased operations and sold its intellectual property to SAP. The company had raised around $12 million in VC funding from American Capital Strategies, El Dorado Ventures and SAP Ventures. www.coghead.com
1 min read · 20 February 2009
Pocket Communications Northeast, a San Antonio, Texas-based provider of flat-rate, unlimited use wireless voice and data services, has secured a $25 million senior secured credit facility. The Bank Street Group served as Pocket’s financial advisor and placement agent. Last November, Pocket raised $100 million in Series A funding from Battery Ventures, Charles River Ventures and Pocket CEO Paul Posner.
3 min read · 20 February 2009
