Week in deals, May 25, 2009


Palyon Medical Corp.

New York


Amount/Round: $3M/A

Investors: Nextech Venture.

Details: Develops implantable drug delivery systems. The funding brings the Series A round total to $24M. In April, the company raised $21M from Baird Venture Partners (led), Hambrecht & Quist Capital Management, Fountain Healthcare Partners, BB Biotech Ventures, Cross Atlantic Partners and Arcus Ventures.

XORI Corp.



Amount/Round: $2.1M/seed

Investors: OVP Venture Partners, ARCH Venture Partners, Alexandria Real Estate Equities, Amgen Ventures, WRF Capital

Details: Operates as an antibody discovery and development platform. This is the 10th company backed by Seattle-based Accelerator Corp. and the second Accelerator-backed startup founded from intellectual property developed at the University of Washington.


Minyanville Media Inc.

New York


Amount/Round: $2M/NA

Investors: NA

Details: Operates a financial news and information website. In a regulatory filing, the company stated that it may raise as much as $13M “depending on an investment by a specific potential strategic partner.”

SponsorHouse Inc.

San Diego


Amount/Round: $800K/NA

Investors: Tech Coast Angels.

Details: Operates an online sports network called Loop’d for sports enthusiasts. The company has now raised more than $3.2M in funding.


Aha Mobile Inc.

Palo Alto, Calif.


Amount/Round: $3M/A

Investors: Venrock.

Details: Develops a mobile application that provides information to automobile drivers. The company is still developing its beta version and is preparing to launch its program for the iPhone this summer.

Slacker Inc.

San Diego


Amount/Round: $9.6M/C

Investors: Centennial Ventures.

Details: Makes portable music devices. The funding is a first close on an expected $10.2M round of venture funding, according to a regulatory filing. The company has now raised about $55 million from Centennial Ventures, Rho Ventures, Austin Ventures, Mission Ventures and Sevin Rosen Funds.



New York


Amount/Round: $3.5M/NA

Investors: Blumberg Capital (led), First Round Capital, Genacast Ventures and individual investors.

Details: Tracks online ads. David Blumberg, managing partner of Blumberg Capital; Chris Fralic, partner of First Round Capital; and Gil Beyda, managing partner of Genacast Ventures have joined the board.


Anulex Technologies Inc.

Minnetonka, Minn.


Amount/Round: $10.25M/D

Investors: Delphi Ventures, New Enterprise Associates, St. Paul Venture Capital, Affinity Capital Management, MB Venture Partners, SightLine Partners.

Details: Develops medical devices for the orthopedic market. The company had previously raised about $34M.

Control Medical Technology

Park City, Utah


Amount/Round: NA/A

Investors: Spring Bay Ventures.

Details: Develops medical devices for general biopsy.

iRhythm Technologies Inc.

San Francisco


Amount/Round: $6.5M/NA

Investors: Mohr Davidow Ventures, Synergy Life Science Partners, Stanford University, UNC Kenan-Flagler Private Equity Fund.

Details: Develops a cardiac monitoring device. The company had previously raised $12.7M and won a $10K business plan competition.

Orasi Medical Inc.

Edina, Minn.


Amount/Round: $3.5M/B

Investors: CentreStone Ventures, PrairieGold Venture Partners.

Details: Develops technology to diagnose and monitor neurological disorders. The company has now raised nearly $6M since late 2007.

Pathway Medical Technologies Inc.

Kirkland, Wash.


Amount/Round: $2.5M/D

Investors: WRF Capital and an undisclosed investor.

Details: Develops medical devices intended for the treatment of arterial diseases. WRF Capital, the venture arm of the Washington Research Foundation, invested $1.5M in the round. The funding brings the Series D round total to $42.5M. Other investors in the round include Forbion Capital Partners, Giza Venture Capital, HLM Venture Partners, Latterell Venture Partners, Oxford Bioscience Partners and individual investors. The company has now raised about $125M in funding since 1999.


Anaphore Inc.

La Jolla, Calif.


Amount/Round: $13M/A

Investors: S.R. One Ltd., Versant Ventures, Aravis SA, 5AM Ventures, Apposite Capital, Merck Serono Ventures.

Details: Develops protein therapeutics to treat cancer and immune-mediated diseases. The funding brings the Series A round total to $38M. Simeon George, partner of S.R. One, has joined the board.

Cempra Pharmaceuticals Inc.

Chapel Hill, N.C.


Amount/Round: $46M/C

Investors: Quaker BioVentures (led), Devon Park Bioventures, Aisling Capital, Intersouth Partners, Teachers’ Private Capital and individual investor Wistar Morris III.

Details: Develops antibiotics for difficult-to-treat and drug-resistant infections. The company previously raised about $32M. Geeta Vemuri, partner at Quaker BioVentures, has joined the board.

Elixir Pharmaceuticals Inc.

Cambridge, Mass.


Amount/Round: $12M/NA

Investors: MPM Capital, ARCH Venture Partners, Oxford Bioscience Partners, Physic Ventures.

Details: Develops drugs to treat metabolic disease.


Axcient Inc.

Mountain View, Calif.


Amount/Round: $2M/A

Investors: Thomvest Ventures.

Details: Provides data protection software-as-a-service focused on small and medium-sized businesses. The funding brings the Series A round to $8M after having raised $6M last fall from Allegis Capital and Peninsula Ventures.