Who’s Getting Paid: The Week in Deals
February 2, 2009 at 1:52 pm EST | Tags: Deals & Alliances, Financing, Mergers & AcquisitionsLet’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…



