March VC Deals Include Two In Excess Of $100 Million (April 16, 2007)

EUSA Pharma, a new transatlantic specialty pharma focused on developing and marketing products to hospitals, simultaneously announced a $175 million financing and the acquisition of OPi SA, an integrated, profitable biopharma with a range of drugs on the market for rare and severe diseases. EUSA secured the financing from Essex Woodlands, 3i Group, Goldman Sachs, Advent Venture Partners, NeoMed and NovaQuest. CardioNet, a leading provider of wireless mobile cardiac outpatient monitoring solutions, secured $110 million in funding just days after announcing it had completed the acquisition of PDSHeart, a provider of cardiac monitoring services for remote and ambulatory care. Investors in the round were not disclosed. Phenomix Corporation, a drug discovery and development company, secured $55 million in funding to support the ongoing clinical development of its candidate for the treatment of Type 2 diabetes, plus other programs directed at hepatitis C virus and other high-value therapeutic targets. The investors this round include Nomura Phase4 Ventures, JP Morgan Partners, Delphi Ventures, Baker Brothers, Alta Partners, Sofinnova Ventures, Bay City Capital, CMEA Ventures, Novartis BioVenture Fund and GBS Venture Partners. Microbia is using the proceeds from a $50 million financing to support three ongoing phase II studies of its most advanced investigational compounds, one for the treatment of functional gastrointestinal disorders and one for the treatment of hypercholesterolemia, as well as to continue advancing its pipeline. Ridgeback Capital and Morgan Stanley Investment Management were investors in the round. Intarcia Therapeutics is using the proceeds from a $50 million round for the ongoing clinical development of its Omega DUROS therapy for chronic hepatitis C and to advance its diabetes development program into phase I testing. Intarcia is developing DUROS under license from ALZA. Investors in the round include New Leaf Venture Partners, Quilvest Ventures, New Enterprise Associates, Venrock Associates, Omega Fund, Granite Global Ventures and Alta Partners. MAP Pharmaceuticals, focused on developing treatments for respiratory and CNS diseases, also raised $50 million, from D.E. Shaw Group, Perseus-Soros Biopharmaceutical, Pequot Ventures, Brookside Capital Bay City Capital and Skyline Ventures. MAP recently completed phase II clinical trials for its two lead programs for pediatric asthma and migraine and expects to advance both programs forward into phase III clinical trials.

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