Hey, it's not all bad news out there. Despite the drumbeat of reports on the fallout from the credit crisis, two more biotechs report lining up new rounds.
A new regulatory filing reveals that Pacira Pharmaceuticals has extended its Series A round from the original $30 million to $85 million. MPM Capital, HBM BioVentures, OrbiMed Advisors and Sanderling Ventures were all involved in the round. The San Diego-based developer is currently in a Phase III program for DepoBupivacaine for postsurgical pain.
And Cambridge, MA-based ZafGen reported that it has raised $14 million in a Series B. Atlas Venture, which had helped raise $5.2 million in an earlier round, joined Third Rock in the round. The biotech is working on an obesity treatment based on the vascular targeting of adipose tissue.
- read the report from Private Equity Hub on Pacira
- and here's PE Hub's report on ZafGen