Aldagen

Crisis: A UK bailout for the biotech industry?

John Carroll — Wed, 08 Oct 2008 11:05:07 -0400

The UK's Chris Evans is continuing to try and drum up support for a billion-pound investment fund to support the country's ailing biotech and medical device industry, with half of that money coming from the government. Evans is emphatic that the country's biotech industry is in danger of falling far behind other countries' drug development industries. And that calls for a swift injection of funds--just like the banks are getting.

"You cannot dream up billion-pound successes," says Evans. "They need cash and Gordon Brown needs to support the sector, as is happening with banking, by getting the check book out."

- check out the report from Business in Wales

ALSO: The long drought of IPOs in the U.S., meanwhile, shows no signs of letting up anytime soon. And Aldagen bowed to the inevitable, pulling its registration for an $80.5 million offering. Report

Early IPO at Aldagen leaves analysts wondering

Mon, 19 May 2008 06:59:54 -0400

A pair of analysts has taken a cautious attitude toward Aldagen's plans for an $80 million IPO. The stem-cell company has no products on the market, makes no profit and is attempting to pioneer an FDA approval in an emerging field. None of that exactly breeds confidence, especially given the arctic chill that has afflicted biotech IPOs recently.

"These are the worst capital markets for biotech in the last five years," says Steve Brozak, an analyst at WBB Securities. "Their technology is good, but it's a tough equity market."

- read the report from the New York Times

Elixir drops IPO, Aldagen launches IPO

Mon, 12 May 2008 06:59:55 -0400

Elixir Pharmaceuticals has dropped its bid for an $86 million IPO, saying that market conditions aren't right. At the same time, Aldagen, a small biotech company with 18 employees, is making a bid to raise $80 million in an IPO. Aldagen is developing adult stem cell therapies.

The News & Observer notes that if Aldagen is successful, it will raise new funds for research while setting up an exit for its investors. The developer was set up in 2000 to exploit new research at Duke.

- check out the report on Elixir
- see Aldagen's release and read the story for more

Aldagen gets $18.4M in fourth round

Fri, 25 Apr 2008 06:59:56 -0400

With the help of Intersouth Partners, Tullis-Dickerson, Harbert Venture Partners and The Aurora Funds, stem cell technology company Aldagen has closed an $18.4 million fourth round of funding. The company plans to use the funding to to advance four clinical-stage product candidates and for general corporate purposes. Durham, NC-based Aldagen has been developing adult stem cell therapies for leukemia, damaged heart muscles and other ailments.

- check out Aldagen's release
- read this report for more

ALSO: Malvern, PA-based CRO Frontage Laboratories has raised $10 million in growth equity funding. Release

Aldagen adds $9M in new venture funds

Thu, 13 Sep 2007 06:59:55 -0400

Durham, NC-based Aldagen has added $9 million in new money for its third round, bringing total investment in the Series C to $23 million. That money will be put to use developing new stem cell therapies. Aldagen was founded in 2000 and is developing programs with technology initiated at Duke University. Researchers at the company have been developing adult stem cell therapies for leukemia, damaged heart muscles and more. Its third round is expected to be enough to fund the company until mid-2009. CNF Investments and Tullis-Dickerson are now betting on the company's success.

- see Aldagen's release
- read the report from the Triangle Business Journal

Related Article:
Aldagen gains $17.3M in financing. Report