5AM Gathers $200M Fund, Advanced Cell Technology Advances with $2.8 Million, Gloucester Picked up for $640M, & More Boston-Area Deals News
Lots of deals to report this week from New England tech and life sciences companies.
—Gloucester Pharmaceuticals of Cambridge, MA, agreed to an acquisition by Summit, NJ-based Celgene (NASDAQ: CELG). Gloucester will get $340 million in cash, plus $300 million in future milestone payments out of the deal, which is expected to close by the end of March.
—Advanced Cell Technology raised $2.77 million in financing from debt and options, an SEC filing. The Worcester, MA-based company hopes to be the first to bring embryonic stem cell technology into clinical trials.
—Waltham, MA- and Menlo Park, CA-based 5AM Ventures raised a $200 million new fund, which it plans to invest in drugs, diagnostics, materials, medical devices, and reagents.
—Mobile software startup Movik of Littleton, MA, raised $8.5 million in new equity-based financing, according to regulatory documents filed last Friday. Existing investors Highland Capital Partners and North Bridge Venture Partners participated in the round. Movik CEO Ramji Raghavan is a former general manager at Telsima, founder and former chief technology officer at Coriolis Networks, and a veteran of Digital Equipment and Cabletron.
—Waltham-based ModusLink Global Solutions (NASDAQ: MLNK), a supply chain management and e-business outsourcing provider, shelled out $30 million in cash for Boulder, CO-based e-retailer Tech For Less.
—Maine-based Hydro-Photon, developer of handheld water purification devices, raised just shy of $2 million in equity, according to regulatory filings.
—Cambridge-based drug developer Epizyme added $8 million to its Series B venture financing from New Enterprise Associates, bringing the total for the round to $40 million.
—Cambridge-based Parasol Therapeutics, an MIT spinoff developing treatments and diagnostics for influenza and other viruses, raised $3.2 million in debt and equity financing, according to an SEC filing. Investors in the deal weren’t specified, but previous backers of the startup include Polaris Venture Partners, Flagship Ventures, and Lux Capital.
—Newton, MA-based LifeImage, whose technology allows for medical images to be securely shared online, revealed to Ryan that it expects to secure more than $2.1 million in its second round of financing next week. New investors in the round will include Long River Ventures; previous investors Partners Innovation Fund, Massachusetts Technology Development Corporation, and others will participate as well.
—MC10 of Waltham indicated in a regulatory filing that it has raised $5.7 million in a new round of financing, $1.7 million of which is equity from converted bridge loans. The startup is developing “stretchable silicon” technology developed at the University of Illinois.
—Fina Technologies of Cambridge raised $4.5 million in a Series A round of venture capital led by Reed Elsevier Ventures and joined by Excel Venture Management. A spinout of Cambridge-based Gene Network Sciences, Fina provides drug companies and others with software for making detailed computer models of biological systems.