OnBioVC

Valtech Cardio, Ltd.: Series B $17.8M

arubenstein — Mon, 15 Mar 2010 00:58:25 +0000

Valtech Cardio (Israel) a development-stage medical device company focused on minimally invasive percutaneous annuloplasty ring valve repair for the treatment of mitral valve regurgitation, closed a $17.8M Series B financing. Participants include OXO Capital, NGN Capital and Peregrine Ventures.

OrthAlign, Inc.: Series A $5.2M

arubenstein — Mon, 15 Mar 2010 00:56:12 +0000

OrthAlign (Irvine, CA) a commercial-stage medical device company focused on tibial alignment in total knee arthroplasty, closed a $5.2M Series A financing. Participants include California Technology Ventures, Okapi Venture Capital and Research Corporation Technologies.

Somnus Therapeutics, Inc.: Series A $15M

arubenstein — Mon, 15 Mar 2010 00:48:16 +0000

Somnus Therapeutics (Bedminster, NJ) a clinical-stage specialty pharmaceutical company focused on a delayed-release sleep-maintenance therapy, closed a $15M Series A financing. Participants include CTI Life Sciences Fund and Care Capital.

OnBioVC | Welcome…New Feature Friday…Maybe?

arubenstein — Fri, 12 Mar 2010 04:20:48 +0000

Site traffic and subscribers have both been on the rise here at OnBioVC.com; we are both humbled and appreciative for this growth, and that is why now, it is important to listen to what the OnBioVC market desires as our growth trajectory is architected.

To date content at OnBioVC.com has been limited purely to details regarding particular life science company financings. Recently we expanded coverage to include M&A and IPO data, as contained in the most recent 2009 Year-in-Review Trend Analysis, and now will be incorporating these deals in post format at the conclusion of 1Q10.

Below you will find a post titled OrbiMed | Looking for Some (More) of This?

The question to you is…
Is the potential expansion of content, designed primarily to include tangential news to VC, M&A and IPO deal info (akin to the OribiMed post) something that would be of interest to read and consume on Friday’s or should OnBioVC stick to strictly reporting the facts, just the facts, ma’am?

Please, if you will, take a minute to drop me, Adam, an email at arubenstein@rnaventures.com letting me know your thoughts about broadening the scope of OnBioVC content. Every email will be read and responded to. For those of you wondering about the voice behind OnBioVC you can read my bio HERE and get a feel for my writing style by taking a look at my personal blog at LifeScienceDealFlow.com.

Thank you for your readership!

Please help us bring you the life science information you desire.

Contact us today!

OrbiMed | Looking for Some (More) of This?

arubenstein — Fri, 12 Mar 2010 04:01:36 +0000

The ‘Looking for Some (More) of This?’ series is focused upon the tracking of newly formed venture funds who are financing biomedical innovation.

Whilst many continue to pound the drum echoing the sentiment that limited partners remain sidelined, here is additional demonstration of continued new capital formation in the life science sector, courtesy of OrbiMed, who last month introduced the new $550M Caduceus Fund IV; exceeding the original close target by $50M! [Additional new fund closes have been previously covered by Life Science Deal Flow HERE].

The Fund intends to invest 60% in biotechnology, 30% in medical devices and 10% in diagnostics, backing some 25 to 30 companies while deploying the capital over a three to five year period with total investments ranging from $10 to $50M.

“OrbiMed is going to continue to bridge novelty and commercial reality, overall we are trying to find companies that are innovative, but also of strategic value to the industry.”
Carl Gordon – Founding Managing Partner

The infinite loop model in venture is one in which success begets success and thus a string of successful exits for OrbiMed such as CoGenesys selling to Teva for $400M, Cerexa selling to Forest Labs for $480 and Peninsula Pharma selling to J&J for $245M, certainly made fundraising for Caduceus IV that much ‘easier’. In addition to the M&A activity portfolio holdings who floated public offerings included Abgenix, Given Imaging, and LifeCell. Therefore OrbiMed was able to rely upon participation from existing limited partners to the tune of $440M or 80% and the remaining $110M or 20% came from new investors (according to OrbiMed). LP’s in Caduceus IV include fund-of-funds, university endowments, foundations, corporate and municipal pensions, and global sovereign funds.

“We’re willing to make a bunch of small bets [on early-stage companies], over-fund our winners and kill our losers early.”
Jonathan Silverstein – General Partner

Interestingly the fund is agnostic to investment stage with expectations of 20% being allocated to early-stage, 60% to mid-stage and get this 20%, or over $100M, to finance PIPES, a trend in funds that appears to be on the rise.

OnBioVC | Thanks to Our Sponsors

arubenstein — Fri, 12 Mar 2010 03:54:25 +0000

OnBioVC would like to thank our sponsors, without whom complete coverage of the life science venture capital, M&A and IPO sector would not be possible:

Freestone Group | Integrated Solutions for Emerging Life Science Companies MORE INFO AT: http://www.TheFreestoneGroup.com CONTACT: Jim Lewis jlewis@thefreestonegroup.com

Regulus Pharmaceutical Consulting | Regulatory Affairs – Quality Assurance – Medical/Technical Writing – CMC Regulatory MORE INFO AT: http://www.reguluspharma.com CONTACT: Brenda Fielding bfielding@reguluspharma.com

Lockton | Insurance – Risk Management – Employee Benefits Specialists MORE INFO AT: http://www.Lockton.com CONTACT: Mike Schwander mike.schwander@lockton.com

Colorado Bioscience Association | Advocacy – Representation – Service MORE INFO AT: http://cobioscience.com CONTACT: April Giles agiles@cobioscience.com

AVANCE | Corporate Finance in Life Sciences MORE INFO AT: http://www.avance.ch CONTACT: Ralph Villiger ralph.villiger@avance.ch

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Nautilus Neurosciences, Inc.: Series A $14.5M

arubenstein — Thu, 11 Mar 2010 05:21:53 +0000

Nautilus Neurosciences (Bridgewater, NJ) near commercial-stage specialty neurology pharma focused on migraine and acute pain, closed a $14.5M Series A financing. Participants include Tailwind Capital.
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NOTE: New OnBioVC Friday feature coming, well…this Friday!

NABsys, Inc.: Series B $7M

arubenstein — Wed, 10 Mar 2010 05:11:23 +0000

NABsys (Providence, RI) a development-stage company focused on polymerase-free solid-state electronic detection DNA sequencing free of amplification or labeling focused point-of-care clinical use, closed a $7M Series B financing. Participants include Stata Venture Partners and Point Judith Capital. _________________________________________________________________________

NOTE: New OnBioVC Friday feature coming, well…this Friday!

Eleven Biotherapeutics, Inc.: Series A $35M

arubenstein — Tue, 09 Mar 2010 04:57:10 +0000

Eleven Biotherapeutics (Cambridge, MA) a preclinical-stage biopharmaceutical company focused on protein therapeutics for the treatment of inflammation and coagulation disorders, closed a $35M Series A financing. Participants include Flagship Ventures and Third Rock Ventures.

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NOTE: New OnBioVC Friday feature coming, well…this Friday!

Pulmonx, Inc.: Series C $32M

arubenstein — Mon, 08 Mar 2010 05:33:27 +0000

Pulmonx (Redwood City, CA) a commercial-stage medical device company focused on minimally invasive devices for the diagnosis and treatment of COPD and other pulmonary disorders, closed a $32M Series C financing. Participants include HealthCap, Kleiner Perkins Caufield & Byers, De Novo Ventures, Latterell Venture Partners, MedVenture Associates, Montreux Equity Partners and Posco BioVentures.