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backing Enlight’s efforts to develop platform technologies that could help streamline the process of drug development. Under the terms of the agreement, Abbott will give Enlight up to $13 million for its own operations and to invest in spinoff companies.
—Bitwave Semiconductor, a Chelmsford, MA–based maker of radio-frequency integrated circuits for portable devices, raised $1.33 million out of a planned $6 million Series C equity funding round, according to SEC filing.
—Software maker LogMeIn (NASDAQ: LOGM) of Woburn, MA, announced that early investors plan to sell 2.9 million of their shares in a secondary public offering. The company itself, which went public in July, intends to sell 100,000 shares as well.
—Guilford, CT-based Ion Torrent Systems raised $23 million out of a planned $26 million round of financing, according to regulatory filings. Famed Harvard genomics researchers George Church is one of the firm’s advisors; the startup is tight-lipped about who its investors are or what it intends to do with the money, but Luke pieced together some interesting possibilities.
—Woburn, MA-based BioVex, a developer of cancer-killing viruses, raised $30 million from Morningside Venture, Ventech, MVM Life Science Partners, Sectoral Asset Management, and Ysios Capital Partners. The company will use the cash to help complete a pivotal clinical trial of its lead drug candidate for melanoma.
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