Lenovo Buys Switchbox, Ekos Raises $12.5M, nLight Lands $10.7M, & More Seattle-Area Deals News

2/3/09Follow @gthuang

It was a very busy week for deals in the Northwest—a lot of action in biotech, software, and devices, including a flurry of deals in the Portland area.

—Luke reported that Portland, OR-based MolecularMD, a maker of molecular diagnostics for cancer, raised $3 million in new venture funding, led by Ballast Point Venture Partners. MolecularMD was founded in 2006 based on technology from the Oregon Health & Science University.

—Another Portland company, Elemental Technologies, signed a strategic partnership and technology development agreement with In-Q-Tel, the venture arm of the CIA and the U.S. intelligence community. Financial terms were not given. Elemental, which is backed by Seattle’s Voyager Capital and Cambridge, MA-based General Catalyst, makes video processing software that works with advanced graphics chips.

—Yet another Portland firm, AVI Biopharma, raised $16.5 million in a common stock sale to institutional investors including Eastbourne Capital Management, as Luke reported. AVI is developing new treatments for gene silencing that might work against Ebola and other deadly pathogens.

—Luke broke the news that Bothell, WA-based Ekos raised $12.5 million in a Series D round of venture funding, led by Chicago-based Crown Venture Fund. The new cash will be used to commercialize a mini ultrasound probe that amplifies the effect of drugs that dissolve blood clots in the legs.

—Xconomy first reported that Seattle-based PayScale, a provider of online salary-comparison data, raised $2 million in a Series C round of venture funding. The investors in the latest round were … Next Page »

Gregory T. Huang is Xconomy's Deputy Editor, National IT Editor, and the Editor of Xconomy Boston. You can e-mail him at gthuang@xconomy.com. Follow @gthuang

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