It was another busy week with news of funding rounds for young startups, especially in the e-commerce and drug spaces.
—Woburn, MA-based Bio2 Technologies sold $1.1 million of an equity offering that could total $2 million. The company is developing tissue-engineering scaffolds for applications in orthopedics, and has licensed its technology from Geo2 Technologies, another Woburn company.
—Excelimmune, a Woburn-based drug developer, raised $4.5 million of a planned $9 million in an equity offering. The startup, which makes drugs using recombinant human antibodies, raised $1 million in Series B funding in February to put toward its experimental treatment for staph infections.
—Cambridge, MA-based thredUP, an e-commerce site for swapping used children’s clothing, raised $1.4 million in a Series A-1 round of funding, led by Menlo Park, CA-based Trinity Ventures. Participants in the deal also included Founder Collective, High Line Ventures, and NextView Ventures, the new micro VC firm started by Spark Capital veteran Rob Go, former Point Judith Capital principal Lee Hower, and David Beisel, current vice president of Venrock. ThredUP said it will put the cash toward new hires and product development.
—Mall Networks, a Lexington, MA-based online customer loyalty program provider, wrapped up a $6.6 million round of venture funding, an SEC filing showed. The filing listed representatives from Dace Ventures, Flybridge Capital Partners, Venture Capital Fund of New England, and LBO Enterprises as members of the Mall Networks board of directors. The startup, which runs a network of online malls featuring products from more than 700 merchants, nabbed a $7 million Series B round in 2008.
—Cambridge-based Infinity Pharmaceuticals struck a deal with Intellikine, a San Diego-based developer of drugs that target the so-called PI3 kinase pathway, which is involved in certain cancers and autoimmune diseases. Infinity (NASDAQ: INFI) will pay Intellikine $13.5 million upfront, up to $25 million in milestone payments for two drug candidates, and possibly another $450 million more if … Next Page »