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| Healthcare Corporate Finance News | |
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Market Intelligence on Health Care Venture Capital, M&A, Private Equity, and IPOs |
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VC Advantage Health Care Venture Capital News from Healthcare Corporate Finance News Written by: Gretchen Swanson, Editor of the Healthcare Corporate Finance News |
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Aerovance Secures $60 million To Fund Biopharmaceutical Development (May 16, 2006)Sixteen health care companies announced investment rounds during the two weeks ended May 15, 2006, raising $342.3 million in venture capital. Pharmaceutical and biopharmaceutical companies together accounted for half of the deals and nearly 67% of the dollar total. The largest financings reported during the first half of the month included a $60 million Series C, announced by biopharma Aerovance Inc. with investors led by Clarus Ventures and including Alta Partners, Apax Partners, Lehman Brothers, NGN Capital and Burrill & Company. Another biopharma that closed its Series C, Avidia, secured $43.8 million from investors led by Skyline Ventures and including HealthCare Ventures, Alloy Ventures, Amgen Ventures, Medimmune Ventures, Morgenthaler Ventures and TPG Ventures. Two pharmaceutical companies also figured among the top deals in the past two weeks, including Cardiokine, Inc., which raised $50 million in a B round co-led by Advent Venture Partners and Fidelity Biosciences, with participation from Teachers Private Capital, Perseus-Soros Biopharmaceutical Fund, HealthCare Ventures, Care Capital, CIBC Capital Partners and Burrill & Company. KAI Pharmaceuticals garnered a $35 million Series B financing from co-lead investors Investor Growth Capital, Inc. and Aberdare Ventures, along with Skyline Ventures, InterWest Partners, Intersouth Partners, Delphi Ventures, Thomas Weisel Venture Partners and MDS Capital. The largest venture investment announced by a medical device company in the past two weeks was a $30 million Series C financing raised by CVRx, Inc., from investors including Thomas Weisel Healthcare Venture Partners, New Enterprise Associates, InterWest Partners, ABS Ventures, Frazier Healthcare Ventures and SightLine Partners. Click here for a FREE TRIAL to the Healthcare Corporate Finance News
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