Who’s Getting Paid: The Week in Deals

February 2, 2009 at 1:52 pm EST | Tags: , ,

Let’s do a quick roundup of the latest deals and see who got paid recently…

Little known drug developer Sapphire Therapeutics was bought by Helsinn for $45M upfront! Sapphire used to be called Rejuvenon and was developing a Vitamin-D analog for prostate cancer. They readjusted and apparently generated some good data with their ghrelin mimetic. [PE Hub]

Regenerative player Garnet Biotherapeutics doesn’t even have a website, but managed to convince SCP Vitalife Partners, Safeguard Scientifics and Alliance Technology Ventures of Florida to pump in $10.$M for their bone marrow cell technology. The company says they have developed proprietary technology to expand a specific type of bone marrow derived cells that can have dermatologic and cosmetic applications. [Philadelphia Business Journal]


Genyous Biomed said it plans to raise $36M in a series A round through undisclosed investors. Genyous’ spinout Omnitura also plans to raise $24M in a series A. The companies are focused on identifying botanical-based drugs for cancer, pain and CNS indications. Is it just me or does “plan to raise” not really count? The companies are already jointly developing Aneustat (OMN54) which they think should be ready to start Phase 1 trials next quarter. [BioSapce]


Theragenetics is another not-so-well know company that develops diagnostic tests for various CNS diseases. The company announced back in January that contract service provider Avacta would be acquiring them for $2.9M. Peanuts. [Xconomy]


DNA Therapeutics, who is using siDNA (kinda like RNAi) as cancer therapeutics, have raised about $3M USD from SGAM SEFTI, Blue Medical Investments and G1J-Ile de France. DNA Therapeutics has already raised $4M USD since June 2008 led by Inserm-Transfert Initiative. Also unbelievable in these days and times. [PR Newswire]


Pharmasset, whose lead drug Clevudine is launched in Korea, has sold 4,678,000 shares of its common stock in a “registered direct” offering. The purchase price per share of $9.73 comes out to about $45.5M USD before closing and fees. Leerink Swann served as sole placement agent for the offering with Trout Capital advising. [Pharmalive]


…and that’s that…

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