Venture Capital News
ZIOPHARM Raises $37 Million in Private Placement
Representatives of ZIOPHARM Oncology, Inc. announced the company has completed a private placement of approximately 8.0 million shares of its common stock with gross proceeds of approximately $37.0 million. Investors will also receive warrants to purchase an additional 2.4 million shares, approximately, of common stock. New investors include ProQuest Investments, LB I Group Inc. (an affiliate of Lehman Brothers), Emerging Technology Partners, Knott Partners, Panacea Asset Management LLC, and Cycad Group from the U.S., Henderson Global Investors from the U.K., and two funds (Medical Biohealth Trends, VCH Expert Biotech) advised by Medical Strategy from Germany. Existing investors in the Company’s previous rounds of financing also participated in the private placement. Paramount BioCapital, Inc. and Griffin Securities, Inc. served as co-placement agents. Granite Associates, Inc. served as a selected dealer of each placement agent.
Proceeds from the financing will be used primarily for the clinical development of the Company’s two lead products, ZIO-101 and ZIO-201, currently in phase I/II trials for advanced myeloma and advanced sarcoma, respectively. The Company expects to begin additional phase II trials for both products this year, leading to pivotal registration trials in 2007.
ZIOPHARM has agreed to register for resale under the Securities Act of 1933, as amended, the shares of common stock sold in the private placement and the shares issuable upon exercise of the warrants issued in the private placement. The securities have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration under such act and applicable state securities laws or an applicable exemption from those registration requirements.
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LeisureLink Closes Series B Financing Round
Pasadena , CA based LeisureLink, Inc., the electronic marketplace that connects travelers with vacation rental suppliers worldwide, has announced the closing of its US$5 million dollar "Series B" round of venture capital from Mission Ventures and Clearstone Venture Partners.
Since 2002 LeisureLink has expanded the revenue opportunities for vacation rental management companies, timeshare companies as well as offline and online travel agencies. The LeisureLink electronic marketplace allows suppliers to increase their revenue per available room and agencies to earn attractive commissions. This massively scaleable system currently features next generation type-A connectivity with major GDS systems and merchant distribution with major online travel agencies.
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Trident Capital Leads $3.75 Million Series A Round for Sphere
Representatives of Trident Capital, a national venture capital firm focusing on information technology, announced that it led the Series A round of investment for the new blog search company, Sphere. Sphere raised a total of $3.75 million in this round and plans to use the funds to scale its technology and business to meet the strong early demand for its next-generation blog search engine.
Venetia Kontogouris, managing director at Trident, has joined the Sphere board of directors
Sphere offers an advanced, easy-to-use blog search engine that can help anyone discover high-quality and timely blog posts on a defined topic. Sphere uses a combination of methodologies, including an emphasis on the content of each post and the relationship between links, to perform a robust ranking of blogs. Search results, which can be ordered by time or relevance, contain minimal irrelevant posts or "spam."
In addition to Conrad, Sphere's founders include Steve Nieker, Martin Remy and Toni Schneider. The founders have been joined by Victoria Bianchini, previously at About.com, to form the management team. Sphere also benefits from a veteran advisory team comprised of Scott Kurnit, Mary Hodder, Matt Mullenweg and co-founder Schneider.
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ComVentures Adds Rodi Guidero as Chief Counsel
ComVentures, a venture capital firm focused on early-stage companies — from Internet and mobile applications down through the underlying infrastructure — announced Tuesday that Rodi Guidero has joined the firm as Chief Counsel. Guidero will be responsible for managing the structure and execution of ComVentures' investments and investment liquidity as well as overseeing the firm's general legal affairs.
Guidero joins ComVentures from VantagePoint Venture Partners, where he served as the firm's General Counsel and was responsible for the execution of investments and management of legal affairs as well as serving on several private company boards. Prior to VantagePoint Venture Partners, Guidero served as Associate General Counsel for E*TRADE, where he focused on strategic investments and acquisitions. Guidero began his career as a business and technology attorney at Brobeck, Phleger & Harrison, where he represented numerous private and public companies, venture capital investors and investment banks in a wide variety of public and private fundraising and sale transactions. Guidero holds a J.D. from Stanford Law School and a B.A. from the University of Washington.
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Event: Dean Kamen Named Keynote Speaker at California Coast Venture Forum
Representatives of The California Coast Venture Forum (CCVF) announced Thursday that Dean Kamen, noted inventor and founder of DEKA Research & Development Corporation, will be featured as the keynote speaker at their annual Venture Forum.
Dean Kamen holds more than 440 U.S. and foreign patents for innovative devices that have expanded the frontiers of health care worldwide, which include the first wearable insulin pump for diabetics and the HomeChoice(TM) portable peritoneal dialysis machine. Among Mr. Kamen's renowned accomplishments are founding FIRST (For Inspiration and Recognition of Science and Technology), an organization dedicated to motivating future generations to understand, use, and enjoy science and technology. Kamen is also the inventor of innovative consumer products, such as the Segway(R) Human Transporter and the IBOT Mobility System Wheelchair. Mr. Nida said, "I am personally a beneficiary of Mr. Kamen's genius as an owner and user of the IBOT, and it has made a huge difference in my life. I am very pleased that we can bring Dean to the CCVF and to local entrepreneurs, investors, and business men and women."
The California Coast Venture Forum selects companies with sound business plans and assists them in sources of funding. In its 10th year, the CCVF has assisted emerging growth and laterstage companies raise over $110 million in capital investments from private equity, venture capital, and angel investors. This year, 25 companies will be selected for the Venture Forum to communicate their business plans to venture capitalists, institutional investors and angel investors.
The event will be held Thursday, June 1, 2006 in Santa Barbara, California at the Four Season's Biltmore Hotel. For further details regarding this event and instructions on registration and submitting business plans, or to sponsor or exhibit at the event, please visit CCVF Venture Forum website.
