R.W. Beck Aligns with SAIC, Blackbox Republic Gets Seeded, Bio Architecture Lab Raises Cash, & More Seattle-Area Deals News
With the start of real summer weather in the Northwest, we’ve seen some good deal action heating up in Internet software, biotech, and energy in the past week.
—Seattle-based consulting firm R.W. Beck is being acquired by government contractor SAIC (NYSE: SAI) in San Diego for $155 million. It’s one of the Northwest’s bigger tech deals of the past year. R.W. Beck’s 550 employees (125 in Seattle) won’t be relocating, and Beck CEO Russ Stepp says the deal will help his company pursue larger projects in areas like energy and water management, while also helping SAIC take smart grid and modeling technologies into utility markets.
—Bothell, WA-based OncoGenex (NASDAQ: OGXI), a developer of cancer drugs, reached agreements to raise $9.5 million from institutional investors through a registered stock offering, as Luke reported. In May, the company presented data showing its prostate cancer drug, OGX-011, helped men live a median time of about 7 months longer when combined with chemotherapy, as compared to chemo alone.
—Portland, OR-based Internet startup AboutUs closed $1.2 million from Seattle-based Voyager Capital and other investors. This tranche closing rounds out the company’s Series A funding and includes $1 million from Voyager (fulfilling its previous $2.5 million commitment). AboutUs focuses on information discovery and sharing online.
—Seattle-based Blue Marble Energy has raised an undisclosed amount of Series A funding from unnamed investors, as Eric reported. The company is working on ways to convert algae and waste into useful chemicals and renewable fuel. In April, Blue Marble Energy closed approximately $1 million out of a $2 million equity offering, according to a regulatory filing.
—Bio Architecture Lab, a Seattle-based University of Washington spinout, raised $3.4 million in equity funding out of a $6 million offering. The investors were not disclosed. The stealth startup, which raised $1.5 million from X/Seed Capital last year, is using synthetic biology and computational enzyme design to make biofuels and renewable chemicals from relatively cheap, sustainable biomass sources.
—Kirkland, WA-based OVP Venture Partners led a $15 million Series C investment in San Francisco-based Limerick BioPharma. The other investors include Arch Venture Partners, Sevin Rosen Funds, and Altitude Funds. It’s a new portfolio company for OVP, and managing director Chad Waite has joined Limerick’s board.
—Portland, OR-based Blackbox Republic, a niche social network, has raised $1 million in seed funding from angel investors. Blackbox is led by former Jive Software exec Sam Lawrence. The company is targeting the sex positive community, and wants to fill the void between Facebook and Match.com.