Myriant Gets $60M, BioVex Bought By Amgen, Raindance Wraps Up $37.5M, & More Boston-Area Deals News

1/26/11Follow @xconomy

The past week has been all about reflecting on venture data from Q4 2010, but we also spotted some new financings, partnership deals, and acquisitions for New England’s tech and life sciences firms.

—Well, we did write about the top 10 venture deals in the Boston area from last quarter, based on data the MoneyTree Report provided. A $27.8 million financing for Cambridge, MA-based optical device developer NinePoint Medical, and $26 million for Lexington, MA-based 1366 Technologies, a maker of silicon wafer technology out to lessen the cost of solar energy, were among the top deals.

—ArQule (NASDAQ: ARQL), a Woburn, MA-based cancer drug developer, said it priced a 7-million-share public offering of its common stock at $6.15 per share. The deal is expected to bring in net proceeds of $40.5 million for ArQule.

—Xtalic, a Marlborough, MA-based maker of nanostructured alloy coatings for electronics components, nabbed $8 million in equity-based funding, an SEC filing showed. The firm’s previous investors include Matrix Partners and North Bridge Venture Partners

—Quincy, MA-based Myriant Technologies said it brought in $60 million in equity financing from Thailand’s PTT Chemical Public Company. The company is planning to build a plant in Louisiana for producing bio-based succinic acid.

—French drug giant Sanofi-Aventis (NYSE: SNY) extended its $69-per-share or $18.5 million tender offer of Cambridge biotech Genzyme (NASDAQ: GENZ) until just before midnight on February 15. The previous offer deadline expired last Friday.

—Woburn-based BioVex was bought by drug company Amgen (NASDAQ: AMGN) for $425 million upfront, with another $575 million to come in development and sales milestones payments. Thousand Oaks, CA-based Amgen said the purchase of BioVex, which is engineering viruses to kill cancer cells while sparing healthy tissues, is expected to close before the end of March.

—Massachusetts startups collected $192.3 million in 29 equity-based deals in December, according to CB Insights FundingFlash. It was a jump from the November startup funding total, but investments in healthcare companies fell by more than $26 million in December.

—RainDance Technologies of Lexington, MA, said it wrapped up a $37.5 million Series D funding round, which was co-led by new investor Quaker BioVentures and existing investor Mohr Davidow Ventures. Previous investors Alloy Ventures and Acadia Woods also participated in the deal for RainDance, which develops genomic research tools.

—Celtra, a Cambridge-based mobile advertising and analytics startup, announced it had brought in $5 million in Series A money from GrandBanks Capital and Fairhaven Capital.

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  • http://www.investingNideas.com dan plesse

    Wow great stuff “viruses to kill cancer cells” what??? “nanostructured alloy coatings” man EEstor needs that. “bio-based succinic acid” What the hell is that? “genomic research tools.” that sounds interesting. “silicon wafer technology out to lessen the cost of solar energy” I have a small website following them. I wish them luck.

  • lessthantolerant

    Another bad idea, investing in Myriant and an ARRA funded fraud, just like Solyndra and Solar Abound, the money will disappear and the owners of Myriant will prosper.