Roundup, deals, VC
Genzyme and Osiris Forge Stem-Cell Agreement, Xtalic Nabs $10M for Nano Alloys, Atlas Out for Half a Billion Bucks, & More Boston-Area Deals News
Rebecca Zacks 11/10/08
The biggest deals among Boston-area firms last week came from the life sciences sector.
—Xtalic of Marlborough, MA—a developer of nanostructured alloys for a variety of applications—reportedly raised about $10 million in Series B financing. North Bridge Venture Partners and Matrix Partners participated in the deal.
—Cambridge, MA-based Genzyme (NASDAQ:GENZ) forged a potentially massive partnership with Osiris Therapeutics (NASDAQ:OSIR) of Columbia, MD, centered on two adult stem cell treatments. Genzyme will pay Osiris $130 million in up front fees and up to $1.25 billion in potential milestone payments to commercialize the treatments—called Prochymal and Chondrogen—outside the U.S. and Canada.
—Biogen Idec (NASDAQ: BIIB) of Cambridge, MA, teamed with Genentech to develop GA101, an antibody drug for blood cancer that’s currently in Phase I/II clinical trials. Under the terms of the agreement, Biogen will pay Genetech $31.5 million up front.
—Watertown, MA-based Acusphere (NASDAQ:ACUS) granted Frazer, PA-based Cephalon (NASDAQ:CEPH) an exclusive worldwide license to its injectable formulation of the anti-inflammatory drug celecoxib, in return for a $5 million initial fee and $15 million in loans.
—Fraud-detection software maker Memento of Concord, MA, reportedly raised a $10 million fourth financing round from 406. Ventures, Bain Capital Ventures, and Rock Maple Ventures.
—Atlas Venture of Waltham, MA, has reportedly set out to raise $500 million for its eighth fund.
