Financing Deals: 22 July 2010

AxioMed Spine Corporation, a spinal orthopedics company developing products to restore spinal function in patients with degenerative spine disease, announced today that it has raised $14.5 million in two tranches from both current and new investors, not identified by the company. The funding will provide AxioMed with the ability to complete a study in the US of its lumbar disc, get approval for its cervical disc product, and start or expand sales of both products in Europe.

International Stem Cell Corporation, an Oceanside, California biotechnology company focused on therapeutic and research products, announced today an agreement with ARG Vermogensverwaltung AG (ARG), a German investment fund, to create a new European subsidiary, called ISCO Europe, to be funded with up to $10 million of capital derived from ARG and other independent sources in Europe. The new subsidiary is expected to be funded by a private equity investment by ARG and that ARG will then assist in forming an investment group to invest up to $10 million concurrently with the listing of ISCO Europe on the Deutsche Bourse.

Euthymics Bioscience Inc., in Cambridge, Massachusetts, a clinical-stage company developing antidepressants, today announced the completion of additional Series A (first-round after seed capital) financing. This round, led by Novartis Venture Funds and Venture Investors, provides a total investment commitment of $24 million in milestone-conditioned tranches. Hambrecht & Quist Capital Management, LLC, GBS Venture Partners, and the State of Wisconsin Investment Board also participated in the financing. The first Series A proceeds were used to complete the acquisition of DOV Pharmaceutical, Inc. and allow for the continued development of DOV’s unique antidepressant, EB-1010.