Marathon and Zafgen Add to Series B Rounds, Athenahealth and Sermo Announce Partnership, Sensata Sets IPO Terms, & More Boston-Area Deals News

3/3/10Follow @xconomy

Early round venture funding dominated the deals news this week, but there were still announcements of partnerships, acquisitions, and IPOs to mix it up.

Newton, MA-based energy storage company General Compression announced it had closed more than $17 million in commitments to its Series A round, but did not reveal how much of that money was in new equity investments. The funding came from U.S. Renewables Group and Duke Energy, and will go to building the company’s first commercial-scale wind power storage unit.

Marathon Technologies, a Littleton, MA maker of fault-tolerance software, brought its Series B funding round up to $13.5 million, thanks to a third close, a regulatory filing revealed last week.

—Stealthy life sciences startup Ra Pharmaceuticals raised $10.3 million of a planned $27.6 million round of equity-based financing, according to an SEC filing. The company is incubated at the Boston office of Morgenthaler Ventures and is lead by Doug Treco, who co-founded former Transkaryotic Therapies, a Cambridge, MA company acquired by Irish drugmaker Shire in 2005.

Intrinsic Therapeutics raised $18 million of a $20 million round that included equity, options, and warrants. An SEC filing listed New Enterprise Associates, Spray Venture Partners, and New Leaf Venture Partners as directors of Woburn, MA-based Intrinsic, which develops spinal implants to treat disc herniation.

—-Athenahealth, a Watertown, MA-based maker of Internet software for medical practices, and doctors-only social networking company Sermo announced a partnership early this week, but didn’t disclose financial terms of the deal. Athena plans on tapping into Cambridge-based Sermo’s community for their perspectives on electronic health records.

—IPO news continued this week with Sensata Technologies, an Attleboro, MA maker of sensors and switches. The Bain Capital-owned company set its initial public offering of 31.6 million common shares at $18 to $20 a share.

—German pharmaceuticals giant Merck KGaA (not to be confused with the U.S Merck & Co.) will acquire all outstanding shares of life sciences equipment supplier Millipore at $107 a share, Millipore (NYSE: MIL) announced. News of the all-cash, $7.2 billion transaction came as a bit of a surprise; previous reports stated Thermo Fisher had made a $6 billion bid for Billerica, MA-based Millipore.

Cambridge’s Zafgen added $8.1 million to its Series B round, bringing the amount collected for the round to date to $28 million, a company spokeswoman said. The company, which focuses on treatments for obesity, raised the funding from existing investors Third Rock Ventures in Boston and Atlas Venture in Waltham, MA.

TransMedics, which develops systems for transporting organs for transplant, raised $35.4 million, showed an SEC filing. The equity round for the Andover, MA-based company included about $9 million from convertible debt.

Japan-based Konica Minolta will pump $20 million through R&D and investments into Konarka Technologies, a developer of nanotechnology-based products that convert light to energy, the Lowell, MA-based company announced today. They’re planning to develop thin-film photovoltaic panels together.


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