Omeros Gets Ready for IPO, Cray Buys SiCortex Assets, ClearEdge Raises Cash, & More Seattle-Area Deals News

9/1/09Follow @gthuang

It was a fairly quiet week for deals in the Northwest, with just a trickle of activity in software, computing, cleantech, and life sciences. But there was a hint that the IPO window may be about to open.

—Seattle-based Cray (NASDAQ: CRAY), the supercomputing company, acquired some assets from SiCortex, a Maynard, MA-based computing firm that shut down in May. Financial terms weren’t given, but Cray purchased compiler technology that could help it improve its own products and gain new customers.

—Luke reported that Seattle’s Infectious Disease Research Institute, a global health nonprofit, licensed technology from Israel-based NanoPass to use “microneedles” to stimulate immune system cells just below the skin surface, which might make new vaccines more protective. Financial terms were not released.

—Hillsboro, OR-based ClearEdge Power raised $15 million in equity financing, according to media reports, which cited a regulatory filing. The investors were not disclosed, but ClearEdge Power has been backed by the Kohlberg family, Big Basin Partners, and Applied Ventures. ClearEdge develops fuel cell systems for homes.

—Seattle-based Trubion Pharmaceuticals signed a global partnership with Redwood City, CA-based Facet Biotech to co-develop and market an experimental treatment for leukemia, as Luke reported. As part of the deal, Trubion (NASDAQ: TRBN) will receive a $20 million upfront payment, and Facet (NASDAQ: FACT) has agreed to buy another $10 million worth of Trubion stock. The news sent Trubion shares up more than 40 percent, to $5.45, about six minutes after the opening bell on Friday morning.

—Seattle-based Tuusso Energy, a solar power plant developer, has raised a $2 million financing round from Pivotal Investments, a Portland, OR-based venture capital fund focused on cleantech and sustainability. Tuusso’s first solar plant is scheduled to be completed in the California desert in 2011. The deal represents the first investment from Pivotal’s new fund.

Omeros, a Seattle-based biotech firm, is preparing a renewed push for an IPO this fall, as Luke reported in an Xconomy exclusive. The offering, which could happen as soon as this month, would be the first IPO from a Washington company in more than two years (since Kirkland, WA-based Clearwire went public in March 2007). Omeros, which is developing a treatment to help people recover faster from knee surgery (among other products), previously tried to go public in January 2008.

—Xconomy broke the news that Seattle-based Marketfish, an online marketing startup, has raised an undisclosed amount of funding from private investors led by the Alliance of Angels. Marketfish, which was founded in July 2008, has developed a Web interface for connecting marketing agencies with list owners.

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 or call him at 617-252-7323. Follow @gthuang

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