Deal round-up 16/07/03

Benchmark, Atlas back Shell spin-off; Polytechnos, ING back Belgian genomics business; JPMorgan, Merlin lead £8m Piramed round, Gimv leads Elixent second round

Benchmark, Atlas back Shell spin-off


Kalido, a UK-based data warehousing and data management software provider, has raised $18m in venture capital after it was spun off from its parent, the Royal Dutch Shell Group.


Benchmark Capital and Atlas Venture have provided the funding in return for what Kalido described as a “substantial stake” in the business. The money is intended to help accelerate Kalido's growth in the business intelligence and data warehousing market in the United States and Europe as well as to improve new product development.


Christopher Spray, senior principal at Atlas Venture, said: “Kalido's software helps large companies improve business performance. In a short period of time the company has achieved a remarkable list of blue chip customers, and we look forward to supporting their further expansion through our network of offices in the US and Europe.'


The company also announced that Bob Potter, formerly executive VP of business operations with Iona Technologies PLC, has been named Kalido's new CEO. Founder Andy Hayler continues as Kalido's chief strategist.


Polytechnos, ING back Belgian genomics business


OncoMethylome Sciences, the Belgian-US developer of cancer detection technologies formerly known OncoGenome Sciences, has completed a E14m financing round from a group of European financial investors. The shareholders include Polytechnos Venture Partners, ING Belgium, Life Sciences Partners and three Belgian venture capital funds: Technowal, Meusinvest and SIBL.


JPMorgan, Merlin lead £8m Piramed round


JPMorgan Partners, the private equity arm of JP Morgan Chase, and Merlin Biosciences have completed a series A investment of £8m in Piramed, a new company focused on developing breakthrough anticancer therapeutics.


The scientific foundation of Piramed is built on research and discoveries made by Professor Michael Waterfield at the Ludwig Institute of Cancer Research and Professors Peter Parker and Paul Workman of the Cancer Research UK Centre for Cancer Therapeutics at the Institute of Cancer Research.


Srinivas Akkaraju and Philip Rattle, both partners at JPMorgan Partners, and Sue Foden, a director at Merlin Biosciences, have been appointed to the Piramed board of directors. “Piramed represents a unique opportunity to build a company around world class scientists who have already made significant progress in developing potent and selective inhibitors to one of the most interesting targets in oncology today,” said Akkaraju.


Gimv leads Elixent second round


Elixent, a Bristol-based reconfigurable semiconductor IP business, has closed a funding round of $10m. The round was led by new investors GIMV, the Belgian venture capital provider, as well as NIF Ventures. Also included was founding investor 3i. The financing will be used to expand the firm’s engineering group and to speed up the rollout of its technology to existing and prospective major international customers.