Vivalog LLC
McKesson Corporation announced
the acquisition of Vivalog LLC in early 2008. Vivalog, a participant in the Larta-managed
2006-2007 NIH Commercialization Assistance Program, is a leading provider of Web-based
solutions, including the MyPACS.net medical imaging reference site that enables
radiologists, cardiologists, and other imaging specialists to efficiently organize
and share image and reference case information needed during daily practice. This
portfolio extends McKesson’s current hospital imaging and information management
systems with reference case management and clinical conferencing capabilities that
result in rich, multimedia knowledge repositories to assist in diagnostics as well
as research and training. McKesson is a healthcare services and information technology
Protein Discovery, Inc.
Protein Discovery, which
participated in the 2007-2008 NIH Commercialization Assistance Program, announced
earlier in 2008 that the company has closed a $10 million Series C round of equity
financing. The company is a developer and marketer of products that simplify biological
sample preparation for mass spectrometry applications. The investment was led by
Santé Ventures and was joined by previous investors, including Memphis Biomed Ventures,
the Southern Appalachian Fund, and the Nashville Capital Network. Protein Discovery
will use the funds to boost market entry activities of its flagship product, the
Passport™ 1200 Sample Prep System
Biopsy Sciences
In another win for Larta
Institute, alum Biopsy Sciences, a Tucson, Arizona-based medical device company,
sold the intellectual property and commercialization rights to its Bio-SEAL™ technology
to Angiotech Pharmaceuticals, Inc., a global specialty pharmaceutical and medical
device company. Biopsy Sciences was a participant in the 2006 “NIH-Commercialization
Assistance Program (NIH-CAP), a program funded by the National Institutes of Health
(NIH) and developed and managed by Larta Institute to provide expert commercialization
assistance and training to Phase II SBIR (Small Business Innovation Research) NIH-
funded companies.
Stonybrook Purification
Stonybrook Purification,
a spinout of Stony Brook University, announced the close of the first tranche of
a $4.1 million Series A investment led by Battery Ventures. T2 Venture Capital (T2VC),
the founding investor and early incubator of the company, also participated in this
round, along with new investors Modern Water and TianDi Growth Capital. The company
will bring to market a novel concept for increasing the performance of high flux
membranes for a variety of purification, filtration, and desalination applications.
The technology has the potential to significantly increase the performance of and
reduce the costs of processing water on a large scale.
Veatros
DivX, Inc. (NASDAQ: DIVX)
acquired the assets of Veatros, L.L.C., a Kansas limited liability company. Veatros's
technology was designed to conduct real-time digital video processing and will be
used by DivX primarily for the purposes of producing enhanced video search and discovery
services. Veatros was spun out of the Information and Telecommunication Technology
Center at the University of Kansas. T2 Venture Capital, the venture affiliate of
Larta Institute backed Veatros in its recent growth.
Xradia, Inc.
Xradia participated in Larta
Institute's Entrepreneurship Assistance program and was selected to present
at the Venture Forum within the NIST ATP (Advanced Technology Program) Showcase.
Xradia designs and manufactures a suite of ultra high-resolution 3D x-ray microscopes
and fluorescence imaging systems for non-destructive imaging of embedded internal
structures. Important applications include 3D imaging of advanced semiconductor
IC's and packages as well as biological specimens ranging from single cells
to small animals. As a result of the Forum, Larta facilitated key introductions
to investors and corporate partners at the Forum, including Harris & Harris
Group, Inc. In late 2006 Xradia announced the closing of a $7.0 million equity in
a series D financing round led by Harris & Harris Group, Inc.
Targacept, Inc.
Targacept, a biopharmaceutical
company, issued a statement in February 2006, that it had received an initial $10
million payment from AstraZeneca as part of an exclusive global license and research
collaboration agreement made in December, 2005. Then in March, it announced that
it will look to sell 5 million shares at $11 to $13 each in an initial public offering
filed with the U.S. Securities and Exchange Commission on January 17, 2006. Targacept
participated in the ATP Entrepreneur Education Workshop managed by Larta Institute. The ATP workshop and mentoring program
provided participants with a comprehensive roadmap to help move their technologies
into the competitive marketplace.
Vivo Biosciences, Inc.
Vivo Biosciences was introduced
to several investors, including Toucan Capital Corporation, at Larta Institute's
Venture Forum, where the company presented its NIH-SBIR supported biotechnology
in conjunction with its participation in Larta's 2004-05 National Institutes
of Health Commercialization Assistance Program (NIH-CAP). Vivo Biosciences and Toucan
Capital commenced investment discussions and reached agreement for Toucan Capital
to provide $2 million in funding for VBI's drug-testing technology, which may
cut years off the current human drug discovery process.
Language Weaver
Language Weaver presented
at Larta Institute's Venture Forum, where it was chosen Most Promising Start-Up
Company of the Year. Language Weaver
received $4 million in a financing round led by Palisades Ventures, which was introduced
to the company at the Venture Forum. Red Herring Magazine chose Language Weaver
from among 900 companies as one of the nation's Top 100 Innovators. Language
Weaver develops unique approaches to automatic language translation.
eTeam
eTeam was a recipient of
a CalTIP (California Technology Investment Partnership) award through Larta Institute,
and presented at Larta Institute's Venture Forum. eTeam raised $3 million in
funding the year following its presentation at the Venture Forum. Subsequently,
eTeam was acquired by NC4, a leader in situational readiness. eTeam develops applications
to help government agencies and private companies better communicate and collaborate
with each other. eTeam's technology was credited as a vital and integral part
of New York City's emergency response system used in the aftermath of the World
Trade Center attacks on September 11, 2001.