Week in deals, Nov. 12, 2007


Ascent Therapeutics Inc.

Sherborn, Mass.


Amount/Round: $8M/A

Investors: Healthcare Ventures, Novartis BioVentures, TVM.

Details: A startup drug developer focused on treating cancer and inflammatory diseases. The funding is the first close of an expected $19M Series A round, according to a regulatory filing.

BAS Medical Inc.

San Mateo, Calif.


Amount/Round: $20M/C

Investors: Domain Associates, Kleiner Perkins Caufield & Byers, Sears Capital Management Inc.

Details: Develops drugs to treat congestive heart failure, such as a peptide hormone called Relaxin. The company has now raised more than $40M since July 2003.

Bikam Pharmaceuticals Inc.

Cambridge, Mass.


Amount/Round: $3.6M/A

Investors: Healthcare Ventures, CHL Medical Partners.

Details: A startup drug developer. The funding is the first close of an expected $11M Series A round, according to a regulatory filing.

Fundamental Applied Biology Inc.

Menlo Park, Calif.


Amount/Round: $4.7M/B

Investors: Alta Partners, SV Life Sciences.

Details: Develops protein therapeutics. The funding is the first call down of a $21.48M Series B round, according to a regulatory filing.

Ganeden Biotech, Inc.



Amount/Round: $12M/A

Investors: Capital Resource Partners, DSM Venturing.

Details: Develops drugs to treat gastro-intestinal disease and promote general immune health.

HemaQuest Pharmaceuticals

Newton, Mass.


Amount/Round: $20M/A

Investors: De Novo Ventures, Forward Ventures, Lilly Ventures.

Details: Develops small-molecule drugs to treat serious blood disorders. Bryan Dunnivant of Lilly Ventures, the venture arm of Eli Lilly and Co., will serve as chairman of the company.

Juvaris BioTherapeutics Inc.

Pleasanton, Calif.


Amount/Round: $16M/A

Investors: Kleiner Perkins Caufield & Byers.

Details: Develops vaccines for cancer and infectious diseases.

LEAD Therapeutics Inc.

San Bruno, Calif.


Amount/Round: $17M/A

Investors: Pappas Ventures (co-led), ProQuest Investments (co-led), Mustang Ventures.

Details: Develops drugs to treat infectious diseases. Arthur Pappas of Pappas Ventures and Alain Schreiber of ProQuest Investments have joined the board.

Navigenics Inc.

Redwood Shores, Calif.


Amount/Round: NA/B

Investors: Mohr Davidow Ventures (led), Kleiner Perkins Caufield & Byers, Sequoia Capital.

Details: Provides personalized health and wellness strategy using a genetic profile. No specific funding amount was disclosed, but the company says that it has now raised more than $25M. Sue Siegel, partner at MVD, has joined the board.

Novalar Pharmaceuticals Inc.

San Diego


Amount/Round: $30M/D

Investors: New Enterprise Associates (led), Domain Associates, Genevest, S.R. One, Montreux Equity Partners, Sears Capital Management.

Details: Develops drugs that reverse the effects of local anesthesia in dental procedures. The company has now raised about $75M since 2000.

Tranzyme Pharma

Durham, N.C.


Amount/Round: $20M/NA

Investors: H.I.G. Ventures, Thomas, McNerney & Partners, Quaker BioVentures, BDC Venture Capital.

Details: Develops small-molecule drugs for gastrointenstinal and metabolic diseases. The company has now raised about $53M in total VC funding since 1999.


Bluespec Inc.

Waltham, Mass.


Amount/Round: $4.25M/C

Investors: Atlas Venture, North Bridge Venture Partners.

Details: Develops chip design technology. The company has now raised $17.25M in total VC funding.

Innovative Silicon Inc.

Santa Clara, Calif.


Amount/Round: $25M/C

Investors: Wellington Partners Venture Capital, Austin Ventures, Auriga Partners, Highland Capital Partners, Index Ventures.

Details: Develops ultra-dense memory chips. The company, which has R&D facilities in Switzerland, has now raised about $50M in total VC funding.


Novomer Inc.

Ithaca, N.Y.


Amount/Round: $6.6M/A

Investors: Physic Ventures (co-led), Flagship Ventures (co-led).

Details: Develops biodegradable plastics, polymers and other chemicals from renewable substances. Jean Fréchet of Physic Ventures and Jim Matheson of Flagship Ventures have joined the board.


Calient Networks Inc.

Greenwich, Conn.


Amount/Round: $10M/D

Investors: TeleSoft Partners (led), Enterprise Partners Venture Capital, Sofinnova Venture, Wall Street Technology Partners.

Details: Provides all-photonic switching systems and software.

Ruckus Wireless Inc.

Sunnyvale, Calif.


Amount/Round: $7.5M/E

Investors: Motorola Ventures, Sequoia Capital, WK Technology Fund.

Details: Develops home networking equipment. The company has now raised more than $31M.


Azaleos Corp.



Amount/Round: $10M/C

Investors: Ignition Partners (led), Second Avenue Partners.

Details: Develops email management software. The company has raised $16M since June 2005. The company also announced that Rick Devenuti, former CIO of Microsoft, has joined the board.


LED Lighting Fixtures Inc.

Morrisville, N.C.


Amount/Round: $16.5M/NA

Investors: Digital Power Capital.

Details: Makes light fixtures for general illumination from LED light sources.


Rebel Monkey

New York


Amount/Round: $255K/A

Investors: Redpoint Ventures.

Details: Develops casual gaming. The funding is the first call down of a $1M Series A round, according to a regulatory filing.


ChaCha Search Inc.

Carmel, Ind.


Amount/Round: $6M/B

Investors: Explore Holdings and individual investors, including Jack Gill (co-founder of Vanguard Ventures).

Details: Provides human-powered search technology.

Makeover Solutions Inc.

New York


Amount/Round: $7M/A

Investors: Village Ventures Fund, Rho Canada, Borealis Ventures.

Details: Provides online beauty communities for women.


Los Altos, Calif.


Amount/Round: $10M/B

Investors: IAC, Square 1 Bank, Rustic Canyon Partners, Scale Venture Partners, Steamboat Ventures.

Details: Operates an online network of local business owners.

Networked Insights

Madison, Wis.


Amount/Round: $4M/A

Investors: Kegonsa Capital.

Details: Operates a customer interaction website for businesses.


Washington, D.C.


Amount/Round: NA/NA

Investors: Revolution and individual investors Chris Blackwell (founder of Island Records), Dave Goldberg (former head of Yahoo Music), Jim Bankoff (former head of AOL’s online music properties), Ted Leonsis (AOL vice chairman emeritus), Paul Vidich (former executive with Warner Music) and Tom Ryan (former executive with EMI).

Details: Operates an online music startup with social networking features, including a Facebook application. The investor Revolution was founded by former AOL CEO Steve Case.


Los Altos, Calif.


Amount/Round: $1M/A

Investors: KPG Ventures.

Details: Provides ratings and reputation services for online sites.


Pacific Data Designs Inc.

San Francisco


Amount/Round: NA/NA

Investors: DW Healthcare Partners.

Details: Provides data management and statistical services to the biotech, medical device, and pharmaceutical industries. DWHP Managing Directors Doug Schillinger and Rod Boone have joined the board.


Millennial Media

Baltimore, Md.


Amount/Round: $15M/B

Investors: Charles River Ventures (led), Bessemer Venture Partners, Columbia Capital.

Details: Provides mobile advertising services. The company has now raised more than $22M in VC funding, including a $6.3M Series A round earlier this year.

W2 Group

Waltham, Mass.


Amount/Round: $30M/NA

Investors: Monitor Clipper Partners.

Details: Operates as a marketing holding company for Web 2.0 companies. Clients include Digital Influence Group and Racepoint Group.


Vapotherm Inc.

Stevensville, Md.


Amount/Round: $11.25M/E

Investors: QuestMark Partners.

Details: Makes respiratory care devices for hospitals and home care uses. The company has raised about $20M since 2003 from QuestMark, Kaiser Permanente Ventures and the Maryland Department of Business & Economic Development.


V.i. Laboratories Inc.

Waltham, Mass.


Amount/Round: $8M/B

Investors: Ascent Venture Partners (co-led), Core Capital Partners (co-led), Rockford Capital.

Details: Provides security software.


Aria Systems Inc.

Media, Penn.


Amount/Round: $4M/A

Investors: Hummer Winblad Venture Partners.

Details: Provides on-demand billing and customer management software and services. Hummer Winblad Managing Director Mark Gorenberg has joined the board.

Socialtext Inc.

Palo Alto, Calif.


Amount/Round: $9.5M/C

Investors: Draper Fisher Jurvetson (led), Omidyar Network, SAP Ventures.

Details: Develops enterprise wiki software. The company also announced that Eugene Lee, co-founder of Beyond.com and an executive with Adobe Systems and Cisco Systems, has been named CEO. Founder and CEO Ross Mayfield will transition to president and chairman. The company previously raised $3M from Draper Fisher Jurvetson and Omidyar in June 2005.

Think Passenger Inc.

Los Angeles


Amount/Round: $8.3M/B

Investors: StarVest Partners, Shelter Capital Partners, Steamboat Ventures.

Details: Provides on-demand customer collaboration software.

Virtual Iron Software Inc.

Lowell, Mass.


Amount/Round: $13M/D

Investors: The Brookside Group, Highland Capital Partners, SAP Ventures, GS Capital Partners, Intel Capital, Matrix Partners.

Details: Provides enterprise software for creating and managing virtual infrastructure. The company has raised more than $44M in total VC funding since 2003.

Wimba Inc.

New York


Amount/Round: $8.4M/B

Investors: Ascend Venture Group.

Details: Provides collaborative education software. Kylie Sachs, a partner at Ascend Venture Group, has joined the board.



Burlington, Mass.


Amount/Round: $8.1M/A

Investors: Commonwealth Capital Partners, Ascent Venture Partners.

Details: Connects print communication service providers with a network of digital and offset printers.

Plextronics Inc.



Amount/Round: NA/NA

Investors: Applied Ventures.

Details: Develops printed electronics technology for use in flexible displays, plastic solar cells and organic RFID tags. The strategic deal comes just months after the company raised $20.6M in Series B funding from The Solvay Group, Firelake Capital, Birchmere Ventures, Draper Triangle Ventures and Newlin Investment Co. The company was founded in 2002 as a spinout from Carnegie Mellon University.


Big Bear Entertainment Inc.

Tiburon, Calif.


Amount/Round: $500K/A

Investors: El Dorado Ventures, Optix Pty Ltd.

Details: Creates animated music videos (a.k.a. video mods) using video game characters.