After weeks of increasingly confident media speculation, Google has confirmed it is setting up an outpost of its venture capital wing in Europe. And with a brief to follow a similar strategy to the U.S. team that invested in Flatiron Health, DNAnexus and other biotech IT startups, the $100 million fund is a new source of capital for European life science innovators.
The VC industry turned in bleak numbers for biotech deal-making in the first quarter of 2013, with one key measure of early-stage activity in the life science sector falling to its lowest level in almost 18 years.
The buzz on the tech beat was that information giant Elsevier was nearing a buyout of the startup Mendeley, which has an open platform for scientists to share information. Sources place the price tag for Mendeley at around $100 million.
The do-more-with-less mentality is alive and well in biotech. Atlas Venture Development Corp., a unit of the VC firm Atlas Venture, has shown again that a skeleton crew of full-time staff can run a drug development program on a tight budget with the help of outside contracts.
Humans harbor more than 10,000 microbes that number in the trillions, and sequencing the genomes of the species promises to unlock a wealth of data for biotech entrepreneurs to use in search of new drugs and diagnostics. Now companies have a baseline case for what the sum of microbes in healthy humans should look like.
Fierce 15 season has arrived, meaning that our online nomination form is live and the process of selecting companies for the annual list has begun.
Venture backers are giving Ceptaris Therapeutics another chance. Fresh from an FDA rejection of the small developer's cancer drug, Ceptaris has found $10 million in a Series D-1 round.
The seventh-round financing is expected to fuel development of San Diego-based Sangart's treatments that deliver essential gases to embattled tissues.
Pain med developer Egalet has found a new investor for a second-round financing and hired former Eli Lilly employee Bob Radie as president and CEO.
After reporting last month that first-quarter venture investing in U.S. biotech dropped by 43%, PWC has drilled deeper into the numbers and noted that young life sciences outfits might have fared even worse than more mature startups.