Aesthetic Medicine Company Announces Largest of Top Five Health Care Venture Capital Deals In April (May 15, 2007)

During April 2007, the five largest health care venture capital deals were led by Sientra, a specialty medical device company focused on plastic surgery and aesthetic medicine. Sientra announced its $85 million Series B financing simultaneously with its acquisition of the assets of Silimed, a developer of plastic surgery implants for both cosmetic and reconstructive surgery. Investors in Sientra this round include OrbiMed Advisors, Clarus Ventures, Goldman, Sachs and TIAA-CREF. The second largest deal, a $57.5 million investment from MPM Capital, Wellcome Trust, HealthCare Ventures, Oxford Bioscience Partners, was announced by Radius. Radius will use the proceeds from the Series B financing to continue developing its four major drug programs, including two compounds for the treatment of osteoporosis and related conditions, and two identification programs, one targeting osteoporosis, sarcopenia and related conditions, and the other, endometriosis and other inflammatory diseases. Sangart, a biopharma, secured $50 million in Series F financing from Leucadia National Corporation and other investors, the proceeds of which will be used to advance two large-scale, multi-country European phase III clinical trials of its lead product candidate, a hemoglobin-based oxygen carrier designed to serve as an alternative to blood transfusions. Ascenta Therapeutics also raised $50 million in Series C funding, to support ongoing development in multiple cancer indications, from Perseus, Domain Associates, Sofinnova Ventures, Enterprise Partners Venture Capital, Scale Venture Partners and US Venture Partners. Ascenta Therapeutics is a biopharmaceutical company discovering and developing targeted medicines for the treatment of cancer, with a focus on molecules that are involved in certain cancer cell proliferation pathways. GANYMED Pharmaceuticals, a biotech, announced the fifth-largest deal in April, a $45.5 million Series C financing, and will use the proceeds for a phase I/IIa trial of one of its product candidates in a major cancer indication, as well as for other product development activities and to further expand its pipeline of unique, cancer-specific targets and antibodies.

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