Versant Ventures related stories
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Versant Ventures expands investment teamVersant Ventures has made several appointments on its investment team to prepare for the launch of its newest fund. They are Clare Ozawa, who has been named managing director, San Diego; Alex Mayweg, now named venture partner, Basel, Switzerland; Mary Haak-Frendscho, who has become venture partner, Toronto; Lloyd Segal, who has been appointed entrepreneur in residence, Montreal; and Rahul Ballal, who is joining the Boston office as entrepreneur in residence.
- Cerêve raises $38 mln
Cerêve Inc said Jan. 5 that it closed a $38 million Series B round of financing led by KKR. Also participating were existing shareholders Versant Ventures, Arboretum Ventures and Partner Ventures. Cerêve, of Oakmont, Pennsylvania, is a health care company that is developing insomnia devices.
Canadian LPs anchor Versant Venture Capital VI's $538 mln closeU.S. venture capital firm Versant Ventures has closed its sixth life sciences fund, Versant Venture Capital VI, at its hard-cap target of $538 million (US$400 million). Fund VI, which was oversubscribed, secured commitments from both new and existing limited partners, including Canadian investors Teralys Capital, Northleaf Capital Partners, HarbourVest Canada Growth Fund and Fonds de solidarité FTQ. The fund will invest in up to 25 healthcare companies with an emphasis on novel therapeutics in the United States, Canada and Europe. Versant co-led Canada's largest venture round in 2016, the US$225 million financing /canada/2016/12/bayer-versant-invest-225-mln-in-biotech-venture-reuters/ of Toronto's BlueRock Therapeutics.
- Versant Ventures raises $400 mln for sixth fund
Versant Ventures has closed its oversubscribed sixth healthcare-focused fund at a hard cap of $400 million. Fund VI will target between 20 and 25 biotech companies in the U.S., Canada and Europe. The firm is expected to deploy its initial investment from the fund in the first quarter of this year.
- Veran Medical Technologies rakes in $31 mln
St. Louis, Missouri-based Veran Medical Technologies, a medical device company, has secured $31 million in debt and equity financing. Oxford Finance LLC provided the debt funding while Versant Ventures and River Cities Capital Funds provided the equity.
Versant, Celgene invest in Northern Biologics' merger with MosaicCanadian biotechnology startup Northern Biologics Inc has merged with Mosaic Biomedicals SL, a Spanish developer of personalized cancer treatments. U.S. venture capital firm Versant Ventures, which invested in Northern's launch in 2013, backed the merger alongside of Celgene Corp (NASDAQ: CELG). In a separate release http://northernbiologics.com/news/ Northern said the merger enables the development of MSC-1, a humanized antibody expected to begin clinical trials in cancerous tumor types in 2017. Versant, which earlier this month invested in /canada/2016/12/bayer-versant-invest-225-mln-in-biotech-venture-reuters/ BlueRock Therapeutics' US$225 million round, said its latest investment in Northern brings its Canadian portfolio to more than $500 million.
Bayer, Versant invest $225 mln in BlueRock Therapeutics: ReutersGerman healthcare group Bayer said on Monday it has set up a joint venture with U.S. life sciences venture capital firm Versant Ventures to invest US$225 million ($296 million) in a stem cell therapy company based in Toronto, Reuters reported. The investors said the financing, one of the largest ever for an initial round of venture capital funding for a biotech company, and the biggest of its kind in Canada, will allow scientists to focus on research and development of treatments for cardiovascular disease and neurodegenerative disorders over the next four years. The venture, BlueRock Therapeutics, is expected to initially employ 30 to 40 people in Toronto, and 70 to 80 people worldwide. It will be based primarily out of Toronto's MaRS Discovery District, one of the world's largest innovation hubs.
- Versant Ventures co-founder Link joins Allegro Ophthalmics' board
Allegro Ophthalmics, LLC, a biotech company focused on treating vitreoretinal diseases, has appointed Dr. William J. Link to its board of directors. Link is the co-founder and a managing director of Versant Ventures.
- Intuity Medical racks $40 mln
Intuity Medical Inc., a developer of technologies for diabetes management, has secured $40 million financing. PTV Healthcare Capital led the round with participation from other investors that included Luther King Capital Management, Accuitive Medical Ventures, Investor Growth Capital, U.S. Venture Partners, Venrock and Versant Ventures.
