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Finance Friday: 18 March 2011

$100 bills in a circle (


Here are recent angel and venture finance transactions for science- and engineering-based companies, as reported by Xconomy and Venture Capital Reporter.

Biomedical/Life Sciences

Advanced Animal Diagnostics in Durham, North Carolina raised $11 million in equity funding with Intersouth Partners and Novartis Venture Funds, the venture capital arm of Novartis Pharmaceuticals, and others.

Chronix Biomedical in San Jose, California, a developer of tests that can detect cancer and neurologic diseases from DNA circulating in the blood, brought in $2.8 million in a sale of equity and options. The round’s 11 investors were not identified.

OmniGuide in Cambridge, Massachusetts, a provider of laser-based medical devices, raised $3.5 million in an equity round of funding from nine investors.

Omthera Pharmaceuticals in Bedminster, New Jersey, which develops specialty pharmaceuticals for the treatment of dyslipidemia and other diseases related to lipids in the body, raised $33.9 million in equity funding from New Enterprise Associates, Sofinnova Partners, and others.

Energy and Environment

CoolPlanetBioFuels in Camarillo, California — developing a technology that extracts hydrocarbons from stripped corncobs, corn stalks, wood chips, and other biomass — said today that it has collected a series B equity financing round from Google Ventures, the investing wing of Google. The amount of the investment was not specified.

Solopower in San Jose, California, a developer of flexible photovoltaic solar technology, collected an additional $13.5 million in an apparent extension of a January series E equity financing round.

SustainX, an energy-storage startup out of Dartmouth College in West Lebanon, New Hampshire, received $14.4 million in equity financing from GE Energy Financial Services, Cadent Energy Partners, Polaris Venture Partners, and Rockport Capital.

Zero Motorcycles, a start up in Santa Cruz, California that makes street and sport motorcycles powered by lithium-ion batteries, picked up $17 million in new funding from a group led by private equity firm Invus.

Engineering and Electronics

Jawbone, in San Francisco, California, a maker of noise-canceling Bluetooth mobile headsets and other audio technology, collected $49 million in equity investments from venture firm Andreessen Horowitz.

Physical Sciences

Living Proof in Cambridge, Massachusetts, a maker of beauty products developed with advances in material science, raised $16 million in a series B equity funding round from Piper Jaffray Merchant Banking and Polaris Venture Partners.

Read more. Finance Friday: 11 March 2011

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