Blue Cod and Viridity Bag $8M Apiece, Aprendica and Arbor Networks Acquired, & More Boston-Area Deals News

8/11/10

New England’s tech and life sciences firms had a busy week raising money and inking acquisition deals. So much for the summer slow-down!

Blue Cod Technologies announced it has raised $8 million in a follow-on financing led by General Electric Pension Trust. Edison Venture Fund, a previous investor in the Marlborough, MA-based provider of outsourcing services and hosted software for the insurance industry, participated in the deal as well.

—Boxborough, MA-based Beaumaris Networks indicated in a filing with the SEC that it has raised close to $9 million of a financing round planned to total $10 million. Investors in the round were not specified, but Charles River Ventures contributed to the June 2009 Series A round for Beaumaris, which is developing technology for video service providers.

—Viridity Software, a Burlington, MA-based firm out to improve the efficiency of data centers, raised $8 million in a second round of venture funding. Return investors Battery Ventures and North Bridge Venture Partners contributed to the round, which will help Viridity grow its sales, marketing, and tech support staff, CTO Mike Rowan told Greg.

—Aprendica, a Watertown, MA-based provider of toxicology testing for drug developers, was bought by U.K.-based contract research firm Cyprotex for £2.68 million in cash and stock. Aprendica’s CEO will become chief scientific officer of the merged company, and the Massachusetts firm’s employees will all remain with the business, according to Cyprotex.

—Harvard University spinoff MedNetworks raised $5 million in a Series A funding round from Excel Venture Management. The Newton, MA-based startup is developing analytics software for the healthcare market aimed at allowing drug companies, health plans, and hospitals to make better use of data from social networks.

—Waltham, MA-based cancer drug developer Syndax Pharmaceuticals raised $6 million in a convertible debt financing planned to total $7 million. All of Syndax’s previous backers, participated in the round, including Domain Associates, Avalon Ventures, Forward Ventures, MPM Capital, and Pappas Ventures.

—Security software maker Arbor Networks of Chelmsford, MA, agreed to be acquired by Tektronix Communications, the Texas-based firm now owned by tech conglomerate Danaher (NYSE: DHR) for an undisclosed sum. The deal is expected to close next month.

—Newton, MA-based Zeo raised $1 million of a proposed $1.5 million round of debt financing, a regulatory filing indicated. A provider of devices and software that aim to help users learn to sleep better, Zeo plans to put the new money toward new product development, customer service, and operational expenses.

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