Financings Abound: Marinus Pharmaceuticals, Piedmont, NeoStem…
April 13, 2009 at 8:04 pm EST | Tags: Financing
A decent amount of financings lately, let’s take a look:
Marinus Pharmaceuticals announced last week that it closed a $20M series B financing from Canaan Partners, Domain Associates, Sofinnova Ventures and Foundation Medical Partners. Marinus is developing ganaxolone, a synthetic neurosteroid and derivative of allopregnanolone. The company has already demonstrated positive Phase 2a data for ganaxolone to treat adults with partial onset seizures as well as positive data in infantile spasms. [MassHighTech]
Piedmont Pharmaceuticals has raised $5M from Australian firm CM Capital Investments. Piedmont will use the funds to continue building its infrastructure for its novel, non-pesticide lice product RESULTZ, as well as to continue development of its antibiotic program for otitis media. [peHUB]
Molecular Templates got a $2.5M boost from Sante Ventures for its anti-cancer protein expression platform. The technology allows for rapid screening of molecular markers that uniquely identify various types of cancer cells. The company says it has already identified a lead molecule for melanoma and plans to enter clinical trials soon. [Genetic Engineering & Biotechnology News]
NeoStem (AMEX: NBS) announced today that it completed a private placement financing totaling $11M from three Asia-based investors, including private equity firm RimAsia Capital Partners, Enhance Biomedical Holding Corporation and Elancrest Investments. Neostem will use the funding to advance its VSEL (very small embryonic-like stem cells) technology and expand clinical activities in China, including those relating to its pending acquisitions and medical tourism. The company says it will provide U.S. citizens with advanced therapies not yet available in the U.S., and attract people from other countries to seek safe and effective regenerative therapies as they become available in China. [PR Newswire]
Finally, Cell Biosciences announced it closed a $10M Series C financing to further advance its nanoproteomic analysis systems. The technology is an ultrasensitive nanofluidic immunoassay system designed to analyze proteins in extremely small biological samples. The recent financing was led by the company’s largest shareholder, the Wellcome Trust as well as existing investors Domain Associates, Latterell Venture Partners, Novo A/S, Mitsui Ventures, Royal Bank of Canada and The Vertical Group. [FierceBiotech]
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