Talyst Raises $8M, MDRNA Sells Stock for $10.5M, Sonosite Buys CardioDynamics & More Seattle-Area Deals News
Deals this week involved companies working in everything from pharmaceuticals and cleantech, to search engines and mobile software. Most of these deals were small, even those made by bigger companies.
—Bellevue, Wa-based Talyst clinched $8 million in funding from investors last month, but the details were only revealed last week. Talyst, which develops medication management software for hospitals and pharmacies, is now planning on expanding into nursing homes and even prisons.
—Luke reported that Bothell, WA-based MDRNA (NASDAQ: MRNA) raised $10.5 million by selling stocks last week. The company, which develops RNA intereference drug technology, didn’t say how long the money is expected to last.
––Sonosite (NASDAQ: SONO), another Bothell, WA-based company and maker of portable ultrasound machines, acquired San Diego’s CardioDynamics for $12.3 million in cash and debt. CardioDynamics, which produces noninvasive medical diagnostic tools for cardiovascular disease, generated $24.5 million in revenue last year, and had a net loss of $3.2 million.
—As part of a campaign to out-Google Google, as well as attract customers in a recession, Microsoft‘s new search engine Bing partnered with Seattle-based salary comparison company PayScale. The partnership will give Bing users instant access to thousands of salary details in the over 17.5 million salary profiles on PayScale.
—Greg reported that Microsoft also spun out a new startup last week called Inishtech. Created to handle software licensing and protection services, the new company will be based in Dublin, Ireland.
––Vu1, a Seattle-based maker of energy-efficient light bulbs announced $500,000 in venture capital funding the same day as the resignation of their CEO. A manager of the venture capital group and Vu1’s president took on the CEO position the same day.
—In Hillsboro, OR, photovoltaic cell maker Spectrawatt, was chosen along with 12 other companies to to receive $500,000 in funding from the National Renewable Energy Laboratory as part of the American Recovery and Reinvestment Act. The companies were given the money to speed up commercialization of solar energy.
—Luke reported that three University of Washington scientists have started a new company to develop cells that can replace pacemakers and even perhaps rebuild damaged heart tissue. Beat BioTherapeutics is based in Bellevue, WA and is combining stem-cell research with biomedical engineering with an initial $20 million from the National Institute of Health.
—Most recently, Bothell, WA-based mobile software developer Dexterra was acquired today by rival Antenna in a deal reportedly worth $18 million. Antenna, located in Jersey City, NJ, said it plans on keeping on many of Dexterra’s employees and on keeping their offices open.