Cerus (NSDQ:CERS) said today that it exercised $46.6 million in additional options from its contract with the Biomedical Advanced Research & Development Authority, a part of the U.S. Dept. of Health and Human Services’ Office of the Assistant Secretary for Preparedness and Response. Concord, Calif.-based Cerus is developing the Intercept blood system, a pathogen reduction device designed […]
Funding Roundup
OptiNose raises $37m in Series D for commercial efforts
OptiNose said today that it closed a $37 million Series D round led by Fidelity Management and Research Company. Avista Capital Partners, Entrepreneurs Fund and other current investors also contributed to the round. The Yardley, Penn.-based company said it plans to use the newly-acquired funds to support commercial development of its lead product candidate, OPN-375, […]
Magenta raises $50m, inks partnership with Novartis for stem cell transplant drugs
Magenta Therapeutics said today that it closed a $50 million Series B round and licensed a clinical-stage program from Novartis (NYSE:NVS) to advance its stem cell transplantation platform. The company also inked a partnership deal with Be The Match BioTherapies. Google’s venture arm, GV, led the financing round and was joined by existing investors, including […]
Lyndra gets boost for drug delivery platform from U.S. allergy institute
Lyndra said today that it won a 5-year grant from the National Institute of Allergy and Infectious Diseases, a branch of the National Institutes of Health. The grant is slated to support the formulation and preclinical development of a once-weekly oral HIV treatment. The Watertown, Mass.-based company makes use of a sustained-release technology developed by Robert […]
Savara inks $15m loan agreement
Savara (NSDQ:SVRA) said today that it inked a $15 million loan agreement with Silicon Valley Bank. According to the deal, Savara can draw $7.5 million from the $15 million debt facility immediately. The company said it plans to use its newly-acquired capital to repay the pre-merger debt of $3.7 million it owes to Hercules Technology […]
Reva plans $40m convertible note offering
Reva Medical (ASX:RVA) said yesterday that it’s planning a $40 million convertible note offering with several institutional and 1 undisclosed corporate investor to fund the company’s ongoing needs, including the clinical development of its Fantom sirolimus-eluting bioresorbable coronary scaffold. Upon issuance of the convertible notes, the company is slated to receive $32.5 in net cash […]
DelMar closes $9m public offering
DelMar Pharmaceuticals (NSDQ:DMPI) closed its $9 million public offering today. Earlier this week, the company priced 2.8 million shares and warrants to purchase an aggregate of 2.1 million shares of common stock at $3.25 apiece. The offering’s warrants have an exercise price of $3.50 per share and have an term of exercise of 5 years, according to […]
SteadyMed raises $30m for Trevyent commercial launch
Shares in SteadyMed (NSDQ:STDY) rose 6% today after the company said it inked a $30 million private placement with Adage Capital Management, OrbiMed, Deerfield Management and Kingon Capital Management. The San Ramon, Calif.-based company plans to use its newly-acquired funds to prepare for the commercial launch of its pulmonary arterial hypertension treatment, Trevyent. The therapy is […]
MeMed wins $9.2m DoD deal for diagnostic device
MeMed said today that it won a $9.2 million contract from the Defense Threat Reduction Agency, a branch of the U.S. Dept. of Defense, for its diagnostic platform that distinguishes bacterial infections from viral infections. The Israel-based company has developed a test to recognize the distinct human immune signatures of both bacterial and viral infections […]
GE funds startups to make overdose reversal devices more accessible
General Electric (NYSE:GE) is reportedly funding 2 of the startups that launched out of its opioid hack-a-thon last year, even though only 1 of the companies won. The company is backing GEM Boxes, the competition’s winner, and We Are Allies with more than $20,000 worth of funding to help curb the opioid epidemic that kills 91 […]
