Tuesday, April 19, 2011

22 New England Companies raise $210M in one week

22 New England companies reported private investments worth $209.5 million last week. Five of the regulatory documents filed with the SEC showed nine-figure numbers for the companies, mostly venture-backed technology and life sciences firms in Massachusetts.

On Friday, April 15, Waltham security software firm Verdasys Inc. reported $28.9 million in an SEC filing. The filing followed an announcement of $15 million in new financing. According to CEO Jim Ricotta, Verdasys has raised about $45 million to date from investors including Fairhaven Capital of Cambridge, Boston investment managers Loring Wolcott & Coolidge, and private-equity and hedge fund investors Special Situations.

On Wednesday, April 13, Cambridge, Mass. cancer drug developer Merrimack Pharmaceuticals Inc. reported raising $77 million in new funding. In a press release the following day, Merrimack said the new funds will be used to advance treatments currently in or near entering clinical trials. Investors include Credit Suisse First Boston Next Fund Inc., Crocker Ventures, Jennison Associates LLC, TPG-Axon Capital and WT Investment Advisors Fund LP.

Taris Biomedical Inc. raised $18.4 million in new funds, according to a Wednesday filing. The company issued a news release announcing the funds on the same day. The funds will be used to advance Taris’ lead combination drug-device product, Lidocaine Releasing Intravesical System, in later-stage clinical trials. Investors include Third Rock Ventures, Flybridge Capital Partners and Polaris Venture Partners.

Read more: 22 New England Companies raise $210M | Boston Business Journal

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