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  • Health Care Solutions companies Infinity Pharmaceutics, NanoVobronix and Selventa raise funds.

    November 30th, 2011 No comments

    It has now been quite a long time since the IT and cloud systems have started to be quite successful on the venture capital market. It is true that, for a while, they have been more important than any other activity field, even the health care one. But the new trend on the market now is that of combining the two activity fields and raising money for the health care department by the means of IT projects.

    One of the successful companies which have recently managed to get a hold of a $50 million extension fund is Infinity Pharmaceuticals, the Cambridge, MA – based company which has recently extended its partnership with Mundipharma. One of the most important projects of the company is that of developing a drug which includes IPI-145, a molecule designed to stop two specific forms of the PI3 kinase pathway. The purpose of this drug would be that of curing a variety of blood cancers and inflammatory conditions. Related to this new round of fundinf, Antony Mattessich, the regional director of Europe at Munipharma, stated the following: “Since our alliance began in 2008, Infinity has advanced and expanded its portfolio of innovative product candidates.”

    NanoVobronix Inc. is another company which has recently raised $300.000 from Tegal Corporation for developing a low-intensity surface acoustic wave technology which is intended to be used in the treatment of chronic, non-healing wounds. The company has already obtained US Food and Drug Administration and EU CE Mark clearance for its product named PainShield MD, which is used in the treatment of tendonitis, trigeminal neuralgia and muscle pain. The UroShield product, which is designed to treat catheter-associated infection and injury by the means of an ultrasound device, has already been developed and had a CE Mark certification. Thomas Mika, the President and CEO at Tegal, stated the following: “Our investment in NanoVibronix expands the Tegal portfolio to new markets and new commercial horizons. NanoVibronix is a technology leader in the application of surface acoustic waves in the treatment of wounds and the prevention of infection in indwelling catheters.”

    Selventa Inc., the Cambridge bioinformatics company, has recently raised $4.96 million from Flagship Ventures and Pappas Ventures, both of which have already invested in the company in the previous round of funding, and other seven investors who have decided to remain anonymous. Since March, the company added and expanded a strategic partnership with Pfizer Inc., which is meant to help the companies spread information concerning drug safety. Since December 2010, the company has David de Graaf as president and CEO. It has been at that moment that the company also changed its name from Genstruct to Selventa.

    Based on these recent funding deals, we can understand that the health care market is still able to raise funds even in these difficult economic times as long as the companies applying for capital have new and interesting projects which guarantee a high return rate in a rather short period of time.

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