Biopharmaceutical and Pharmaceutical Companies Lead Health Care Venture Capital Deals in September (October 23, 2007)

Sagent Pharmaceuticals announced the largest health care venture capital deal during September 2007, with $53.0 million from Vivo Ventures. Sagent Pharmaceuticals is a specialty pharma focused on developing, manufacturing, sourcing and marketing pharmaceutical products, particularly injectable products, and currently has more than 200 product candidates under development. The Series A funding is for Sagent’s product launches, development and strategic business initiatives. GlobeImmune announced the next-largest round, with $41.2 million from Wexford Capital, Mellon Family Investment Trust, Richard King Mellon Foundation, Eminent Venture Capital, Boston Life Science Ventures, WRF Capital and other investors. GlobeImmune, a biopharma, has now raised more than $88 million in venture financing to date and currently has its lead infectious disease product in a phase II trial involving chronic hepatitis C infection patients and its lead oncology product candidate in a phase II clinical trial in patients with resectable pancreas cancer. Hyperion Therapeutics, also a biopharma, secured $40.0 million in Series B financing from Sofinnova Ventures, Highland Capital Partners, New Enterprise Associates and WRF Capital. Hyperion is focused on developing and commercializing gastrointestinal and hepatology therapies for the treatment of urea cycle disorders and hepatic encephalopathy. The funding is being used by Hyperion to support completion of a licensing deal with Medicis, for ongoing trials and for promoting two FDA-approved products. The two remaining companies in the top five deals announced in September each raised more than $38 million in funding, and each is also a biopharmaceutical company. Enobia Pharma raised $38.5 million from OrbiMed Advisors, CTI Life Sciences Fund, Fonds de Solidarite FTQ, Desjardins Venture Capital, Lothian Partners, T2C2/Bio 2000. Enobia is using the proceeds primarily to continue developing through phase II clinical trials its drug candidate for hypophosphatasia, a severe genetic disorder that affects the ability to mineralize bone, which can lead to growth retardation, skeletal deformities and frequent fractures. Cellerix raised $38.4 million from Life Science Ventures, Ventech, Ysios Asset Management, Roche Venture Fund, Novartis Venture Fund and Genera.

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