For General Corporate Purposes: A Roundup of San Diego Startups Raising Capital

4/16/10Follow @bvbigelow

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of a targeted $15 million round, according to a recent regulatory filing. While the company did not name investors in its latest funding round, existing investors include Qualcomm Ventures, Sanderling Ventures, 3i Group, and Intel Capital. The company has raised more than $36 million, including the latest funding.

—Chimeros, previously known as ChimeraCore, has raised $444,081 of $500,000 debt offering, according to a recent regulatory filing. Chimeros, which moved to San Diego from Santa Barbara in mid-2008, showed up in our under the radar deal list in November, when the biotech disclosed raising $611,246 in equity funding. Investors were not disclosed, although Chimeros appears as a portfolio company on the DFJ Frontier website, where it is described as a cancer therapeutics company developing nano-scale technology for the delivery of nucleic acids.

—NexMed (NASDAQ: NEXM) recently raised $4 million by issuing warrants or options to be exchanged at a future date for its securities, according to a recent regulatory filing. The life sciences company, which moved to San Diego following its buyout of Bio-Quant, a San Diego contract research organization (CRO), says in the filing that roughly $2.6 million of the proceeds was used to pay off previous indebtedness. The remaining proceeds from the offering will be used for general working capital. NexMed is developing transdermal drug delivery technology, which is intended to enhance the absorption of an active drug through the skin, allowing patients to avoid getting stuck with needles.

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call (619) 669-8788 Follow @bvbigelow

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