Deal round-up

Cyclacel fundraising passes $100m mark; Sanos lands €8m Series A round; 3i, Montagu lead $15m Searchspace round; Transatlantic funding for Pertinence Data; Sofinnova backs wireless start-up; Siemens spin-off lands €4.4m second round

Cyclacel fundraising passes $100m mark

Cyclacel, the UK-based biopharmaceutical company spun out of the University of Edinburgh, has completed a $39 million (£21.3 million; €30.7 million) Series D private placement with a global syndicate of new and existing institutional investors.

The placement, which was oversubscribed, involved 20 institutional investors and also certain individuals and managers. New investors were Société Générale Asset Management Alternative Investments (France), together with Carnegie Fund (Sweden), DC Thomson & Co (UK), NIF Ventures (Japan), Quest for Growth (Belgium) and UOB Venture Technology Investments (Singapore). Quester Capital Management (UK), Scottish Equity Partners (UK) and Temasek Holdings (Singapore) are among the firm’s original investors.

Paul McBarron, CFO of Cyclacel said: “This latest round brings the aggregate amount raised from private equity sources since starting operations six years ago to approximately $123 million. To our knowledge we are the first European university spin-out ever to raise over $100 million in private equity.”

Sanos lands €8m Series A round

Sanos Bioscience, a spin-out from Nordic Bioscience focusing on the development of a treatment for osteoporosis, has announced a DKr60 million (€8 million; $10.2 million) closing of a Series A equity financing. Scandinavian Life Science Venture and SEB Företagsinvest led the second round of financing.

SLS Venture, a Scandinavian-based venture capital company, is the result of the merger of the life science team from The Sixth Swedish National Pension Fund, Medicon Valley Capital and Innoventus. The fund is one of the largest investment funds in Scandinavia in the life science sector with €250 million under management.

3i, Montagu lead $15m Searchspace round

Searchspace, a leading supplier of integrated risk monitoring solutions to the global financial services market, today announced the raising of $15 million (£8.12 million; €11.8 million). The funding round was led by 3i and included Montagu Private Equity.

Founded in 1993, Searchspace supplies integrated risk monitoring solutions to many of the world's leading banks against fraud and money laundering. Customers include Barclays, The Bank of New York, Royal Bank of Scotland, UBS, Wells Fargo and the London Stock Exchange.

In April 2001, Searchspace received a £9 million (€13.8 million; $16.6 million) investment, comprising £5 million from HSBC Private Equity and £4 million from Friends Ivory & Sime Private Equity.

Transatlantic funding for Pertinence Data

Pertinence Data Intelligence, a French software company which specialises in developing data analysis solutions to optimise industrial processes, has raised a second round of funding of €3.4 million from its existing shareholders.

Partech International, a French venture capital firm that invests in the US and Europe, and Advent Venture Partners, have both committed to the second round, following an initial investment of €5 million in July 2002, taking their total investment in the company to €8.4 million.

“The additional capital will allow us to accelerate our development of solutions for the automobile, aerospace and pharmaceuticals industries,” said Pertinence's CEO Amélie Faure. “This new funding will allow us to start expanding the business to take advantage of new opportunities.”

Sofinnova backs wireless start-up

Sofinnova Partners has concluded the first round of fundraising for InfraWorlds, a wireless gaming company. The first round of seed capital, totaling €1.35 million ($1.7 million), will enable the startup to consolidate its technological lead in this market. Jean Schmitt, partner at Sofinnova, has joined InfraWorlds’ supervisory board. “InfraWorlds is an early stage company positioned in a fragmented high growth market.”

Siemens spin-off lands €4.4m second round

EnOcean, the radio technology company spun out of Siemens in 2001, has landed €4.4 million in financing from a consortium of new and existing investors. In addition to the company’s existing investors, Wellington Partners, Siemens Venture Capital, enjoyventure Management and BayTech Venture, 3i is now investing as a new co-lead investor.

“The field of building automation, alone, offers potential that totals more than 100 million radio switches and sensors,” said EnOcean CEO Markus Brehler: “This new round of funding affords us the opportunity of swiftly and rigorously leveraging these growth prospects.”