Clarus Ventures’ Very Big Deal, Color Kinetics’ Acquisition, VMware’s Upward Trek, and More

8/24/07

It’s been a crazy week here at Xconomy. We’ve suffered a few technical and other difficulties, but (inside joke alert) we’re keeping our chins up. So, it seems, are many local tech firms.

—Boston Scientific (NYSE: BSX) amended a $2 billion line of credit and a $5 billion term loan—in part by prepaying $1 billion—in order to gain “additional financial flexibility as it implements initiatives designed to increase shareholder value,” the company announced. The move was not enough, however, to convince Standard and Poor’s to upgrade the firm’s negative rating.

—Cambridge, MA-based Clarus Ventures led a $110 million series E financing round for Globus Medical, a Pennsylvania maker of spinal implants. Dan Primack at peHUB amusingly points out that it’s the largest VC deal of 2007—by $1.65.

Shareholders approved the acquisition of Boston-based LED lighting firm Color Kinetics (NASDAQ: CLRK) by Philips.

—Waltham, MA’s Adnexus Therapeutics—which develops drugs derived from the protein fibronectin—filed for an IPO worth up to $86 million.

—Veveo in Andover, MA, garnered $14 million in a second round of funding, on top of a first round of the same amount, writes Rafat Ali at MocoNews. Ali calls Veveo’s technology, which won’t launch until September 10, an “impressive service at first glance.”

—Inotek Pharmaceuticals in Beverly, MA closed a $19 million Series C round.

—After hitting a high of $73.95, VMware (NYSE: VMW) closed the week at $71.30, up over 14 points (nearly 25 percent).

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