It was another busy week with news of funding rounds for young startups, especially in the e-commerce and drug spaces.
—Woburn, MA-based Bio2 Technologies sold $1.1 million of an equity offering that could total $2 million. The company is developing tissue-engineering scaffolds for applications in orthopedics, and has licensed its technology from Geo2 Technologies, another Woburn company.
—Excelimmune, a Woburn-based drug developer, raised $4.5 million of a planned $9 million in an equity offering. The startup, which makes drugs using recombinant human antibodies, raised $1 million in Series B funding in February to put toward its experimental treatment for staph infections.
—Cambridge, MA-based thredUP, an e-commerce site for swapping used children’s clothing, raised $1.4 million in a Series A-1 round of funding, led by Menlo Park, CA-based Trinity Ventures. Participants in the deal also included Founder Collective, High Line Ventures, and NextView Ventures, the new micro VC firm started by Spark Capital veteran Rob Go, former Point Judith Capital principal Lee Hower, and David Beisel, current vice president of Venrock. ThredUP said it will put the cash toward new hires and product development.
—Mall Networks, a Lexington, MA-based online customer loyalty program provider, wrapped up a $6.6 million round of venture funding, an SEC filing showed. The filing listed representatives from Dace Ventures, Flybridge Capital Partners, Venture Capital Fund of New England, and LBO Enterprises as members of the Mall Networks board of directors. The startup, which runs a network of online malls featuring products from more than 700 merchants, nabbed a $7 million Series B round in 2008.
—Cambridge-based Infinity Pharmaceuticals struck a deal with Intellikine, a San Diego-based developer of drugs that target the so-called PI3 kinase pathway, which is involved in certain cancers and autoimmune diseases. Infinity (NASDAQ: INFI) will pay Intellikine $13.5 million upfront, up to $25 million in milestone payments for two drug candidates, and possibly another $450 million more if the two drugs get approved and hit the marketplace.
—Lexington, MA’s Highland Capital Partners joined Canadian firm BDC Venture Capital in a $12 million investment in Beyond the Rack, a Montreal-based startup. The company runs online, members-only sales on designer items. Highland has invested in other companies in the fashion and e-commerce arena, such as Gemvara, StyleFeeder, and Rent the Runway.
—Visterra, the Cambridge-based developer of treatments and diagnostics for influenza and other viruses, raised $6 million in venture funding. The money comes from Flagship Ventures, Lux Capital, and Polaris Venture Partners, and will go to helping Visterra—an MIT spinout formerly named Parasol Therapeutics—expand its R&D machine to Singapore.
—Boston Millennia Partners, a venture firm focusing on investments in healthcare and life sciences companies, has raised $24.3 million from 18 investors to put toward its planned $300 million Boston Millennia Partners III LP fund, an SEC filing showed.
—Natick, MA-based voice software startup Vivox said that it has wrapped up $2 million from Peacock Equity, a fund run by GE Capital’s Media, Communications & Entertainment business and NBC Universal. Vivox, whose software is used mainly in gaming and social networking applications, will use the money to fuel growth, enter new markets, and enhance its virtual goods and audio advertising products.
—Metamark Genetics, a Naples, FL-based startup that is in the process of relocating to Cambridge, said it has raised $22 million in Series B financing. The company’s diagnostics technology, which aims to identify genetic markers and other indications of tumor progression, comes from the lab of Harvard Medical School dermatology professor Lynda Chin. Metamark previously raised $4.7 million, and has declined to reveal its second round investors.