One E-Health Company Among Five Largest Health Care Venture Capital Deals Announced In August (September 17, 2008)

The five largest health care venture capital investments announced during August include one e-health company, three medical device companies and one pharmaceutical company. The pharmaceutical company, Proteostasis Therapeutics, is focused on the discovery and development of small molecule drugs and secured $45 million in Series A financing. The company is developing its proteostasis regulator drugs into therapies for treating multiple genetic and degenerative disorders associated with protein homeostasis deficiencies. Investors in Proteostasis Therapeutics include HealthCare Ventures, Fidelity BioVentures, New Enterprise Associates, Novartis Option Fund and Genzyme Ventures. Calibra Medical, formerly know as Seattle Medical Technologies, secured $35 million in Series B funding to support the launch of a device designed to combine the benefits of syringes and pumps and to make insulin therapy easier and more discreet for diabetes patients. Canaan Partners, InterSouth Partners, Skyline Ventures, Frazier Healthcare and Three Arch Partners provided the funding to Calibra. Celleration raised $30 million from Venture Investors, Heron Capital, Clarian Health Ventures, AAVIN Equity, Affinity Ventures, Baird Venture Partners, CID Equity Capital, New Science Ventures, Prism Opportunity Fund, Seneca Health Partners, Triathlon Medical Ventures and other investors. Celleration, the developer of a patented, ultrasound-based wound healing device that promotes healing through cellular stimulation while removing bacteria from the wound, is using the proceeds to intensify efforts to make its therapy system part of the standard of care for chronic and hard-to-heal wounds. BrainsGate, the developer of a therapeutic platform based on electrical neurostimulation of the Spheno-Palatine Ganglion (SPG), raised $27.5 million in Series C financing from Johnson & Johnson Development Corp., Agate Medical Investments, Elron Electronic, Pitango Venture Capita, MB Ventures and Alice Lab. BrainsGate's leading indication is acute ischemic stroke with a 24-hour treatment window. BioImagene raised $26 million in venture capital from Burrill & Company, Ascension Health Ventures, National Healthcare Services, Artiman Ventures and ICCP Ventures. BioImagene is a leading provider of solutions for digital pathology, which is the process of converting entire glass microscope slides into high-resolution, whole-slide digital images that can be viewed, managed and analyzed with a computer instead of a microscope.
 

Click here for a FREE TRIAL to Healthcare Corporate Finance News

VC Blog Archive

Back to top