Recent Financings Of Private Companies, April 2013

Article preview from Start-Up - April, 2013

Derived from Strategic Transactions, Elsevier Business Intelligence’s premium source for tracking life sciences deal activity, the Recent Financings Of Private Companies column provides a comprehensive monthly review of emerging life science companies that have received venture funding, including companies within the In Vitro Diagnostics, Medical Devices, and Pharmaceuticals sectors.

Recent Financings Of Private Companies, April 2013

Article preview from Start-Up - April, 2013

Singapore-based cancer diagnostics company Clearbridge BioMedics has raised $S9mm ($7.2mm) through a Series B round led by Vertex Venture Holdings (the VC arm of Temasek Holdings). New investors Spring Seeds Capital, Clearbridge BSA Pte. Ltd, and Lu Yoh Chie (founder of Biosensors International) also participated, along with returning backer BioVeda. Mr. Lu Yoh Chie becomes Clearbridge’s chairman, and Vertex Venture takes a seat on the board. (Mar.)

Clearbridge was spun out of the National University of Singapore in 2009 to develop a non-biomarker based system for the detection of circulating tumor cells (CTCs) in the blood. The company’s first product is the ClearCell system, which uses microfluidic biochips (CTChips) to isolate and retrieve intact CTCs from small blood samples. The cells are then stained for identification, counting, and further analysis to assist in the screening, diagnosis, and staging of cancer, and also for personalized treatment planning and post-therapy monitoring. Clearbridge will use the Series B proceeds to develop a next-generation ClearCell system, which will consist of the ClearCell unit and a single-use CTChip.

Diagnostics firm Saladax Biomedical Inc. received $22.4mm through the first closing of its Series D round from new partner Shanghai Fosun Pharmaceutical Group Co. Ltd. The company hopes to close the round at $30mm later this year. Fosun's investment was made concurrent with an announcement that the company will manufacture and market Saladax's MyCare chemotherapy dose management assays in China. Saladax will use the Series D proceeds to expand the MyCare line; it is currently marketed outside the US for use with three widely known chemotherapies, and an additional ten assays are in development. (Mar.)

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No publication reviews leading edge companies and technology better than Start-Up. Each issue of Start-Up profiles the most important new product companies, identifies the hottest technology areas, reviews funds flowing into private companies and investment trends, and reports on university tech transfer licensing. Industries covered: pharmaceuticals, biotechnology, medical equipment & devices, and in vitro diagnostics.

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