Titan makes a robotic surgical system called SPORT (Single Port Orifice Robotic Technology), a surgeon-controlled surgical robot with a 3D visualization system.
Burrill & Co. and the Infinity Group are joining forces to pursue investments in Chinese life science companies.
San Francisco-based Burrill, a venture capital/private equity player, and Israel- and Chine-based Infinity will co-invest in U.S. dollars and Chinese renminbi as equal partners, according to a press release.
Boston investment firm Third Rock Ventures LLC has raised $426 million for its second (oversubscribed) fund and is opening a San Francisco office to continue its practice of "launching and supporting transformative life sciences companies."
The new mantra of the venture capitalist is capital efficiency.
I must have heard that six or seven times while attending the IN3 investor’s conference in Boston this week. The event, put on by Elsevier Business Intelligence, brings together startups, established companies and venture capitalists; three interdependent partners with competing interests. After all, the startups want to get the VCs’ money, who don’t want to give it to them. The VCs want to sell their companies to the big companies, who don’t want to give them the valuations they want. And everyone wants to sell their company to Boston Scientific Corp. (NYSE:BSX) or Covidien plc (NYSE:COV).
The Massachusetts Life Sciences Center, the state’s quasi public agency for supporting the life science cluster, has started accepting applications for its annual tax incentive program.
The program provides nine different tax incentives that address capital expenditures for companies’ R&D cycles and the costs of commercializing new technology. It calls for the dispersal of $25 million in tax breaks each year to boost the state’s medical device, pharmaceutical and biotech firms.
The value of mergers and acquisitions is slated to plunge to levels not seen since the mid 1990s, according to a report by the Boston Consulting Group.
The total value of the 12,700 M&A deals logged during the first half of 2009 was $681 billion; if that pace holds during the second half, the sector is on track to be 46 percent down compared with all of 2008.
And the number of deals made during the first half represents a 17 percent decline from last year’s levels. If that number manages to double during the second half of this year, the number of deals would be at its lowest level since 2004.
The ongoing freeze in hospital capital expenditures could be thawing out, according to a survey of hospital administrators by Leerink Swann.
The poll of 57 administrators indicates that capital expenditure budget declines “may be stabilizing,” according to the report, which forecasts a roughly 13 percent drop for 2009.
“And while a 2010 budget trend is still difficult to discern, even a stable operating environment would be incrementally more positive for companies with capital-related products,” according to the report.
The administrators also reported expectations that the number of procedures is expected to slide over the next 12 months, especially for general surgical and orthopedic procedures.
The Boston-based venture capital firm, which specializes in healthcare and technology companies, said the investment will help add value to IZI’s portfolio of products as it grows.
As first reported by the Wall Street Journal, a pair of the Mountain View, Calif., search engine titan’s executives were tapped to lead the fund.
Google hired former entrepreneur William Maris to start Google Ventures and moved Rich Miner, a former executive in its mobile unit into the new venture fund, the journal reported.