Venture Capital Firms

Based in Bellerica, Massachusetts, PlumChoice announced today that it has just raised $10 million from Silicon Valley Bank in bank financing. This latest round of funding raises PlumChoice’s total equity to over $14.7 million during the closing of the third quarter of 2009. PlumChoice is a company that provides a turnkey solution for partner technologies and allows for channel partners to remotely repair technology on a 24 hour basis all seven days of the week.

Proceeds from both funding sources will go to help the company expand in the rapidly growing technology market. The new funding will also help PlumChoice to improve its infrastructure and underwrite further development in its technologies.

According to PlumChoices CEO, President, and founder, Ted Werth; the fact that the company was able to raise such an amount in debt capital in such a difficult financial climate is a major achievement. Mr. Werth further added that the fact that PlumChoice was able to raise this debt capital can be attributed to the company’s business model and the technology platform that the company has developed, as well as the grade of customers that uses PlumChioce’s services. Furthermore, Silicon Valley Bank saw the value created in PlumChoice’s offering.

According to Kevin Rhodes, PlumChoice’s CFO; this latest round of funding completes the current fundraising efforts. He further added that PlumChoice is fully capitalized to run its operations during the next year.

According to Jack Gaziano, Managing Director of Corporate Finance at Silicon Valley Bank, PlumChoice is definitely a leader in the remote technology repair sector and the team at Silicon Valley Bank will be looking forward to helping the company in the future.

Founded in 2001, PlumChoice is a leader in remote technology repair service and tech support for some of the nation’s highest grade telecom, ISPs, retailers, and etailers. Offered under the Partners’ brand, PlumChoice is designed to generate new revenues in this growing new innovative energy sector. Some of the services the company has to offer include one-time, one-minute, and subscription services for desktop and laptop computers, MP3 players, and more. These services can be accessed anytime anywhere with 24/7 access. PlumChoice offers its services through companies within the United States and you can find out more about PlumChoice by clicking here.

Silicon Valley Bank is a leading corporate bank that provides debt capital to companies in the IT, tech, life sciences, venture capital/private equity, and fine wine industries. Click here to read more about Silicon Valley Bank.

Based in Amsterdam, one of Europe’s leaders in noninvasive cardiovascular monitoring technology, BMEYE B. V. announced today that it has just completed €6 million ($8,850,040.41) in series B funding from new investors, Early Bird Venture Capital and 360 Capital. Other investors who also participated in this round of funding include LSP or Life Science Partners and the Tech Fund.

BMEYE B. V. is one of Europe’s leaders in creating cardiovascular monitoring technologies which are both non-invasive and easy to use. The intent of this technology is not only to improve the quality of care that the cardiac patient receives while in the hospital, but also to reduce time spent in the hospital and the rising cost of medical care. The company both develops and markets the technology and allows for the technology to be used in a whole myriad of applications it the clinical environment. The primary function that BMEYE takes the most care to enhance is the non-invasiveness and user friendliness of the technology which is implemented in hemodynamic cardiovascular monitoring. BMEYE’s main product line is the Nextfin line of monitors, which provide a user friendly interface and a monitor that has highly sensitive finger sensors that can read the beat to beat rhythm of the heart from a finger. The Nextfin line of devices can measure heart beat, pulse, and blood pressure and the monitors provide the medical aids easy to use touch screens to easily read the data output of the machines.

The outlook for BMEYE is good, since the Nextfin product line has been approved by both the CE of the European Union and the FDA of the United States. This round of funding will allow the company to aggressively market the Nextfin product line and conduct future product development as well as improve its sales channel. Founded in 2005, BMEYE had closed a series A funding round in 2006, which was led by Life Science Partners.

According to BMEYE’s CEO, Rob de Ree; the team at BMEYE is very excited to have completed this round of funding during these tough financial times. Furthermore, the technology that BMEYE is developing is revolutionary and meets many unmet needs in the cardiology community. The fact that the company was able to win such a large investment truly validates its technology and product line.

As part of the agreement of this round of funding, Early Bird’s Thom Rasche will join the company’s board of directors. Mr. Rasche further stated that BMEYE truly has a product that is revolutionary and the success of the company can duly be attributed to the diligence of its top-notched management team. Furthermore, the fact that BMEYE’s technology passed tests and cleared all the requirements from both CE and the FDA, the company’s technology can have a cutting edge in the markets of both Europe and the United States.

The other lead investor is 360 Capital and Diana Saraceni, associated with 360, will continue to be a member of BMEYE’s board of directors as part of the funding agreement. She further added that the company’s technology is truly validated by the fact that it has cleared all the necessary requirements and is currently in use in many hospitals and clinics in both the United States and Europe.

Early Bird Venture Capital is one of Europe’s most successful vc firms and currently manages over €400 million ($590,002,693.94). The vc firm primarily invests in companies who are highly innovative and have serious management teams. The vc firm further invests in those companies who are in high growth industries and have the intention to expand into international markets. The geographical preference of Early Bird Venture Capital is the European Union, the United States of America, Switzerland, and the United Kingdom. Some other companies in Early Bird’s portfolio include ABAxx Technology AG, Azeti Networks GmbH, Identify Software, Alantos Pharmaceuticals AG, and others.

360 Capital is a vc firm that primarily invests in European companies and is managed with a team of seasoned venture capitalists. Currently, 360 has over €200 million ($295,001,346.01) under its management. Some other companies in 360’s portfolio include E-Blink, Electro Power Systems, Invendo Medical, VuPen, and others.

For more information about BMEYE B. V., click here.

Based in Cambridge, Massachusetts, one of the many biopharmaceutical companies that are making key discoveries in the field of genetic science, Epizyme announced today that it has closed $32 million in series B funding, which was led by Bay City Capital. Other investors who participated in this round of funding include Amgen Ventures, Astellas Venture Management, MPM Capital, and KPCB.

Founded in 2007, Epizyme is a company that is dedicated to making discoveries in genetic science and develop genetic drugs and other agents to treat a wide array of debilitating genetic diseases. Some of the diseases that Epizyme is looking to treat or cure with its new discoveries include cancer, inflammatory conditions, and metabolic and nuro-degenerative disorders. The team at Epizyme has discovered that epigenetics is one of the culprits of many diseases and goes beyond simple oncology.

According to Epizyme’s CEO, Dr. Kazumi Shiokasi, PhD; amazing progress has been made at a quick pace at Epizyme, and the company is already developing a pipeline of first class inhibitors of HMT, or histone methyltransferase enzymes, which are one of the key causes of cancerous mutations. Furthermore, the fact that the company is experiencing such tremendous support from its investors, Epizyme is ready to progress in more leads of this field of study.

One of the biggest discoveries that the team at Epizyme has made is that epigenetic enzymes are one of the key players in the formation of cancer. Furthermore, epigenetic enzymes do not need to be observed only for oncology, but for other genetic mutative disorders as well.

As part of the agreement with this round of funding, Bay City’s Dr. Carl Goldfischer, MD will join the company’s board of directors.

Dr. Goldfischer further added to what Dr. Shiosaki said and stated that Epizyme’s innovative approach to making drugs that inhibit HMTs can develop revolutionary therapies in the oncology field of the medical industry. Furthermore, the company has an amazing team of scientists who are devoted to their work, which validates the investment that Bay City Capital has made in the company.

Founded in 1997, Bay City Capital is a vc firm that boasts of a $1.5 billion in capital under its management and has since its inception invested in over 70 companies. The vc firm primarily invests in the life sciences industry. Other companies in Bay City Capital’s portfolio include Aqua Bounty Technologies, Avera Pharmaceuticals, Calypso Medical Technologies, Hyperion Therapeutics, and others.

For more information about Epizyme, click here.

Based in Durham, North Carolina, a leading innovator in surgical solutions, TransEntrix, announced today that it has secured $55 million in series B funding, which was led by Aisling Capital. Other investors who participated in this round of funding include Intersouth Partners, Quaker BioVentures, SV Life Science Partners, Synergy Life Science Partners, and Parish Capital Advisers.

Founded in 2006, TransEntrix is a subsidiary of Synecor, LLC and was founded for the specific intention of creating extremely disruptive technologies in one of the largest medical and drug device industries. TransEntrix works together with some of the United State’s most prominent physicians to develop medical devices and surgical procedures which are minimally invasive. What is paramount to TransEtrix’s success in the marketplace is the fact that the company relies extensively on hands-on clinical trials and working together with some of the most seasoned surgeons to boost up learning. Furthermore, the team at TransEntrix also believes fully in rapid prototyping of products to get them out to market on a fast pace.

Currently, TransEntrix is working on its latest project, which is a multichannel laparoscopic surgical platform that is known as the SPIDER platform. This platform is designed to give surgeons true triangulation and other advantages that are not possible with conventional laparoscopic surgery. The acronym, SPIDER actually stands for Single Port Instrument Delivery Extended Reach, which literally means that surgeons to some of the least invasive surgeries in the abdominal region.

As part of the agreement of this funding round, Aisling Capital’s managing partner, Dr. Andrew Schiff, Intersouth Partners’ general partner, Dr. Garheng Kong, and Quaker BioVentures’ Dr. Matt Rieke will join the company’s board of directors.

According to the president and CEO of TransEntrix, Dr. Todd M. Pope; the company is overjoyed to have such prestigious investors who are so confident in the company’s product. Dr. Pope further added that the technology that TransEntrix offers is powerful technology that can provide the medical community with a whole new procedure that has the potential of changing the way laparoscopic surgeries are performed.

Aisling Capital is one of the largest private equity firms in the world and currently has over $1.6 billion under its management. The private equity firm primarily invests in companies that develop technologies or global businesses that benefit the healthcare industry. The team of investors that manage Aisling Capital are up to date in the latest technologies and that is key in making Aisling Capital one of the key players in the investor community. Some other companies in Aisling’s portfolio include Adma Biologics, Armgo Pharma, Dynova Laboratories, HerbalScience, Natural Dentist, and others.

For more information about TransEntrix, click here.

Based in Reston, Virginia, an innovative leading driving distraction prevention solutions developer, ZoomSafer announced today that it has closed $1 million in seed funding from a private investor. Proceeds from the funding will go to launch new services for drivers who use the Blackberry RIM mobile devices.

One of the most dangerous hazards on America’s roads are distracted drivers. Seeing people on the phone, texting, or playing with other mobile devices, while driving to work is becoming commonplace. Furthermore, distracted drivers can annoy other drivers, because distracted drivers tend to drive slower than everyone else or vier into the neighboring lane. Other distracted drivers can also stand at an intersection even after the traffic light turns green, because she is busy talking on the phone. According to DriveFocused.com, distracted driving is becoming a hazard that is equal to, if not greater than intoxicated driving. The site further states that distracted driving is a behavioral problem that needs more than laws and education to address it. The article further states that ZoomSafer is providing innovative solutions to address this growing problem.

According to ZoomSafer’s CEO, Mike Riemer; distracted driving is a complex behavioral problem that is primarily caused by the constant development of mobile technology. Furthermore, most of municipal and state laws that punish distracted driving do not seem to have an effect on the public who is increasingly being dependent on modern wireless technology to communicate. This proves that people need more solutions to correct their driving habits besides strict laws. ZoomSafer has developed a whole array of contextual solutions that make people drive more focused. Mr. Riemer further added that the proceeds from this round of funding will allow the company to continue its quest in researching and developing solutions for safer driving.

Some of the products that ZoomSafer offers include its free Zoom Free, which is a program that is installed in your cellphone and automatically detects when you are driving and will lock the keypad on your phone, preventing you from making calls or sending text messages while you are driving. This program even goes so far as letting a driver’s friends know by either SMS, Twitter, or Facebook that the person is on the road. Other services include the ZoomMate, ZoomMail, and ZoomBiz; which are all pay services.

The CEO of Safe Kids, Mitch Stoller stated that he has been testing ZoomSafer for several weeks and he believes that this is a great solution to distracted driving. Mr. Stoller further added that the service that ZoomSafer has changed his perspective as a driver, furthermore, the company’s solutions automatically detect when he gets into the car. Mr. Stoller stated that this technology truly made him a safer driver.

ZoomSafer first launched its beta test version for Blackberry smart phones in September 1, 2009, and plans to have this program go into the second phase of beta testing, which will be more enhanced than the program in the first phase. The second phase of beta testing will launch in October 20, 2009.

For more information about ZoomSafer, click here.

Based in Pittsburgh, Pennsylvania, ALung Technologies announced today that it has raised $2.5 million in funding from its existing investors, who are not disclosed to the public. Proceeds from this funding round will go to fund ALung’s international endeavors, which include the company’s German and Indian clinical trials.

ALung Technologies is a company that is developing the new age of artificial lungs and work to advance the cures of respiratory diseases. Currently the company is developing a new platform, known as the HemoLung System that is designed to aid or even replace the ventilator for respiratory patients. Ventilators are usually used on patients who have respiratory failure and what the HemoLung System is designed to do is to eliminate all the invasive techniques that a current ventilator requires. Furthermore, when a patient is on the HemoLung System, he will not need to be sedated; allowing him to be awake, alert, and able to eat. Furthermore, the traditional ventilator can cause pneumonia and other dangerous complications that are associated with ventilators, which makes a respiratory patient spend a long time in the intensive care unit. The HemoLung System can eliminate all that too, because it also allows for artificial respiration without injury to the trachea or the larynx. Furthermore, the company has already advanced the development of the HemoLung System and plans to start clinical trials this fall.

The HemoLung System is an innovative system that does all of the above mentioned by use of a smaller catheter which is inserted in either the jugular or femoral vein, mimicking the process used in acute kidney dialysis. The difference is that the catheters deliver the blood to a mechanical lung which removes the carbon dioxide and replaces it with oxygen, much like the real lung does. The catheters allow for a much easier artificial respiration process than the cumbersome ventilator which requires a tube that is surgically inserted into the trachea.

According to ALung’s chairman and CEO, Peter M. DeComo; the potential that ALung Technologies has to improve the quality of care for severe respiratory patients is tremendous. The company’s HemoLung System will greatly reduce time in the ICU and dangerous complications associated with regular ventilators and further improving the patient’s care by allowing him to be alert and the most important thing, less time in the ICU also means greatly reduced healthcare costs.

In the United States today, there is an estimated 450,000 patients who are currently being ventilated as a result to chronic and acute respiratory failure. Furthermore, with the current cost of ICU hospitalization being estimated to range in between $5000 to $7000, the cost of respiratory patients can be overwhelming. Furthermore, the clinical trials that ALung’s patented HemoLung System prototype will determine whether the HemoLung System will replace or be a supplement to conventional ventilation.

As far as the company’s COO, Nick Kuhn, is concerned; currently the team at ALung Technologies is very enthusiastic with the current near-term clinical trials of this new system. Furthermore, the HemoLung System is currently undergoing clinical trials in both Germany and India.

For more information about ALung Technologies, click here.

Based in San Diego, California, Santek announced today that it has closed an undisclosed amount of series B funding from Verifone Holdings, RRE Ventures, and Venrock. Before this round of funding, both PRE Ventures and Venrock joined the company’s private investors in adding extra funding to their series A funding.

Founded in 1999, Semtek is a company that has been a leader in the magnetic industry since its inception. Semtek serves customers who are both in the private and public sector and who need fixed data components for their wireless devices and fixed based data processing systems. One of the key systems that Semtek has been working on since 2004 is to improve the magnetic stripe that is found on the backs of millions of credit and debit cards. In this day and age, the magnetic stripe is beginning to become a major component in electronic payment for most merchants. These magnetic stripes are located in the back of credit and debit cards, and when you pay for something in the store, your credit card is swiped through a device that reads the stripe and obtains the information about your credit card account. This magnetic stripe is becoming an instrumental component of electronic payment for merchants worldwide, because the new credit card swipers require the magnetic stripe to make the purchase.

One of the major problems with credit cards today is that there are a large number of criminals who are computer and electronically savvy and work hard to counterfeit credit cards, costing merchants and credit card companies billions of dollars. Semtek has been pioneering the credit card security industry and the company’s technology is designed to make the counterfeiting of credit cards more difficult for the increasingly tech savvy criminal. To combat the growing problem of credit card fraud and counterfeiting, Semtek has both developed and commercialized a whole suite of technologies that are effective in increasing the security and stopping theft and counterfeiting. The partnership that Semtek has acquired with Verifone is a partnership that will benefit both companies, because Verifone is one of the first companies that pioneered end to end encryption of electronic data.

The partnership with Semtek and Verifone is not that new, however. Verifone and Semtek originally secured their partnership in April of 2008, when the two companies entered into a commercial agreement, where Semtek would be involved in developing key components of a new product that Verifone is putting together, known as the VeriSafe Protect. Verifone’s new technology is based on technology that is based on the technology that was developed by Semtek. Furthermore, this technology that is under the Verifone brand has experienced breakneck success throughout the United States, that the commercial partnership in between the two companies will continue and now includes a global initiative to market VeriSafe Protect technology in other markets around the world.

This partnership between the two companies also has great benefits to Semtek, because it allows Semtek to make its technologies available to other hardware companies that can use this technology on their products or platforms.

According to the CEO of Verifone, Douglas G. Bergeron; the people at Verifone are very happy with their relationship with Semtek. The relationship has been growing over the past year, and the company looks forward to future successes with Semtek. Semtek’s CEO Patrick Hazel also added that the role in which Verifone is playing is very important role in some of the technologies that Semtek has developed. Furthermore, Verifone’s leadership is key in this historically difficult market to penetrate.

Founded in 1994, RRE Ventures is a vc firm that has been devoted to help diligent management teams build exceptional companies who are in the software, communications, and software industries. The vc firm currently has over $850 million of assets under its management. Other companies in RRE’s portfolio include AdaptiveBlue, BetaWorks, Drop.io, GoMobo, Kashless, Pontiflex, and others.

Originally established as the vc arm of the Rockefeller Family, Venrock is a vc firm that has a global presence, with offices in Menlo Park, California; New York City; Cambridge, Massachusetts; and Israel. The vc firm has invested in over 400 companies and has over $1.9 billion under its management. Some other companies in Venrock’s portfolio include IM Logic, DataPower, DoubleClick, MediaMetrix, and others.

For more information about Semtek, click here.

Based in Baltimore, Maryland, a biopharmaceurtical innovator, Arginetix announced today that it has closed $10.75 million in series A funding, which was led by both Quaker BioVentures and Medlmmune Ventures. Other investors who participated in this funding round include the Maryland Healthcare Funding Corporation, Osage University Partners, Red Abbey Partners, and the cofounder of Arginetix, Acidophil LLC.

Arginetix is a biopharmaceutical company that is devoted to the development and commercialization of revolutionary medications that can consist of small molecule inhibitors of the enzyme, arginase. Arginase is an enzyme that competes with endothelial nitric oxide synthase for using the common substrate, L-arginine. In theory, elevated argonase in the body will lower the level of L-arginine in the body, which can result in the reduction of necessary oxygen production. What is even more dangerous is that when there is an elevated level of arginase in the body, it can also trigger fibrosis and hyperplasia, which is a result of excellerated cell division.

Proceeds from this round of funding will go to help Arginetix continue its research and in developing one of the first class solutions that inhibit the arginase enzyme. The current inhibitor that Arginetix is developing is to be used in inhibiting both cardiovascular and pulmonary indicators. The scientific foundation of the company’s research is based on the proprietary intellect of Arginetix’s cofounders, Dr. David Christianson, PhD of the University of Pennsylvania and Dr. Dan Berkowitz, MD at the John Hopkins University.

According to Arginetix’s CEO and third cofounder, Gary Lessing; this round of funding is a great endorsement for the company and the important research and developments it is doing in working with the arginase enzyme. Mr. Lessing further added that Arginetix is fortunate to be working with a group of investors who are both experienced in the field of molecular biology and talented in both their business strategy and industry knowledge. The fact that both of the company’s new investors have broad experience in developing new drugs and their proven track record of past successes will be a very valuable asset to Arginetix.

According to Dr. Geeta Vemuri, Managing Director of Medlmmune Ventures; Arginetix is currently investigating clinical studies for the treatment of both cardiovascular and pulmonary diseases with its revolutionary molecular solutions. Furthermore, the fact that Arginetix has some innovative solutions to treat cardiovascular and pulmonary diseases. This further validates the investment that Medlmmune Ventures has placed in Arginetix.

Devoted to the life science industry in the mid-Atlantic states, Quaker BioVentures is a vc firm that has more than $700 million under its management. The vc firm has led investments in all sectors of the life science industry. Quaker BioVentures invests in all stages of a company’s life. Some other companies in Quaker BioVentures portfolio include Amicus Therapeutics, Biolex, BioRexis, Celator Pharmaceuticals, Cellatope, Cempra, DiscoveryLabs, and others.

Medlmmune Ventures is the vc arm of AstraZaneca Group, which was established to enhance the research, discovery, and commercialization of biotechnology products and solutions. Furthermore, the AstraZaneca Group also provides the funding for such endeavors. Medlmmune Ventures primarily invest in early to late stage companies in the biotech industry. The vc fund invests in both privately owned and publicly traded companies.

For more information about Arginetix, click here.

Based in Lebanon, New Hampshire, a leader in immune system and human antibody research, Adimab announced today that it has closed an undisclosed amount in series D funding with Google Ventures leading the funding round. Other investors who are participating in this round of funding include the company’s existing investors, Polaris Ventures, SV Life Science, OrbiMed Advisors, and Borealis Ventures.

Adimab is a leader in human antibody research tools. Its platform, which is an integrated antibody discovery and optimization platform that allows for scientists to be able to research everything from antigens to purified human IgGs. Adimab provides scientists and medical researchers the basic advantages by bringing to attention different panels of therapeutically relevant antibodies that can be used in treating a wide array of different diseases. According to Adimab’s corporate website, up to now, there are several different methods to approach and discover human antibodies. The thing that all three of these approaches have in common is that they all need a specific host to work. Some of these hosts include mice, E. Coli, CHO, and NSO. Furthermore, all these approaches require several different reformatting steps that can cause the quality and the accuracy of the discoveries to deteriorate. Adimab’s website goes on further to say that the company has taken extra steps to improve the discovery of human antibodies. The company site goes on to state that Adimab’s approach works by accomplishing a full integration of all the aspects of antibody discovery, ranging from library design and manufacturing. Furthermore, Adimab also stresses the importance of developing screening and presentation technologies which can search all relevant aspects of antibody quality and function. The corporate site also explains more of the unique platform that Adimab offers.

According to Bill Maris, Managing Partner of Google Ventures, vanguard technologies in the life sciences industry can be computationally intensive. Furthermore, Google Ventures will continue to back Adimab and its revolutionary technology in human antibody discovery technology. Google will also back Adimab’s bid to become the world leader in human antibody discovery and research. Mr. Maris further added that he believes that the technology that Adimab’s technology is definitely revolutionary and is happy that Google Ventures will join the company’s existing investors in backing this company.

According to Adimab’s CEO, Errik Anderson; the company has been looking at several investment propositions and finally came to the decision that Google Ventures was the best investor to complete this round of funding. The people at Google Ventures understood the value that Adimab has placed in its human antibody discovery platform. Furthermore, this prolific discovery platform can have an even greater effect when incorporated with computational tools.

Google Ventures is the vc arm of Google, one of the world’s largest search engine companies. The sole mission of Google Ventures is to seek and find new companies and help them grow into large global corporations. Though Google itself is an internet company, its vc arm, Google Ventures invests in a broad range of industries which include consumer internet, software, hardware, life sciences, clean tech, bio tech, and healthcare. Google believes in helping companies grow from the entrepreneur’s garage or basement to a major corporation with a multinational presence. Google Ventures invests in all stages of a company’s life from seed all the way to mezzanine funding.

For more information about Adimab, click here.