jump to navigation

Magen Biosciences, a Waltham, MA-based company focused on novel dermatology treatments, is acquired by the contract research firm PPD for $14.5 million December 18, 2010

Posted by HubTechInsider in Acquisitions, Biotech, Health Care IT, Pharmaceuticals, Startups.
Tags: , , , , , , , , , , , , , ,
add a comment
Image representing Magen BioSciences as depict...

Image via CrunchBase

Magen Biosciences, a Waltham, MA-based company focused on novel dermatology treatments, will be acquired by the contract research firm PPD for $14.5 million. The firm was founded in 2006 by a well known group of biotech entrepreneuers and investors, including Rich Aldrich, founder of RA Capital, David Fisher, chief of dermatology at Massachusetts General Hospital, and Christoph Westphal, co-founder of Sirtris Pharmaceuticals. Having raised $17 million in seed and Series A financing from a syndicate of backers including ARCH Venture Partners, TVM Capital, and IDG Ventures (now Flybridge Capital Partners), the purchase price is unlikely to result in an exit for Magen’s backers.

Back in 2008, Magen inlicensed for an undisclosed sum a number of derm compounds from Eli Lilly that showed positive anti-inflammatory and anti-proliferative results in preclinical studies. It’s a good thing they did: those compounds were the primary reason for PPD’s interest in the biotech. The buy-out gives PPD an entrée into the specialist field of dermatology. In a press release announcing the news, PPD CEO Fred Eshelman noted that dermatologic treatments generally have a “more straightforward path to regulatory approval.” That’s certainly part of the logic behind moves of another specialist drug maker, Valeant, which is trying to brand itself as a derm power-house thanks to the recent acquisitions of Coria Laboratories, Dow, and DermaTech.

Cambridge’s PatientsLikeMe, Inc., raises $8 Million from a group of undisclosed investors August 23, 2010

Posted by HubTechInsider in Startups, Venture Capital.
Tags: , , , , , , , ,
add a comment
Image representing PatientsLikeMe as depicted ...

Image via CrunchBase

Cambridge’s PatientsLikeMe, Inc., a provider of social networking sites for people with specific illnesses, raises $8 Million from a group of undisclosed investors.

Newton’s MedNetworks, Inc. raises $5 Million in a Series A August 21, 2010

Posted by HubTechInsider in Health Care IT, Social Media, Startups, Venture Capital.
Tags: , , , , , , ,
add a comment

Newton’s MedNetworks, Inc., a provider of technology for analyzing real life social networks of physicians and patients, raises $5 Million in a Series A round of equity funding led by Excel Venture Management.

American Well, Boston based Health Care Startup, raises $10 Million in secrecy November 1, 2009

Posted by HubTechInsider in Health Care IT, Venture Capital.
Tags: , ,
add a comment

American Well, a Boston-based company that provides a Web-based system in use by several large health plans to let their members consult with doctors over the Internet, has raised $10 million in new equity funding, according to a regulatory filing with the S.E.C. The documents don’t name the funders in the round, continuing the company’s track record of secrecy around the amount of financing it’s raised and the identities of its investors.

%d bloggers like this: