Shares in SteadyMed (NSDQ:STDY) rose 6% today after the company said it inked a $30 million private placement with Adage Capital Management, OrbiMed, Deerfield Management and Kingon Capital Management. The San Ramon, Calif.-based company plans to use its newly-acquired funds to prepare for the commercial launch of its pulmonary arterial hypertension treatment, Trevyent. The therapy is […]
Funding Roundup
MeMed wins $9.2m DoD deal for diagnostic device
MeMed said today that it won a $9.2 million contract from the Defense Threat Reduction Agency, a branch of the U.S. Dept. of Defense, for its diagnostic platform that distinguishes bacterial infections from viral infections. The Israel-based company has developed a test to recognize the distinct human immune signatures of both bacterial and viral infections […]
GE funds startups to make overdose reversal devices more accessible
General Electric (NYSE:GE) is reportedly funding 2 of the startups that launched out of its opioid hack-a-thon last year, even though only 1 of the companies won. The company is backing GEM Boxes, the competition’s winner, and We Are Allies with more than $20,000 worth of funding to help curb the opioid epidemic that kills 91 […]
DelMar Pharmaceuticals prices $9m public offering
DelMar Pharmaceuticals (NSDQ:DMPI) announced pricing details of a $9 million public offering last week. The company priced 2.8 million shares and warrants to purchase an aggregate of 2.1 million shares of common stock at $3.25 apiece. The offering’s warrants have an exercise price of $3.50 per share and have an term of exercise of 5 years, […]
Stealthy Murj breaks cover with $5m Series A round
Murj said today that it raised a $4.5 million Series A round for the platform it’s developing to manage data from implanted cardiac devices. Santa Cruz, Calif.-based Murj said the round was led by True Ventures, joined by Social Capital and investors from a seed round. True Ventures co-founder Jon Callaghan is slated to join the Murj board […]
Halt Medical finds backer for Chapter 11 bankruptcy reorganization
Halt Medical said yesterday that it’s reorganizing under a Chapter 11 bankruptcy, via an acquirer that’s floating a $4 million bridge loan to sustain the women’s health company’s operations during the sale process. The company owes its top 20 creditors a total of nearly $1.3 million, including a $497,000 severance payment to former chief executive Jeffrey Cohen, according to […]
Lyndra raises $23m for long-acting drug delivery tech
Lyndra, Inc. said today that it closed a $23m Series A round, led by Polaris Partners, to fund the development of its long-acting therapeutic oral delivery platform. Quark Venture, GF Securities, Yonghua Capital, Healthlink Capital, Partners Healthcare, Suffolk Equity and others invested in the round. The Watertown, Mass.-based company touts its tech as the 1st […]
Cytori prices $9.5m public offering
Cytori Therapeutics (NSDQ:CYTX) said today that it priced an underwritten public offering of 8.6 million shares of common stock at $1.10 apiece. The company plans to bring in $9.5 million. Cytori granted a 45-day underwriter’s option to purchase up to 15% of additional shares of common stock. The offering is expected to close on April […]
Frequency raises $32m in Series A for hearing loss therapy
Frequency Therapeutics said today that it closed a $32 million Series A round, led by CoBro Ventures. Morningside Ventures, Emigrant Capital Corp., Korean Investment Partnership, Alexandria Real Estate Equities and other groups also invested in the round. The company has developed a proprietary combination of small molecule drugs that they plan to inject in the ear, […]
Silicon Valley Bank puts up $25m credit line for Organogenesis
Organogenesis said today that it entered into a revolving line of credit agreement with Silicon Valley Bank to provide $25 million in new capital to the regenerative medicine company. “The people of Silicon Valley Bank are not only excellent bankers, but what sets them apart is they also understand business,” Organogenesis chief financial officer Tim […]
Canadian government, JDRF ink $30m partnership to support diabetes research
Canada’s Minister of Health, Jane Philpott, said today that the Canadian Institutes of Health Research inked a $30 million partnership with the Juvenile Diabetes Research Foundation to support clinical research for Type I diabetes. Both groups have agreed to invest $15 million to the deal. “The government of Canada recognizes the impact that Type I diabetes […]