Week in deals, Dec. 10, 2007


AgraQuest Inc.

Davis, Calif.


Amount/Round: $20M/mezzanine

Investors: Loudwater Trust Ltd., TPG Ventures, Otter Capital, Halcyon Capital, Foragen Technologies Management Inc., Swiss Re, Emerald Technologies, SPG Private Investment Inc.

Details: Makes environmentally friendly pesticides. The company had previously raised about $73M in funding.



San Diego


Amount/Round: $3.35M/A

Investors: Tech Coast Angels, Life Science Angels, Blue Grass Angels, Pasadena Angels, Tate & Lyle Ventures

Details: Makes chemicals and production platforms for the flavor and fragrance, pharma, nutraceutical and agricultural markets. The company raised $1.5M in seed funding in 2005.

Fate Therapeutics



Amount/Round: $12M/A

Investors: ARCH Venture Partners, Polaris Venture Partners, Venrock, OVP Venture Partners.

Details: Operates as a stem cell research company.

Gene Security Network, Inc.

Portola Valley, Calif.


Amount/Round: $4M/A

Investors: Claremont Creek Ventures (led), Sequoia Capital, Huntington Reproductive Center and individual investor Marissa Mayer (an executive at Google and whose areas of responsibility encompass Google Health).

Details: Provides molecular diagnostics using data informatics to enhance genetic testing. Claremont Creek’s John Steuart and Ted Driscoll have joined the board.

Merrimack Pharmaceuticals Inc.

Cambridge, Mass.


Amount/Round: $35M/F

Investors: NA

Details: Develops drugs focused on autoimmune diseases and cancer. The funding is the first close of an expected $80M Series F round, according to a regulatory filing. Robert Gay, a former managing director with Bain Capital and who currently is part of a new private equity firm nearing a final close on its debut fund, has joined the board.

Topaz Pharmaceuticals Inc.



Amount/Round: $20M/A

Investors: Aisling Capital, Fidelity Biosciences.

Details: Develops pediatric drugs. Seaview Securities served as financial advisor.

Transport Pharmaceuticals Inc.

Framingham, Mass.


Amount/Round: NA

Investors: NA

Details: Develops drugs to treat herpes and other dermatological diseases. The company is looking to raise $35M, according to VentureWire, and has already received a commitment of $15M from Hillman Co., Quaker BioVentures, Carlyle Group and EGS Healthcare Capital Partners. The round is slated to close by the end of February.


Quickfilter Technologies Inc.

Allen, Texas


Amount/Round: $4.8M/C

Investors: NA

Details: Develops mixed-signal ICs for digital signal processing. The company previously raised funding from Argonaut Partners.


OPX Biotechnologies Inc.

Boulder, Colo.


Amount/Round: $3.6M/B

Investors: Mohr Davidow Ventures (led), X/Seed Capital.

Details: Focuses on improving the viability and cost-effectiveness of biofuels and biorefined chemicals. The company raised seed funding from X/Seed in June.


Alloptic Inc.

Livermore, Calif.


Amount/Round: $24M/B

Investors: Arcapita Ventures, Ritchie Capital Management.

Details: Develops optical networking equipment.

Avail Media Inc.

Reston, Va.


Amount/Round: $8M/B

Investors: Valhalla Partners (led), Columbia Capital, Novak Biddle Venture Partners, Pioneer Ventures.

Details: Provides IPTV and other media services to broadband operators. The funding brings the Series B round total to $25M, following a $17M first tranche announced in February. The company also has secured an additional $5M in debt financing from a “strategic investor” and Silicon Valley Bank.


1800Diapers Inc.

Montclair, N.J.


Amount/Round: $7M/B

Investors: Bessemer Venture Partners, Brand Equity Ventures.

Details: Internet retail site focused on baby products.


WiTricity Inc.

Belmont, Calif.


Amount/Round: $2M/A

Investors: Stata Venture Partners.

Details: Develops wireless energy transmission.


WildTangent Inc.

Redmond, Wash.


Amount/Round: $20M/venture debt

Investors: Hercules Technology Growth Capital.

Details: Develops game consoles for online gaming via personal computers. The company previously raised $67M in VC funding, since 1999, from Advanced Technology Ventures, ATI, CIBC Capital Partners, Greylock, IDG Ventures, Madrona Venture Group, Millennium Technology Ventures, New Millennium Partners, Sony Corp. and Washington Mutual.


ForHealth Technologies Inc.

Daytona Beach, Fla.


Amount/Round: $4M/NA

Investors: New Enterprise Associates, National Healthcare Services, Red River Ventures, Chisholm Private Capital.

Details: Develops automation systems for hospital pharmacies. The company also secured $5M in venture capital financing from Square 1 Bank. The company has raised about $55M in venture funding since 2002.

Vericare Management Inc.

San Diego


Amount/Round: $9.5M/B

Investors: HLM Venture Partners (led), Aetna Ventures, Salix Ventures, Acacia Venture Partners.

Details: Provides behavioral health care services to patients in nursing homes. HLM Venture Partners led the round with $6M.


Snooth Inc.

New York


Amount/Round: $1M/seed

Investors: Individual investors.

Details: Operates a wine review site. The company raised $300K in December 2006. The new funds will be used to scale the development team, integrate the current backlog of merchants that have already partnered with Snooth, and add new retailers worldwide.


Synchrony Inc.

Roanoke, Va.


Amount/Round: $10M/B

Investors: Third Security.

Details: Makes magnetic bearings, power and control systems. The company has now raised $15M in funding from Third Security.


AxoGen Inc.

Alachua, Fla.


Amount/Round: $12.1M/C

Investors: Accuitive Medical Ventures, Cardinal Partners, De Novo Ventures, Springboard Capital.

Details: Develops implantable peripheral nerve grafts and nerve regeneration technologies.

CardioMEMS Inc.



Amount/Round: $33M/E

Investors: Arcapita Ventures (led), Boston Millennia Partners, Medtronic, Easton Capital Partners, Foundation Medical Partners, Arboretum Ventures, Deerfield Capital Management, Vision Capital Advisors, Aperture Venture Partners, Rockport Venture Securities.

Details: Develops wireless medical pressure sensors for the management of congestive heart failure. This is the same round reported by PE Week in September, based on a regulatory filing. The company earlier this year pulled its registration for an $86.25M IPO. At the time, it had raised about $53M in VC funding.

Evalve Inc.

Menlo Park, Calif.


Amount/Round: $60M/D

Investors: BBT Fund (led), Delphi Ventures, New Enterprise Associates, Split Rock Partners, Abbott Laboratories.

Details: Develops devices for the repair of cardiac valves. Ryan Perras, principal at Apothecary Capital, has joined the board while Thomas Fogarty has stepped down from his role as a director. Fogarty will continue his involvement with the company, through his new fund, Emergent Medical Ventures.

Pelikan Technologies Inc.

Palo Alto, Calif.


Amount/Round: $69M/F

Investors: Clarus Ventures (led), HBM BioVentures, Global Life Science Ventures, Mannheim Holdings, Bio*One Capital.

Details: Develops hand-held blood glucose diagnostic and monitoring devices for diabetics. The company previously had raised about $57M. In related news Pelikan also has received pre-approval for a $20M venture loan facility from GE Capital and Oxford Finance. Stephen McCormack, partner at Swiss-based Global Life Science Ventures, has joined the board as an observer.


Cernium Corp.

Reston, Va.


Amount/Round: $10M/D

Investors: Lurie Investments.

Details: Develops video analytics technology for the security industry. The company previously raised about $12M from Lurie Investments and Open Prairie Ventures.


CrossLoop Inc.

Pacific Grove, Calif.


Amount/Round: $3M/A

Investors: El Dorado Ventures.

Details: Provides desktop sharing software. Tom Peterson, general partner of El Dorado, has joined the board.

Decipher Inc.

Fresno, Calif.


Amount/Round: NA/NA

Investors: DCA Capital Partners.

Details: Provides online survey software.


San Diego


Amount/Round: $20M/B

Investors: Bay Partners, Mohr Davidow Ventures, Walden International.

Details: Develops data warehousing software.

Serus Corp.

Mountain View, Calif.


Amount/Round: $2M/C

Investors: Samsung Ventures.

Details: Operates as a software solutions provider. The company previously raised more than $13M from OVP Venture Partners, Diamondhead Ventures and ZAP Ventures.

TuVox Inc.

Cupertino, Calif.


Amount/Round: $20M/F

Investors: Glynn Capital Management, Norwest Venture Partners, Foundation Capital, Granite Ventures, Adobe Ventures.

Details: Provides enterprise software for speech applications. The company has now raised nearly $60M in total VC funding since 2002.

VirtualLogix Inc.

Sunnyvale, Calif.


Amount/Round: NA/NA

Investors: Texas Instruments.

Details: Provides real-time virtualization software. The investment is related to a collaboration deal with Texas Instruments. Previous investors of the company include Esprit Capital Partners, Intel Capital, Cisco Systems, Atlas Venture and Index Ventures.



New York


Amount/Round: $1.25M/A

Investors: RRE Ventures.

Details: Provides private online storage for file sharing.





Amount/Round: $10M/A

Investors: OVP Venture Partners, Paladin Capital Group.

Details: Develops digital pen technology for architects, soldiers and others working in the field. Chad Waite, a managing director at OVP, and Mark Maloney, a managing partner at Paladin, have joined the board.


Corvallis, Ore.


Amount/Round: $24M/B

Investors: The BBVA Group (led), Debaeque Venture Capital

Details: Develops social recommendation technologies. The company has now raised $55M. Both investors are based in Spain.



New York


Amount/Round: $7M/B

Investors: Constellation Ventures (led), Canaan Partners, SAS Investors.

Details: Provides a video sharing and storage website for families.


Buzzwire Inc.

Denver and Boston


Amount/Round: $8M/B

Investors: Sequel Venture Partners (led), Matrix Partners, Spark Capital.

Details: Provides online multimedia streaming to mobile phones. Ron Bernal of Sequel has joined the board.

Pyxis Mobile Inc.

Waltham, Mass.


Amount/Round: $1.95M/B

Investors: Ascent Venture Partners and Egan-Managed Capital.

Details: Makes wireless applications for the financial services market.