Tagged: drug

Seres Health reported the completion of a $48 million financing round


seresHealth$48 million was raised by Seres Health following the successful placement and issuance of its unregistered equity securities. A total of twenty investors participated to the non-brokered placement which started a little over a week ago. Until this disclosure Seres Health had raised an estimated $10.63 million in unregistered securities via one previous financing round.

Seres Health develops Ecobiotic therapeutic products, novel drugs to treat important diseases by targeting the underlying biology of the human microbiome. The company is backed by VentureLabs, Flagship Ventures’ innovation foundry.

The company, headquartered in Cambridge MA, is led by Roger J Pomerantz (President and CEO). Seres Health elected to keep its revenues undisclosed.
The executive team includes David Cook, Eric D Shaff and John Aunins.
The board of directors includes David Berry, Lorence Kim, Noubar Afeyan, Peter Barton Hutt, Richard Kender and Werner Cautreels.

The company has raised an estimated total of $58.63 million via private unregistered security offerings.

Offering recap
Status: Completed
Company: Seres Health
Industry: Pharmaceuticals
Amount offered: $48 million
Amount placed: $48 million
SEC filing: Source
First sale: 11-24-2014
Data as of: 12-02-2014


For more information visit www.XDATA.co

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Tosk closed its equity security offering after increasing its fundraising cap


Change: offered +7% / raised +230% / placed 100%

XDATA – August 22nd 2014

toskTosk closed its unregistered equity offering after increasing the placement’s size by 7% to $5.45 million. The offer closed after the company raised $3.8 million from sixty-two additional investors within a little over a year. At closing, a total of seventy-four investors had subscribed to Tosk‘s offering. The company closed two unregistered private placements which raised an estimated $7 million.

Tosk develops drugs for debilitating and life-threatening diseases such as cancer, arthritis, and psoriasis. The company’s current drug discovery and development efforts focus on applying the optimizing market drug (OMD) technology to discover cancer chemotherapeutic side-effect-reducing agents.

The company, headquartered in Mountain View CA, is led by Brian Frenzel (President and CEO). Revenues on or below $1 million were reported by Tosk.
The board of directors includes Charles Garvin and Harold Crow.

The company has raised an estimated total of $12.45 million via private unregistered security offerings.

Offering recap
Status: Completed
Company: Tosk
Industry: Pharmaceuticals
Amount offered: $5.45 million
Amount placed: $5.45 million
First sale: 12-16-2011
Data as of: 08-22-2014

For more information visit www.XDATA.co

$1.06 million unregistered debt financing and first close reported by ABT Molecular Imaging


ABT Molecular ImagingABT Molecular Imaging disclosed being in the market to raise $1.06 million via debt issuance. Apparently 73% or $775,000 has already been subscribed by three investors. The non-brokered placement started a few days ago. Based on the offering’s structure, the company has until May 2015 to raise an extra $288,000. A total of eight unregistered securities offerings closed by the company raised an estimated $22.05 million.

The company designed a device to manufacture doses of molecular imaging drugs for positron emission tomography (PET scanning) at the point of use. PET scanners map the body by means of injectable radioactive drugs that allow PET machines to highlight areas of abnormal metabolic function indicative of disease (such as cancer, Alzheimer’s disease, cardiac abnormalities, etc.).  ABT’s Biomarker Generator enables rapid, safe and local production of PET imaging agents in a way that is more convenient, versatile and significantly less expensive than current methods available. It is currently deployed to several research and clinical sites with installations in the U.S., Europe and South America.

The company is headquartered in Louisville TN. Abt Molecular Imaging disclosed having revenues on or below $1 million.

The executive team includes Michael Templin and Peter Kingma.
The board of directors includes Dennis Dougherty and Rik Vandevenne.

The company has raised an estimated total of $22.82 million via private unregistered security offerings.

Offering recap
Status: First close
Company: ABT Molecular Imaging
Industry: Biotechnology
Amount offered: $1.06 million
Amount placed: $775,000
First sale: 05-09-2014
Data as of: 05-12-2014

Embolx files details on the completion of its financing round


embolxOne financial backer invested $250,000 in return for unregistered equity securities issued by Embolx. The transaction completed on February 21st via a non-brokered private placement. No offering was previously initiated by the company under a registration exemption with the SEC.

The company developed and commercializes a highly targeted delivery systems for tumor embolization (nonsurgical, minimally invasive procedure to block blood vessels). It enables oncologists and radiologists to deliver precise doses of drug directly into the tumor vasculature. The technique shows superior clinical outcomes and low toxicity for certain cancers according to the company.

Michael P Allen (President and CEO) leads the Los Altos CA based company which was registered in 2013. No revenues were reported by the company.
The executive team includes Robert J De Neve.
The board of directors includes Paul F Rogan.

Offering recap
Status: Completed
Company: Embolx
Industry: Other
Amount offered: $250,000
Amount placed: $250,000
First sale: 02-21-2014
Data as of: 03-07-2014

Lumicell closed its equity security offering after increasing its fundraising cap


Change: offered +54% / raised +54% / placed 100%

LumicellLumicell closed its unregistered equity offering after increasing the placement’s size by 54% to $1.56 million. The offer closed after the company raised $550,000 from two additional investors in one month’s time. At the close, a total of seven investors had subscribed to Lumicell’s offering. Up to now Lumicell had raised an estimated $3.91 million in unregistered securities via one financing round. The company has received a Phase II Small Business Innovation Research (SBIR) grant from the National Cancer Institute (NCI).

The company is developing an intraoperative imaging system that gives surgeons real-time visual feedback of residual cancer in the tumor bed while performing the initial surgery. The ability to see and remove all cancer cells during the initial surgery has the potential to significantly improve surgical outcomes and reduce healthcare costs by eliminating the need for repeat surgeries according to the company. Lumicell’s system includes a cancer-targeted injectable imaging agent and a hand-held imaging device with single-cell detection.  Lumicell is initially investigating its imaging system in patients undergoing surgery for breast cancer and sarcomas.

The company, headquartered in Wellesley MA, is led by W. David Lee (President & CEO). Lumicell kept its revenues undisclosed.
The executive team includes W. David Lee and Andrey Zarur. The board of directors includes David Furneaux Ralph Weissleder and Moungi Bawendi.

The company has raised an estimated total of $5.47 million via private unregistered security offerings.

Offering recap
Status: Completed
Company: Lumicell
Industry: Biotechnology
Amount offered: $1.56 million
Amount placed: $1.56 million

$690,000 unregistered debt financing and first close reported by ABT Molecular Imaging


ABT Molecular ImagingABT Molecular Imaging disclosed details on its $690,000 debt issuance. Apparently 73% or $500,000 have already been subscribed by three investors. The non-brokered placement started a week ago. According to the offering’s structure the company may raise an additional $190,000 until February 2015. The company closed six previous unregistered private placements which raised an estimated $20.27 million. Institutional investors include: River Cities Capital Funds (via Fund IV), Mountain Group Capital (via Limestone Fund), Council & Enhanced Tennessee Fund (co-managed by Council Capital and Enhanced Capital Partners), and Intersouth Partners.

The company’s technology produces doses of molecular imaging drugs for positron emission tomography (PET scanning) at the point of use. PET scanners map the body by means of injectable radioactive drugs that allow PET machines to highlight areas of abnormal metabolic function indicative of disease (such as cancer, Alzheimer’s disease, cardiac abnormalities, etc.).  ABT’s Biomarker Generator enables rapid, safe and local production of PET imaging agents in a way that is more convenient, versatile and significantly less expensive than current methods available. It is currently deployed to several research and clinical sites with installations in the U.S., Europe and South America.

The company is headquartered in Louisville TN. ABT Molecular Imaging disclosed having revenues on or below $1 million. The executive team includes Michael Templin and Peter Kingma. The board of directors includes Dennis Dougherty, Rik Vandevenne and Ronald Nutt.

The company has raised an estimated total of $20.77 million via private unregistered security offerings. Random Research had reported in September 2013 a $400,000 financing by radioisotope manufacturer NorthwestMedical Isotopes.

Offering recap
Status: First close
Company: ABT Molecular Imaging
Industry: Biotechnology
Amount offered: $690,000
Amount placed: $500,000
First sale: 2014-02-18

Summit Biosciences, Inc. files $750,000 equity and rights offering


Summit Biosciences, Inc., headquartered in Lexington, KY, is gearing toward raising $750,000 in equity and rights from at most 7 outside investors. No placement agent has been retained for the offering. The company develops, manufactures and commercializes generic and innovative nasal spray drug products. It had revenues between $1 and $5 million over the last fiscal year. In the first quarter of 2008, Summit benefited from $250,000 forgivable loan and $500,000 in tax incentives from Kentucky Economic Development Finance Authority. The incentives came also with a $5 million investment from the state. Yearling Partners is an investor in the company as well. The company is lead by Edwin A. Cohen (CEO and COB) who founded Barr Laboratories. Other executives include Gregory Plucinski (COO) and Sonia Egbert (CFO). Directors include: Richard Cohen, William Lamicka, Charles Moyer and Robert Saunders.