Welcome to Venture Valuation’s VC Deal Summary · 2013-03-26 · Sciences, Clarus Ventures, MedImmune Ventures and Advanced Technology Ventures. (Source: ... in the round, including

Welcome to Venture Valuation’s VC Deal SummaryWelcome to Venture Valuation’s VC Deal SummaryWelcome to Venture Valuation’s VC Deal SummaryWelcome to Venture Valuation’s VC Deal Summary

Zurich, Zurich, Zurich, Zurich, MarchMarchMarchMarch 2013201320132013:::: The weak start formonth’s financings in Therapeutics and January 2013.

In February, companies in T&D raised a total of substantially down on the USD 236raised in Feb 2011.

Europe managed to raise USD 43 M However, US financings were down a hefty 45

whereas EU financings were actual

The three highest capital raisings managed to attract USD 47 M, UK based

round of USD 20 M which was in addition to the company’s

companies managed to attract 50% of the total finanthe financing rounds of these companies and

Financial highlights of

* The graph contains only financing rounds of private & independent biotech therapeutic and diagnostic companies. Financing amounts and number of rounds from previous months may alter as new information on financing rounds is received and/or new tranches to existing financing rounds are adde

Welcome to Venture Valuation’s VC Deal SummaryWelcome to Venture Valuation’s VC Deal SummaryWelcome to Venture Valuation’s VC Deal SummaryWelcome to Venture Valuation’s VC Deal Summary

The weak start for 2013 financings continued into the month ofTherapeutics and Diagnostics (T&D) recorded lower numbers than those in

raised a total of USD 177 M from 16 financing rounds. down on the USD 236 M raised at the same time in Feb 2012 and on par

M (24% of total) and the US raised the remaining down a hefty 45% from what the US managed to raise in

EU financings were actually up almost by the same amount.

in February 2013 were from Jounce Therapeutics, a start up that UK based Glide Pharmaceutical with USD 22 M and Elce

was in addition to the company’s last raising six months ago

% of the total financings raised in February. Cof these companies and others for the month of February 2013 below.

Financial highlights of the life sciences industry

independent biotech therapeutic and diagnostic companies. Financing amounts and number of rounds from previous months may alter as new information on financing rounds is received and/or new tranches to existing financing rounds are added.

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into the month of February. Last recorded lower numbers than those in

financing rounds. The figures were on par to the USD 176 M

the remaining USD 134 M. what the US managed to raise in January,

were from Jounce Therapeutics, a start up that Glide Pharmaceutical with USD 22 M and Elcelyx’s Series C

months ago. These three

cings raised in February. Continue reading about February 2013 below.

independent biotech therapeutic and diagnostic companies. Financing amounts and number of rounds from previous

2

Financing rounds

Catabasis Raises Catabasis Raises Catabasis Raises Catabasis Raises USD USD USD USD 9M For PhII9M For PhII9M For PhII9M For PhII----Ready Drug Development ProgramReady Drug Development ProgramReady Drug Development ProgramReady Drug Development Program Catabasis Pharmaceuticals (Cambridge, MA) has gone back to the well to raise close to USD 9 M, according to documents filed with the Securities and Exchange Commission.

Cambridge, MA-based Catabasis scored an additional USD 8 M for its Series A back in late 2011, pushing the first round up to USD 47.6 M as the developer advanced a second omega-3 drug program

through a Phase I study ahead of schedule. That round was pieced together with cash from SV Life

Sciences, Clarus Ventures, MedImmune Ventures and Advanced Technology Ventures. (Source: FierceBiotech.com)

Cyvek, Inc. Secures Cyvek, Inc. Secures Cyvek, Inc. Secures Cyvek, Inc. Secures USD USD USD USD 5.5 5.5 5.5 5.5 MMMM In Series D FinancingIn Series D FinancingIn Series D FinancingIn Series D Financing

CyVek, Inc. (Wallingford, CT) an innovator in multi-analyte immunoassay technology, announced that it has secured a Series D round of financing in the amount of USD 5.5 M.

Connecticut Innovations and a group of private investors participated in the round. The Series D funding enables the company to create the infrastructure needed to commercialize its

novel immunoassay technology, CyPlex™, an integrated test system which includes a proprietary microfluidic cartridge that allows the analysis of multiple biomarkers from very small amounts of biological samples. This technology has broad appeal in research and clinical applications. Initially the

CyVek system will be used in biomarker analysis in life sciences, drug discovery and clinical research.

CyVek is currently in the beta testing phase. (Source: Company website)

BioABioABioABioAegis Therapeutics Raises egis Therapeutics Raises egis Therapeutics Raises egis Therapeutics Raises USD USD USD USD 3M3M3M3M

BioAegis Therapeutics (Boston, MA) a Boston, MA-based therapeutics startup, completed a funding of

over USD 3m. Backers included Family Offices and other unnamed private investors.

Founded in 2011 by Dr. Thomas Stossel, director of Translational Medicine at Brigham and Women’s

Hospital and American Cancer Society Professor of Medicine at Harvard Medical School, BioAegis aims to harness the body’s innate immune system to address serious outcomes in diseases driven by inflammation.

The company intends to use the capital to open a US IND and initiate a biomarker-driven Phase 2b/3 pivotal trial to demonstrate that repletion of human plasma gelsolin (pGSN) can prevent the spread of inflammation leading to Multiple Organ Dysfunction Syndrome (MODS) in the ICU. Separately, BioAegis

is planning to advance this biologic in relevant Orphan Indications and initiate an effort to

commercialize a plasma gelsolin biomarker diagnostic. (Source: FinSMEs.com)

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Elcelyx Therapeutics Completes Elcelyx Therapeutics Completes Elcelyx Therapeutics Completes Elcelyx Therapeutics Completes USD USD USD USD 20 20 20 20 MMMM Series C Financing Series C Financing Series C Financing Series C Financing To To To To AdvanceAdvanceAdvanceAdvance Newmet And Newmet And Newmet And Newmet And LovidiaLovidiaLovidiaLovidia

Elcelyx Therapeutics (San Diego, Calif) announced the closing of a USD 20 M Series C financing to fund development of product candidates NewMet™ for Type 2 diabetes and Lovidia™, an over-the-counter

weight loss product.

The financing was led by GSM Fund LLC, a fund dedicated to this single investment and managed by Rick

Barry, who has been elected to the Elcelyx Board of Directors. All previous investors also participated in the round, including Morgenthaler Ventures, Kleiner Perkins Caufield & Byers, and Technology

Partners.

Elcelyx has raised a total of USD 43 M since it was founded in 2010 and advanced its two first-in-class Gut Sensory Modulators (GSM) for the treatment of diabetes and weight loss into late-stage clinical

development. (Source: Fiercebiotech.com)

Langer’s BIND Biosciences Secures Langer’s BIND Biosciences Secures Langer’s BIND Biosciences Secures Langer’s BIND Biosciences Secures USD USD USD USD 8.7M8.7M8.7M8.7M

Clinical stage biopharmaceutical company BIND Biosciences Inc. (Cambridge, MA) has received USD 8.7 M in equity financing, federal documents show.

Cambridge, Mass.-based BIND, which develops nanoparticle technology that concentrates a drug right at the site of cancer cells (which minimizes exposure to the healthy tissue and decreases side effects),

received the funding from a total of 20 investors.

In October 2011, BIND received a USD 47.35 M financing from RUSANO, a billion dollar investment fund focused on nanotechnology, existing investors and new investors.

Co-founded in 2007 by Omid Farokhzad, associate professor at Harvard Medical School and physician-

scientist at Brigham and Women’s Hospital, and serial entrepreneur Robert Langer, BIND also has its

own proprietary drug candidates. The company’s lead compound, BIND-014, is in Phase 1 clinical testing. (Source: BizJournals.com)

Aerial Biopharma Announces Closing Of Second Tranche Of Series A; Expects To Complete Phase Aerial Biopharma Announces Closing Of Second Tranche Of Series A; Expects To Complete Phase Aerial Biopharma Announces Closing Of Second Tranche Of Series A; Expects To Complete Phase Aerial Biopharma Announces Closing Of Second Tranche Of Series A; Expects To Complete Phase 2b Trial For Narcolepsy Drug In 20132b Trial For Narcolepsy Drug In 20132b Trial For Narcolepsy Drug In 20132b Trial For Narcolepsy Drug In 2013

Aerial BioPharma (Morrisville, NC) announced that the company has completed the second tranche of its USD 12 M dollar Series A financing. The company has now raised USD 9.5M, with the third and final tranche of the Series A to be completed in the fourth quarter of 2013.

The funding will allow the company to complete the Phase 2b trial for ADX-N05, the company's lead product for the treatment of excessive daytime sleepiness associated with narcolepsy. After positive,

Phase 2a results for ADX-N05 in mid-2012, Aerial began enrolling the Phase 2b trial in September. The company expects to complete the Phase 2b trial and have the results in the second half of 2013.

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The U.S. Food and Drug Administration (FDA) Office of Orphan Products Development recently granted

orphan designation for ADX-N05 for the treatment of narcolepsy. (Source: Fiercebiotech.com) Neurodyn Inc. Receives Neurodyn Inc. Receives Neurodyn Inc. Receives Neurodyn Inc. Receives USD USD USD USD 1.5 1.5 1.5 1.5 MMMM In Private FinancingIn Private FinancingIn Private FinancingIn Private Financing

Neurodyn Inc. (Charlotteotwn, Canada) announced that it has closed USD 1,500,000 in private financing.

The investors included the Regis Duffy BioScience Fund Inc., based in Charlottetown, PEI, Mertz

Holdings, a family office based in Houston, Texas, and a number of US and Canadian private investors.

Originally, Neurodyn had targeted to raise USD 1 M. An additional USD 500,000 was raised over this targeted amount. (Source: Company website)

Quotient Draws Another Quotient Draws Another Quotient Draws Another Quotient Draws Another USD USD USD USD 5M For Transfusion Dx Development5M For Transfusion Dx Development5M For Transfusion Dx Development5M For Transfusion Dx Development

Quotient Biodiagnostics (Newtown, PA) turned to existing investors to pull in another USD 5 M in financing, with an eye toward advancing work on its next-generation

transfusion diagnostics technology for blood banks. Beyond the next-gen product development

however, Quotient plans to use the new cash round to expand its Scotland operation focused on liquid reagents.

Quotient CEO and founding shareholder Paul Cowan led the new investment, along with Galen Partners.

Galen, a U.S.-based venture capital firm, led the company's USD 11.2 M financing round back in

February 2012. (Source: Fiercebiotech.com)

Brickell BiotecBrickell BiotecBrickell BiotecBrickell Biotech Announces h Announces h Announces h Announces USD USD USD USD 7M Series B Financing To Fund Development Of Novel Dermatology 7M Series B Financing To Fund Development Of Novel Dermatology 7M Series B Financing To Fund Development Of Novel Dermatology 7M Series B Financing To Fund Development Of Novel Dermatology TreatmentsTreatmentsTreatmentsTreatments

Brickell Biotech (Miami, FL), a development-stage pharmaceutical company focused on the development of innovative drug therapies for the treatment of skin diseases, announced a USD 7 M Series B financing round.

The Series B was led by a new strategic partner, AMOREPACIFIC Ventures of AMOREPACIFIC Group, the largest cosmetic and aesthetics company in Korea. Also participating in this round are existing investors, including

Palisade Concentrated Equity Partnership II, L.P., a private equity fund managed by Palisade Capital Management, L.L.C., and others. The funds from this financing round will be used to support the further development of novel compounds in Bricknell’s pipeline from clinical proof of concept through clinical testing. (Source: Company website)

Glide Pharma Completes Glide Pharma Completes Glide Pharma Completes Glide Pharma Completes GBPGBPGBPGBP 14.0 14.0 14.0 14.0 MMMM ((((USD USD USD USD 21.721.721.721.7 MMMM) Fundraising For Scale Up Of Drug And Device ) Fundraising For Scale Up Of Drug And Device ) Fundraising For Scale Up Of Drug And Device ) Fundraising For Scale Up Of Drug And Device

Manufacturing Processes And Product DevelopmentManufacturing Processes And Product DevelopmentManufacturing Processes And Product DevelopmentManufacturing Processes And Product Development

Glide Pharma (Abingdon, UK), the pharmaceutical development and device company focused on the needle-free administration of solid dose formulations, announced that it has completed a GBP 14.0 M

(USD 21.4 M) investment round.

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The fundraising was led by funds managed by Invesco Perpetual and supported by existing investors.

To date, Glide Pharma has successfully completed five funding rounds raising approximately GBP 24.9 M.

Glide Pharma will use the funds to scale up the manufacturing process for its proprietary Glide SDI®

solid dose injector system, including both the drug product and device. This includes the validation of an aseptic pilot-scale production line for clinical testing, and scale up for the manufacture of Glide

SDI® device components. The funds will also progress the development of the company’s in-house programmes, which include epinephrine and parathyroid hormone. (Source: Company website)

Kala Pharmaceuticals Secures Kala Pharmaceuticals Secures Kala Pharmaceuticals Secures Kala Pharmaceuticals Secures USD USD USD USD 11.5 11.5 11.5 11.5 MMMM In Series A Financing In Series A Financing In Series A Financing In Series A Financing Kala Pharmaceuticals, Inc. (Waltham, MA), a leading developer of innovative products that rapidly and

effectively penetrate the mucosal barrier to treat a wide range of debilitating diseases, announced that

it has secured USD 11.5 M in Series A equity financing through new and existing investors. New and lead investor, Crown Venture Fund, LLC, the venture capital arm of the Crown family of

Chicago, joined Kala’s existing investors, including Lux Capital Management, Polaris Venture Partners and Third Rock Ventures. Proceeds from the financing will be used to advance a portfolio of innovative ophthalmic programs based on Kala’s Mucosal Penetrating Product (MPP) platform through clinical

proof of concept.

The financing will enable Kala to continue to progress on two of its most advanced programs which focus on topical treatment of ocular inflammation and wet age-related macular degeneration (AMD).

Beyond ocular diseases, Kala is pursuing collaborations with partners in other disease areas where its

proprietary MPP platform can be applied to serious diseases that involve mucosal tissues such as the lung, the gastrointestinal tract, and the female reproductive system. (Source: Company website)

Dezima Pharma Dezima Pharma Dezima Pharma Dezima Pharma Raises EURRaises EURRaises EURRaises EUR14.2 M14.2 M14.2 M14.2 M ((((USD USD USD USD 18.6m) To Develop Its CETP Inhibitor Program DEZ18.6m) To Develop Its CETP Inhibitor Program DEZ18.6m) To Develop Its CETP Inhibitor Program DEZ18.6m) To Develop Its CETP Inhibitor Program DEZ----001001001001

Dezima Pharma (Naarden, The Netherlands),a biotechnology company developing innovative drugs in the field of dyslipidemia, announced that is has raised a total of EUR14.2 M (USD 18.6 M ) for the clinical development of its cholesteryl ester transfer protein (CETP) inhibitor, DEZ-001(previously TA-

8995) and to develop additional earlier-stage dyslipidemia assets.

Dezima has raised EUR 9.8 M in a Series A funding round, led by Forbion Capital Partners (NL) and BioGeneration Ventures (NL), with participation from New Science Ventures (USA). The Company has

also been awarded a EUR 4.4 M loan by Agentschap NL, an agency of the Dutch Ministry of Economic Affairs. (Source: Company website)

Spring Bank Pharmaceuticals Closes Spring Bank Pharmaceuticals Closes Spring Bank Pharmaceuticals Closes Spring Bank Pharmaceuticals Closes USD USD USD USD 10.5 10.5 10.5 10.5 MMMM Series A Financing Series A Financing Series A Financing Series A Financing To Fund To Fund To Fund To Fund Phase Phase Phase Phase 1 Clinical 1 Clinical 1 Clinical 1 Clinical

Trials In Trials In Trials In Trials In HCVHCVHCVHCV----Infected PatientsInfected PatientsInfected PatientsInfected Patients Spring Bank Pharmaceuticals, Inc. (Milford, MA), a biopharmaceutical company developing innovative

medicines for the treatment of viral infections, announced it has closed on a USD 10.5 M Series A

financing.

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Proceeds will be used to fund Phase 1 clinical development of SB 9200, a novel, orally available

treatment for Hepatitis C virus (HCV) infection and to further the preclinical pipeline. The Company plans to conduct a Phase 1 safety and antiviral efficacy study of SB 9200 in healthy, HCV-infected patients beginning in the first quarter of 2013. This financing was led by Brock Securities, LLC with

participation from Gilford Securities. (Source: Company website)

Third Rock VenturThird Rock VenturThird Rock VenturThird Rock Ventures Launches Jounce Therapeuticses Launches Jounce Therapeuticses Launches Jounce Therapeuticses Launches Jounce Therapeutics With With With With USD USD USD USD 47 47 47 47 MMMM Series A To Transform Series A To Transform Series A To Transform Series A To Transform

Cancer TreatmentCancer TreatmentCancer TreatmentCancer Treatment

Third Rock Ventures, LLC (Cambridge, MA) announced the formation of Jounce Therapeutics, Inc. with

a USD 47 M Series A financing of the company. Jounce is focused on the discovery and development of first-in-class cancer immunotherapies designed

to harness the patient’s immune system to seek out and attack cancerous cells and tumors. This

transformational approach, as compared to more traditional approaches of targeting the tumor directly, has the potential to drive durable responses to treatment, extending and improving patients’ quality of life for years. (Source: Company website)

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February 2013 Financing Rounds Summary From Biotechgate

Company Name Sector Amount

in

M USD

Type of

Round Financing Stage Ownership Country

TearScience Medical Technology 70.0 Other Debt financing Private USA

Hyperion

Therapeutics, Inc.

Biotechnology -

Therapeutics/Diagnostics

50.0 Other IPO Public USA

Jounce Therapeutics,

Inc.

Biotechnology -


47.0 Series A /

1. Round

Equity - Seed Private USA

Ablynx nv Biotechnology -


42.2 Other Post-IPO Public Belgium

Intersect ENT Medical Technology 30.0 Series D /

4. Round

Equity - Later stage Private USA

Glaukos Corporation Medical Technology 30.0 Series F /

6. Round


BAROnova, Inc. Medical Technology 27.3 Series C /

3. Round


Ivantis, Inc. Medical Technology 27.0 Series B /

2. Round

Equity - Second

stage

Private USA

Glide Pharmaceutical

Technologies Ltd.

Biotechnology -


21.7 Other Private United

Kingdom

Gynesonics Medical Technology 21.0 Series D /

4. Round


Elcelyx Therapeutics,

Inc.

Biotechnology -


20.0 Series C /

3. Round

Equity - Second

stage

Private USA

Cohera Medical, Inc. Medical Technology 17.0 Series D /

4. Round


Dezima Pharma BV Biotechnology -


13.1 Series A /

1. Round

Equity - First stage Private Netherlands

Kala Pharmaceuticals,

Inc.

Biotechnology -


11.5 Series A /

1. Round

Equity - First stage Private USA

Novian Health Inc. Medical Technology 11.0 Series A /

1. Round


Spring Bank

Pharmaceuticals, Inc.

Biotechnology -


10.5 Series A /

1. Round


Sapiens Steering Brain

Stimulation GmbH

Medical Technology 10.0 Series A /

1. Round

Equity - First stage Private Germany

Aviir, Inc. Biotechnology / R&D

Services

10.0 Series B /

2. Round

Equity - Second

stage

Private USA

Holaira, Inc. Medical Technology 10.0 Series C /

3. Round


PolyActiva Medical Technology 9.8 Series B /

2. Round

Equity - Second

stage

Private Australia

BIND Biosciences, Inc. Biotechnology -


8.7 Other Other Private USA

Catabasis

Pharmaceuticals, Inc.

Biotechnology -


8.7 Equity - First stage Private USA

8

Blaze Bioscience, Inc. Medical Technology 8.5 Series A /

1. Round


Isis Pharmaceuticals,

Inc.

Biotechnology -


7.5 Other Other Public USA

Brickell Biotech, Inc. Biotechnology -


7.0 Series B /

2. Round

Equity - Second

stage

Private USA

NanoViricides, Inc. Biotechnology -


6.0 Other Other Public USA

Dezima Pharma BV Biotechnology -


5.9 Other Debt financing Private Netherlands

CyVek Inc. Biotechnology -


5.5 Series D /

4. Round


Quotient

Biodiagnostics Inc.

Biotechnology -


5.0 Other Equity - Later stage Private USA

Exosome Diagnostics,

Inc.

Biotechnology / R&D

Services


Qvanteq AG Medical Technology 4.7 Series B /

2. Round

Equity - Start-up Private Switzerland

ExoStat Medical Medical Technology 4.5 n/a Private USA

Aerial BioPharma LLC Biotechnology -


4.0 Series A /

1. Round

Equity - Start-up Private USA

Invenra, Inc. Biotechnology -



BioAegis Therapeutics Biotechnology -


3.0 Equity - Seed Private USA

Odyssey Thera, Inc. Biotechnology / R&D

Services


Biocartis SA Biotechnology -


2.7 Other Research grants Private Switzerland

StemBioSys, LLC Biotechnology / R&D

Services

2.0 Other Private USA

Neurodyn Inc. Biotechnology -


1.5 n/a Private Canada

Nuclea

Biotechnologies Inc.

Biotechnology / R&D

Services


TriLink

BioTechnologies, Inc.

Biotechnology / R&D

Services

0.1 Other Research grants Private USA

Actinobac Biomed,

Inc.

Pharma 0.1 Equity - Later stage Private USA

9

Therapeutic BioTech Financing – Last 13 Months1

Financing Worldwide

(in USD Ms)

Biotechnology - Therapeutics/Diagnostics

Private/independent Companies

Year 2012 2012 2012 2012 2012 2012 2012 2012 2012 2012 2012 2013 2013 Grand

Month Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Total

Totals 267 611 356 369 319 610 302 385 371 653 546 273 179 5’241

US 209 494 185 320 285 452 283 200 298 576 478 243 134 4’157

Europe 27 117 109 36 28 112 4 164 52 47 68 30 43 837

Rest of World 31 0 62 13 6 46 15 21 21 30 0 0 2 247

Source Biotechgate

Copyright © 2013 Venture Valuation VV Ltd. All rights reserved. This report is provided for information purposes only. All information regarding financing rounds, deal summaries and merger and acquisition transactions was obtained from company websites or industry newsletters including Fiercebiotech, OnBioVC, and SECA. The above information can also be accessed on the Biotechgate website. All graphical information was provided via Biotechgate. While the information contained herein has been obtained from sources deemed reliable, Venture Valuation VV Ltd makes no

guarantees that it is accurate, complete, timely, or sequential. For more information about Biotech companies, including deal, licensing and financing

round details, please visit the Biotechgate website at www.biotechgate.com

Documents

Welcome to Venture Valuation’s VC Deal Summary · 2013-03-26 · Sciences, Clarus Ventures, MedImmune Ventures and Advanced Technology Ventures. (Source: ... in the round, including