Aveo Aims for $86M Debut, Exagrid Snags $16M, PatientKeeper Adds $13M, & More Boston-Area Deals News

12/18/09

In honor of the eighth day of Hanukah, here are the top eight deals of the last week.

—Lexington, MA-based Cubist Pharmaceuticals (NASDAQ:CBST) inked a deal to acquire San Diego-based Calixa Therapeutics for $92.5 million upfront, with as much as $310 million more in potential payments also on the table. The merger of the firms, both antibiotic developers, is expected to be wrapped up by year’s end.

Aveo Pharmaceuticals filed initial paperwork for an IPO that could be worth as much as $86.25 million. The Cambridge, MA-based company, which has raised an impressive $165 million from its partners and investors, has created mice that more realistically mimic human cancers, helping drug developers predict how well new molecules will work in humans.

—Cambridge-based CoreStreet, a maker of systems for securing facilities and networks, was acquired by Fremont, CA-based competitor ActivIdentity for $20 million in cash, stock, and warrants. CoreStreet’s investors include In-Q-Tel, the venture arm of the U.S. intelligence community.

—Data storage and deduplication firm Exagrid of Westborough, MA, raised $16 million in equity financing, according to an SEC filing. The startup’s previous backers include Highland Capital Partners, Sigma Partners, and Tenaya Capital.

—Newton, MA-based PatientKeeper, an electronic medical record provider, raised $13 million in equity (from previous backers Flybridge Capital Partners, New Enterprise Associates, and Whitney & Company) and debt (from Lighthouse Capital Partners).

—Caliper Life Sciences (NASDAQ:CALP) of Hopkinton, MA, sold Xenogen Biosciences (XenBio) for $11 million to Hudson, NY-based Taconic Farms. Caliper acquired the XenBio, a small animal services business, through its 2006 buyout of Xenogen

Acceleron Pharma of Cambridge raised $10.9 million in equity financing, according to regulatory filings. $8 million of the cash was part of a licensing deal with Cambridge-based biotech Alkermes (NASDAQ:ALKS) and $2.9 million was from Acceleron’s previous backers.

—Watertown, MA-based QD Vision, a developer of quantum dot nanomaterials for use in LED lighting and displays, raised $10 million from North Bridge Venture Partners, Highland Capital Partners, and In-Q-Tel. The deal brings the MIT spinoff’s total venture financing to $30 million.

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