Lilliputian Discovers $25M, Biovex Bags $40M, Clinical Data Cedes Cogenics to Beckman Coulter for $17M, & More Boston-Area Deals News

4/6/09

This past week saw a decent amount of venture dealmaking for Massachusetts tech and life sciences firms, with Woburn’s BioVex and Wilmington’s Lilliputian Systems scoring the biggest rounds.

—Boston-area biotech startup TargAnox closed a $5.1 million Series A funding round led by Ascent Biomedical Ventures. Partners Innovation Fund contributed $250,000 to the round and helped draw up the initial business strategy for TargAnox, which is out to commercialize discoveries made at Brigham and Women’s Hospital in Boston.

—Woburn, MA-based BioVex, a developer of cancer-fighting viruses, raised $40 million in venture capital to support late-stage clinical testing of its treatment for metastatic melanoma. Amsterdam-based Forbion Capital Partners led the deal and existing investors including Credit Agricole Private Equity, Innoven Partners, New Science Ventures, Triathlon Medical Venture Partners, and Scottish Equity Partners participated as well.

—Charles River Ventures of Waltham, MA, and Menlo Park, CA, closed its 14th fund with $320 million, bringing its total capital under management to around $2.1 billion.

—Lexington, MA-based CommonAngels and Waltham MA-based Stage 1 Ventures led a Series A financing round for Waltham, MA-based inStream Media, maker of a system that allows retailers to deliver behaviorally targeted ads and discount offers to shoppers at brick-and-mortar stores. The value of the deal was not disclosed.

—Aushon BioSystems, a Billerica, MA-based provider of microarray tools and services, raised $6.5 million from North Bridge Venture Partners.

—Natick, MA-based Semilab, a maker of metrology tools for semiconductor manufacturing and R&D, acquired Natick neighbor Advanced Metrology Systems and Billerica, MA-based QC Solutions for an undisclosed amount of cash.

—Software maker SpaceClaim of Concord, MA, a provider of 3D direct modeling tools, raised $7 million from return investors including Borealis Ventures, Kodiak Venture Partners, Needham Capital Partners, and North Bridge Venture Partners.

—Cambridge, MA-based biotech giant Genzyme (NASDAQ:GENZ) acquired rights to three cancer drugs (one which shows promise as a treatment for multiple sclerosis) from Germany-based Bayer AG. The deal doesn’t involve upfront fees, but … Next Page »

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