CTI Life Sciences Fund related stories
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Xagenic Seals $990KXagenic Inc., a privately held molecular diagnostics company, has raised up to $990,000 in funding from the Government of Canada. The money will help fund design and development efforts. Xagenic is based in Toronto.
- FedDev Provides Funding to VC-Backed Xagenic
Xagenic Inc., a molecular diagnostics-focused startup company, has secured up to C$990,000 in funding from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). The proceeds of the FedDev investment will help facilitate the company's development of its lab-free molecular diagnostic testing system. Xagenic, which is based in Toronto, has been backed by Canadian venture capital firms since 2010. Its investors include CTI Capital, MaRS Investment Accelerator Fund, and Ontario Emerging Technologies Fund.
- Xagenic Seals $10M Series A
Xagenic Inc., a molecular diagnostics company spun out of the University of Toronto, has raised $10 million in Series A financing co-led by CTI Life Sciences Fund and the Ontario Emerging Technologies Fund. QIAGEN N.V. also participated in the round. Toronto-based Xagenic will use the funds to continue development of its technology for decentralized, rapid diagnostic testing.
- Alexion Pharmaceuticals Buys Enobia Pharma
Alexion Pharmaceuticals Inc. will pay $610 million in cash – and as much as $470 million in future milestone-based payments - to acquire Enobia Pharma Corp. Enobia is a biopharma company developing therapies to treat patients with ultra-rare and life-threatening genetic metabolic disorders. Enobia closed /115393/enobia-pharma-closes-on-40m/ a $40 million round earlier this year, and was backed by investors including OrbiMed Advisors, CTI Life Sciences Fund, Desjardins Venture Capital and Lothian Partners.
- Zymeworks Inks $8.1M
Vancouver-based Zymeworks Inc., a biotech company focused on protein-based therapeutics, has raised a total of $8.1 million. CTI Life Sciences Fund and Advanced Biotechnologies Venture Fund are among the investors. The money will be used for continued development.
- Enobia Pharma Closes on $40M
Enobia Pharma Inc., a Montreal-based biotech company developing therapeutics for bone disorders, has closed a $40 million round. The company’s backers include OrbiMed Advisors, CTI Life Sciences Fund, Desjardins Venture Capital and Lothian Partners. BofA Merrill Lynch acted as the exclusive placement agent to the company.
- NeurAxon Closes a Convertible Debt Financing Deal
NeurAxon Inc. closed a convertible debt financing. The Canadian developer of next-generation pain therapeutics said the debt can be exchanged for class B preferred shares for a total of about $14 million. CTI Life Sciences Fund, the Ontario Capital Growth Corp., Delphi Ventures, OrbiMed Advisor, LLC, Ventures West Capital Ltd., H.I.G. Ventures, BDC Venture Capital, NeuroVentures Fund and NeurAxon CEO Lawrence Bloch were investors.
- Week in deals, July 5, 2010
Summary of tech companies and other startups in North America that raised venture financing in the past week
- Zymeworks Closes $3.2 Mln round
Zymeworks Inc. , a Vancouver-based antibody-based therapeutics startup, has raised C$3.2 million in new VC funding led by return backer CTI Life Sciences Fund.