A123Systems Pulls Off Big IPO, PrimeraDx Grabs $20M, Conduit Labs Collects $3M, and More Boston-Area Deals News

9/25/09

The big news this week was obviously the A123Systems IPO, but quite a few other New England tech and life sciences firms had deals to report as well.

—Mansfield, MA-based PrimeraDx—a developer of automated lab equipment spun off by Providence, RI-based Sention four years ago—raised $20 million in a Series C financing round. New investor CHL Medical Partners of Stamford, CT, led the round; existing investors Abingworth, Burrill & Company, InterWest Partners, the Invus Group, Malaysian Technology Development Corporation, and MPM Capital participated as well.

Biogen Idec (NASDAQ: BIIB) of Cambridge, MA, launched a $14.50-per-share tender offer for Facet Biotech (NASDAQ: FACT). The board of the Redwood City, CA-based company rejected Biogen’s $355 million offer earlier this month; the tender offer will expire October 19.

—Cambridge-based online game maker Conduit Labs raised $3 million in new equity financing. The new funds were reportedly from the same investors who put $5.5 million into Conduit in August 2007: Charles River Ventures of Waltham, MA, and Prism VentureWorks of Westwood, MA.

—Waltham, MA-based Inverness Medical Innovations (NYSE: IMA), a diagnostics maker and avid acquirer of other firms, picked up Seattle-based Free & Clear for $100 million in cash, plus up to $30 million more, depending on the Seattle firm’s 2010 revenues.

—Battery maker Boston-Power of Westborough, MA, inked a deal with Dr. Battery, of Vancouver that will put Boston-Power’s long-lasting laptop batteries on the market as … Next Page »

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