Battery Ventures Backs ExactTarget, $22M for Tokai Pharmaceuticals, Ironwood Banks $40M in European Deal, & Much Much More Boston-Area Deals News

5/11/09

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for the round to $33 million. New investors Hunt BioVentures and Yasuda Enterprise Development provided the latest funding.

—Viximo, a provider of online services for artists, reportedly raised $5 million in a round of venture capital from North Bridge Venture Partners and Sigma Partners.

—Cambridge, MA-based CombinatoRx (NASDAQ:CRXX) inked a deal with Swiss pharmaceutical giant Novartis aimed at applying CombinatoRx’s technology for discovering combination drugs to developing treatments for cancer. Novartis will pay $4 million up front, fund research related to the alliance for at least two years, and make up to $58 million in milestone payments for each drug produced under the arrangement.

—Software maker VKernel of Portsmouth, NH, raised $7.06 million in Series B venture funding, according to federal filings. Longworth Venture Partners led the round. and Polaris Venture Partners and Hummer Winblad Venture Partners participated as well.

SeeWhy of Andover, MA, raised $4.5 million from new investor Scottish Enterprise and existing investors Logispring, Pentech Ventures, and Delta Partners. SeeWhy provides website owners with “abandonment tracking” tools that can help them track down visitors who leave their sites without completing an online purchase, form, application, or registration.

—Battery Ventures, which has offices in Waltham, MA, led a $70 million financing round for ExactTarget, an Indianapolis-based e-mail marketing software firm. Boston-based Battery general partner Michael Brown joined ExactTarget’s board of directors as part of the deal.

—Business software maker Kalido of Burlington, MA, raised $5.15 million in Series E venture funding, according to federal filings. Atlas Venture and Matrix Venture Partners led the round, $3.1 million of which has been collected so far.

—Medical software maker Casenet raised $5 million in a round of venture capital, according to an SEC filing. Previous backers of the Bedford, MA-based firm include HLM Venture Partners, Sigma Partners, and Aurora Funds.

—Lexington, MA-based RainDance Technologies, a provider of life sciences research tools, raised $6 million of a $12 million round of private equity financing, according to federal filings.

—Cambridge, MA-based Tokai Pharmaceuticals, a prostate-cancer-drug developer, raised $22 million in a round of private equity financing led by Novartis Venture Funds and joined by Apple Tree Partners.

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