Genentech Buys Rights to Forma Drug, Nimbus Gets $24M, Lilliputian Adds $11M, & More Boston-Area Deals News

6/29/11Follow @xconomy

Companies in the health IT, electronics, and biotech spaces have all been making deals headlines this week.

—Wilmington, MA-based Lilliputian Systems, a maker of tiny fuel cells for powering cell phones and laptops, took in $11.1 million of a targeted $21 million equity- and rights-based financing from 14 investors, according to an SEC filing.

—Vigix, a Cambridge, MA-based maker of kiosks for dispensing goods from loyalty cards to iPods, nabbed a $1.5 million Series A-1 round, led by Waltham, MA-based Still River Funds.

—South San Francisco-based Genentech paid Cambridge-based Forma Therapeutics for the exclusive worldwide rights to a small-molecule drug program designed to starve tumors by blocking a molecular target involved in cancer cell metabolism. Genentech will also provide support for research, cover all the development costs, and agree to make milestone payments if the drug hits certain development goals. The kicker is that if the Forma drug reaches its development goals, Genentech can acquire the full rights to it, making an asset buyout payment that would be distributed to Forma’s investors, plus further milestone payments to Forma if certain sales goals are met, though Forma would miss out on the royalty stream.

Nimbus Discovery, a Cambridge-based startup focused on computer-aided drug discovery, raised $24 million in Series A funding. The money came from Microsoft’s Bill Gates (a Nimbus seed investor), as well as lead investors Atlas Venture, SR One, and Lilly Ventures.

—-MC10, a Cambridge-based developer of products like biomedical sensors and consumer electronics that can bend and stretch, pinned down $12.5 million in funding. The Series B deal was led by new investor Braemar Energy Ventures, with participation from previous investors North Bridge Venture Partners, Osage University Partners, and Terawatt Ventures.

InfraReDx,a Burlington, MA-based developer of medical devices, raised $24.1 million in funding from existing investors to help support clinical trials for expanded applications of its new coronary imaging system.

—Beverly, MA-based health IT firm Eliza snagged an investment from Parthenon Capital Partners, marking the company’s first institutional financing round. The funding will go toward providing partial liquidity to certain shareholders and to funding future growth initiatives for Eliza, which offers technology for communicating healthcare information to patients.

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