BIND Gets Backed by J&J Veteran’s VC Firm, SV Life Sciences Closes Fifth Fund, Boston Power Raises $60M, & More Boston-Area Deals News

6/30/10Follow @xconomy

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the financing in May, and said the money will go to new product development, sales, marketing, and research.

The New York Times reported that MIT spinout Lantos Technologies, a Cambridge, MA-based hearing and audio company developing 3D imaging technology for the ear canal, will announce a $1.5 million financing. (We haven’t seen any further announcements from the company on this yet.)

—Cambridge’s BIND Biosciences, a developer of nanoparticle-based drugs, closed $12.4 million in Series C funding, to put toward a Phase 1 clinical trial of its treatment for solid tumors. Swiss venture firm Endeavour Vision, which has Johnson & Johnson (NYSE: JNJ) veteran Eric Milledge on staff, joined in on BIND’s third round of funding. The Series C money also came from existing backers such as Arch Venture Partners, DHK Investments, Flagship Ventures, NanoDimension, and Polaris Venture Partners.

—Acton, MA-based Everyday Solutions, a maker of GPS-based software and hardware for monitoring school buses, pulled in a $2.8 million equity round. The company is backed by Ascent Venture Partners, Flagship Ventures, and Fontinalis Partners.

—Boston-based venture firm SV Life Sciences reported it had closed its latest fund at $523 million, the second-largest healthcare fund raised this year, after OrbiMed Advisors’ $550 million fund. The SV Life Sciences Fund V will target companies in the therapeutics, medical devices, diagnostics, healthcare services, and health IT spaces, and will make investments ranging from $5 million to $35 million.

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