Here’s a roundup of the latest dealflow and investment news:
- Cappella closes $14.3 million round
Cappella Inc. completed the second tranche of a $14.3 million (€10.5 million) Series D investment. The round includes several new investors, including private investor, KfW, as well as growth financing from Kreos Capital Limited and Silicon Valley Bank. Cappella has initiated commercial activities of its Sideguard stent system in over 12 countries in Europe, South America, the Middle East and Asia.
- Activaero raises $ 6.8 million (€5.0 million) in a round led by LSP
Activaero GmbH, a technology leader in controlled breathing inhalation devices, closed a further financing round of € 5.0 million ($ 6.8 million). LSP Life Sciences Partners of Amsterdam, the Netherlands, committed € 3.5 million and were joined by the existing investors BioMedPartners AG (advising BioMedInvest LP II), VI Partners AG, Abalis Finance AG, Vesalius Biocapital I SICAR S.A., MedVenture Partners GmbH and existing shareholders who contributed further € 1.5 million. The transaction was advised by MedVenture Partners GmbH.
- Orabrush drums up $2.5 million from True Ventures, 2x
Provo, Utah-based Orabrush, maker of a tongue cleaner that helps cure bad breath, closed a $2.5 million investment round with True Ventures of Palo Alto and returning investor 2x Consumer Products Growth Partners of Chicago. Funds will be used to help further accelerate the company’s retail growth by maximizing its exceptional online brand and expanding its retail partnerships and distribution channels throughout the world.
- Angiotech Pharmaceuticals announces debtor-in-possession financing up to $28 million
Angiotech Pharmaceuticals Inc. announced that the company and certain of its subsidiaries have entered into a definitive agreement with Wells Fargo Capital Finance LLC in respect of the previously announced debtor-in-possession credit facility. The DIP Facility will provide liquidity for working capital, general corporate purposes and expenses while the company implements its previously announced recapitalization proceedings under the Companies’ Creditors Arrangement Act. The DIP Facility provides for the lenders to make revolving credit loans and provide letters of credit in an aggregate principal amount (including the face amount of any letters of credit) of up to $28 million, which will become available to the company once it has obtained a recognition order from the Supreme Court of British Columbia. The DIP Facility will be repaid and terminated in connection with the closing of the CCAA Recapitalization.
- GE Capital is agent for $55 million in credit facilities for eBioscience
GE Capital, Healthcare Financial Services announced today that it is agent and a lender for $55 million in senior secured credit facilities for eBioscience Inc. The credit facilities will be used to finance the company’s repurchase of certain shares from early investors, refinance existing debt, and provide growth capital. The financing includes a $45 million term loan and a $10 million revolving line of credit. GE Capital Markets served as sole lead arranger and bookrunner.