Quaker Bioventures

Transave aims for proof-of-concept after $35M round

Mon, 31 Mar 2008 07:59:56 -0400

Venture capitalists Rich Kollender and Steve Kraus are joining the board at Transave after helping come up with $35 million in new venture backing to get the developer through to proof-of-concept data. Quaker BioVentures and Bessemer Venture Partners led the Series D, joined by TVM Capital, Prospect Venture Partners, Fidelity Biosciences, Forbion Capital Partners and Easton Capital.

"Proceeds from the financing will enable Transave to deliver Phase II proof of concept data for our lead clinical compound, Arikace (liposomal amikacin for inhalation). We are on track to have Arikace Phase II clinical data in cystic fibrosis patients that have Pseudomonas lung infections this year. In addition, Phase II bronchiectasis data will be available in the first half of 2009," said Tim Whitten, president and CEO of Transave.

The biotech describes Arikace as a form of the antibiotic amikacin enclosed in nanocapsules of lipid called liposomes. This "liposomal technology prolongs release of amikacin in the lung while minimizing systemic exposure."

- check out the press release

Tranzyme's $20M round takes lead therapy to Phase III

Thu, 01 Nov 2007 07:59:56 -0400

With its lead therapy as little as two years from approval, Durham, NC-based Tranzyme has pocketed a $20 million injection from its venture backers. The biotech is developing therapies for post-operative ileus and diabetic gastroparesis. TZP-101 is being tested in Phase IIb trials to determine if it is more effective than standard therapy. Data is expected this spring with a round of final testing to get started soon after. Thomas, McNerney & Partners, Quaker BioVentures and H.I.G. Ventures are gambling their money that Tranzyme can deliver. "This capital will allow us to bring our first-in-class GI motility drug, TZP-101, into Phase III clinical studies for multiple indications," said CEO Vipin K. Garg, Ph.D. Tranzyme was a 2005 Fierce 15 company.

- check out the release
- here's the report from the News & Observer

ALSO: San Diego-based Novalar Pharmaceuticals has closed a $30 million Series D financing. The money is being used to support the U.S. launch of NV-101, a first-in-class, local dental anesthetic reversal agent, and the development of other dental pharmaceuticals in Novalar's pipeline. Release

Topigen adds $25M in new venture funds

Wed, 15 Aug 2007 06:59:57 -0400

Canada's Topigen Pharmaceuticals has gained $25 million in venture support for its clinical programs in respiratory disorders. The round brings the biotech's total financing to $71 million to date. The investment is earmarked for Phase II clinical programs relating to its lead products, TPI 1020, a small-molecule drug in development for Chronic Obstructive Pulmonary Disease and TPI ASM8, its RNA-inhibiting therapeutic for asthma.

In this round, new investors NovaQuest and MMV Financial join the existing venture investors: BDC Venture Capital, Desjardins Venture Capital, Caisse de Dépot et Placement du Québec, T2C2/BIO 2000 and Lothian Partners 27 SICAR. Additional funds and investors may be added to this financing.

- see the release for more information

ALSO: Quaker BioVentures has led a $13 million Series C round for EKR Therapeutics. Launched last summer, EKR markets a pain drug. Release

Tobira garners $31M to advance HIV drugs

Thu, 02 Aug 2007 06:59:54 -0400

Up-start biotech Tobira Therapeutics, which is developing HIV/AIDS drugs, has raised $31 million in its first round of venture capital. Domain Associates and Frazier Healthcare Ventures led the round for Tobira, which also announced that James Sapirstein has been named CEO. Tobira is getting started on its development work with therapies licensed in from Japan's Takeda. Tobira announced that it has licensed in TAK-652 and TAK-220, CCR5 antagonists that can be administered orally and bind CCR5 receptors to interfere with the entry of the HIV-1 virus into macrophages and activated T-cells by inhibiting fusion between viral and cellular membranes.

- read the report from SoCalTech

ALSO: Princeton, NJ based Celator Pharmaceuticals has closed a $10 million follow-on round of financing from Domain Associates, Quaker BioVentures, TL Ventures, Ventures West Management, GrowthWorks Capital, the Business Development Bank of Canada and Hearthstone Investment. Release

Anthera raises $36M for clinical development work

Tue, 12 Sep 2006 20:01:34 -0400

Anthera Pharmaceuticals has raised $36 million in venture financing, much of which will be devoted to the clinical development of its newly-licensed anti-inflammatory compounds. In particular, Anthera plans to start a Phase II trial of A-001 as an early intervention therapy for acute chest syndrome in patients with underlying sickle cell disease. San Francisco-based Anthera announced its licensing deal with Eli Lilly and Shionogi just a week ago. VantagePoint Venture Partners and Sofinnova Ventures led the round and were joined by Pappas Ventures, Mitsubishi International Corporation, along with Series A-1 investors Sears Capital Management and SIM Eq.

"Anthera is a compelling company for Sofinnova because it falls into our investment sweet spot," commented Sofinnova Ventures General Partner Jim Healy, who is joining the board. "With a first rate management team and a promising drug pipeline spun off from big pharma, it has the same poise for success that we have experienced with some of its predecessors in the pulmonary space, such as Actelion, Intermune and CoTherix."

- here's the release on Anthera's round

PLUS: NuPathe of Conshohocken, PA has raised $15 million in its first round, led by Birchmere Ventures of Pittsburgh, Pennsylvania and BioAdvance Ventures, an early-stage venture fund managed by Quaker BioVentures. Release

VC: Espirit Pharma lands $91M in VC

Wed, 09 Aug 2006 20:01:32 -0400

Espirit Pharma lands $91M in VC

VENTURE CAPITAL
COMPANY	AMOUNT/ROUND	LEAD INVESTORS	DESCRIPTION
Esprit Pharma East Brunswick, NJ & San Francisco	$91M Second	New Enterprise Associates, Apax Partners, Domain Associates, Montagu Newhall Global Partners and Oak Investment Partners	Esprit is focused on urology and women's health care specialty markets.
ESBATech Switzerland	$41M Second	SV Life Sciences, Clarus Ventures, HBM BioVentures and HBM BioCapital all participated with existing investors such as Novartis Venture Fund, BioMedinvest and VI Partners	The company has been building a human antibody fragment platform.
Acceleron Troy, Michigan	$30M Second	OrbiMed Advisors	Acceleron's lead candidate is ACE-011, an experimental therapy for bone loss that is now in early-stage clinical trials.
Cabrellis Pharmaceuticals San Diego, CA	$27.5M First	Domain Associates, Forward Ventures, Lilly Ventures, Novo A/S, ProQuest Investments, RBC Capital Partners, RiverVest Venture Partners, and S.R. One, Limited	Cabrellis will use the money to advance its oncology candidates, in particular Calsed, its third-generation anthracycline currently in Phase II.
Biodel Danbury, CT	$21M Second	Great Point Partners, OrbiMed Advisors, and Vivo Ventures	Biodel develops drug delivery technologies.
Transport Pharmaceuticals Philadelphia and Framingham, MA	$12.6M Fourth	Quaker BioVentures	Transport develops new therapies for dermatological conditions.

Transport Pharma adds $12.6M in fourth round

Mon, 31 Jul 2006 20:01:37 -0400

Transport Pharmaceuticals has added $12.6 million to its fourth round of financing, bringing its total to $29.6 million. Transport has offices in Philadelphia and Framingham, MA. Transport specializes in developing new therapies for dermatological conditions. Quaker BioVentures of Philadelphia led the round with The Carlyle Group. To date, Transport has garnered $35.6 million in venture funds.

- see this report on Transport Pharma from the Philadelphia Business Journal

VC: VLST lands $55M second round

Wed, 28 Jun 2006 20:01:32 -0400

VLST lands $55M second round

VENTURE CAPITAL
COMPANY	AMOUNT/ROUND	LEAD INVESTORS	DESCRIPTION
VLST Seattle, WA	$55M Second	Texas Pacific Group Ventures	VLST is studying the way in which viruses attack immune systems in order to devise new therapies for multiple sclerosis, psoriasis and lupus.
Tengion King of Prussia, PA	$50M Second	Quaker BioVentures, Bain Capital	Tengion is developing a method for making replacement organs from the cells of patients.
Rib-X New Haven, CT	$50M Third	Warburg Pincus	Rib-X is researching next-gen antibiotics.
Adnexus Therapeutics Waltham, MA	$27M Second	Venrock Associates	Adnexus is researching a class of protein therapeutics.
GlycoMimetics Gaithersburg, MD	$15.4M Second	New Enterprise Associates	GlycoMimetics is developing novel drug therapies based on specific roles played by certain carbohydrates.

Tengion garners $50M in VC

Mon, 26 Jun 2006 20:01:35 -0400

Tengion, which is developing a method for making replacement organs from the cells of patients, raised $50 million from a group of venture capital firms led by Quaker BioVentures and Bain Capital. Much of the money will be used to fund human trials of its neo-bladder. "We believe Tengion is a world leader in regenerative medicine," said Brenda Gavin, managing partner of Quaker BioVentures. "The neo-bladder is one of the most promising developments in this field."

- read this Philadelphia Business Journal report on the round

PLUS: Adnexus Therapeutics of Waltham, MA has raised $27 million in its second round. Release

VC: Novagali leads with 26M euros

Wed, 19 Apr 2006 20:01:32 -0400

Novagali leads with €26M in VC.

VENTURE CAPITAL
COMPANY	AMOUNT/ROUND	LEAD INVESTORS	DESCRIPTION
Novagali France	26M euros Third round	AGF Private Equity, Bernard Chauvin	The financing will support Phase III clinical trials and development of new ophthalmic products.
Bayhill Therapeutics Palo Alto, CA	$15.8M Second round	Current investors	With this additional capital, the company closed its second round at $51.2 million.
SkinMedica Carlsbad, CA	$11.2M Fifth round	Montagu Newhall Associates	SkinMedica develops products that treat dermatologic conditions and diseases.
Theranox Philadelphia	$14M First round	Quaker BioVentures, NewSpring Capital	The financing will fund clinical trials and commercialize the use of gaseous nitric oxide for the treatment of chronic wounds.

Bayhill raises $15.8M in VC

Mon, 10 Apr 2006 20:01:35 -0400

Bayhill Therapeutics, a company focused on autoimmune diseases, has raised $15.8 million in series B funding for a total round of $51.2 million. "Acknowledging success of BHT-3009, the first drug candidate from Bayhill's antigen-specific platform, current investors paid additional funds into Bayhill to advance its second antigen-specific drug candidate, BHT-3021 for Type 1 diabetes, into Phase I/II human clinical trials," said Mark W. Schwartz, Ph.D., President and CEO, Bayhill Therapeutics. The company also announced that it has begun dosing patients in a Phase II trial of with BHT-3009, a multiple sclerosis treatment.

- see the company's press release

PLUS: Vancouver-based Xenon Pharmaceuticals has raised $31 million in funding. The round was led by MX Associates and LipoteRx and will support the the growth of Xenon's clinical programs. Xenon focuses on neurological, cardiovascular and metabolic diseases. Release

ALSO: Theranox has raised over $14 million in Series A financing to fund clinical trials and commercialize the use of gaseous nitric oxide for the treatment of chronic wounds. The round was led Quaker BioVentures and NewSpring Capital. Release

VC: Insulet leads with $50M round

Wed, 22 Feb 2006 19:01:32 -0500

Insulet leads with $50M round

VENTURE CAPITAL
COMPANY	AMOUNT/ROUND	LEAD INVESTORS	DESCRIPTION
Insulet Bedford, MA	$50M Fifth	OrbiMed Advisor	The funding will be to expand capacity to meet the demand for the OmniPod Insulin Management System.
Precision Therapeutics Pittsburgh, PA	$20M Undisclosed	Quaker BioVentures	Precision will use some of the money to commercialize a diagnostic tool for selecting the right chemotherapy treatment for patients. It will also fund new trials in ovarian cancer research.
Supernus Pharmaceuticals Rockville, MD	$17.5M Second closing of first round	New Enterprise Associates	The funding will help the startup use its patents to improve its own portfolio and to partner with other pharmaceutical companies.
Aesthera Corp. Pleasanton, CA	$11M Third	Kleiner Perkins Caufield & Byers	Aesthera will continue the company's R&D efforts for its Photopneumatic Technology and will further expand global sales channels and marketing efforts.
Acologix Hayward, CA	$4.5M Second closing of third round	Ascent Biomedical Ventures	The money is earmarked for a Phase III trial of AC-820, an experimental therapy for uremic pruritus in dialysis patients.

Precision Therapeutics adds $20M in VC funds

Mon, 20 Feb 2006 19:01:37 -0500

Pittsburgh-based Precision Therapeutics has raised $20 million in venture capital, with Quaker BioVentures taking the lead role. Precision will use some of the money to commercialize a diagnostic tool for selecting the right chemotherapy treatment for patients. Precision Therapeutics says it will double its staff of 35 by year's end, including new hires in sales. Money will also go to fund new trials in ovarian cancer research. No IPO is in the offing, at least for now.

"Some companies have already gone public with similar business models, so a lot of people are very excited about us and see that there are companies that can bring personalized medicine to reality," said CEO Sean McDonald.

- here's the report from the Pittsburgh Business Times

PLUS: Supernus Pharmaceuticals of Rockville, MD has raised an additional $17.5 million in a second closing of its first round of venture capital. Release

Editor's Corner

Thu, 29 Sep 2005 20:01:40 -0400

We've got a great lineup of speakers for FierceBiotech's upcoming webinar on venture capital in 2006. Steven Burrill of Burrill & Co., Sherrill Neff of Quaker BioVentures and Scott Minick of Arch Venture Partners will all be on hand October 27 at 2pm ET to discuss what they see as the most important trends influencing the biotech companies raising funds in the year ahead. Gil Forer of Ernst & Young will lead things off with a discussion of the key trends we've seen so far this year and how they'll likely develop in months to come. Next week we'll start running promos on the webinar where you can sign up. If you have any plans to raise funds or will be advising biotech executives on what they need to do to better position themselves, this will be the best hour-long commitment you ever made. Next year FierceBiotech plans to put on a series of webinars as we broaden our coverage of the industry. If you have any ideas, email them to me. Your feedback is valuable. - John Carroll

Amicus gins $55M in third round, outlines Phase II

Wed, 07 Sep 2005 20:01:38 -0400

Amicus Therapeutics has raised $55 million in its third round of venture capital and simultaneously announced it would launch a mid-stage trial of its lead drug candidate following the successful conclusion of Phase I. Quaker BioVentures led the round. Amicus has been focusing much of its attention on Amigal, an experimental drug for Fabry disease. Amicus' second product candidate, AT2101, a treatment for Gaucher disease, is in late stage preclinical development with clinical trials expected to commence in the first half of 2006.

- read this press release for more

ALSO: Replidyne of Louisville, Colorado, has garnered $62.5 million in its fourth venture round. Replidyne's lead product, faropenem medoxomil, is an oral antibiotic for a community of infections such as respiratory tract infections. Release

Immune Control gains $11.3M in venture capital

Wed, 13 Jul 2005 20:01:35 -0400

Immune Control of Conshohocken, Pennsylvania, has rounded up $11.3 million in venture capital from BioAdvance Ventures, a venture fund run by Quaker BioVentures, Domain Associates, NewSpring Capital and Anthem Capital. Immune Control says the money will fund two trials of serotonin antagonists as treatments for diseases marked by aberrant immune activation.

- read this press release for more