Sensata and Aveo Go Public; Genetix, Rhythm, and CorrelSense Get Funding; Pegasystems to Acquire Chordiant; & More Boston-Area Deals News
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included new investors Third Rock and Genzyme Ventures.
—The early stage funding news continued with a $21 million Series A round for Rhythm Pharmaceuticals, a developer of drugs for diabetes and obesity that has been incubating in the Boston offices of MPM Capital. The round was led by MPM and New Enterprise Associates and will go to funding Rhythm’s first two clinical trials, set to begin this year and next.
—Cambridge’s Forma Therapeutics announced a partnership with the White Plains, NY-based Leukemia & Lymphoma Society to focus on discovering drugs for immune cell cancers. No financial details were revealed regarding the partnership, in which the two organizations will target a protein that plays a part in many forms of lymphoma.
—Windsor, CT-based financial services software provider SS&C Technologies Holdings set the range for its IPO at $13 to $15 a share. The 10.725 million-share offering could be worth as much as $160.9 million.
—Pegasystems, a Cambridge-based maker of business process management software, announced its plans to acquire all outstanding shares of Chordiant Software for $5 a share, amounting to about $161.5 million in total. The deal comes two months after Cupertino, CA-based Chordiant, a customer experience software developer, rejected a $3.46-a-share buyout bid from CDC Software.
—Framingham, MA-based CorrelSense pulled in $8 million in Series B funding, which was led by Accel Partners and also included Vertex Venture Capital, eXceed Technology, and ProSeed Ventures. The money will go to sales, marketing, and product development for CorrelSense, which makes software for tracking business transactions and improving the performance of large enterprise applications.