Deals news this week spanned the cleantech, IT, and life sciences fields, and involved startup financing, acquisitions, and new company launches.
—Boston-based energy management firm EnerNOC (NASDAQ: ENOC) announced it had bought M2M Communications, a Boise, ID-based wireless technology company that works with energy utilities in the Midwest and California. EnerNOC said it paid $30 million at the close of the deal, with another $3.3 million paid “as a result of M2M having a positive capitalization amount at closing,” and that the transaction was a mix of cash and common stock.
—Stromedix, a Cambridge, MA-based developer of treatments for fighting organ failure, pinned down $2 million of a debt-based offering that could total $15.5 million, an SEC filing showed.
—H3 Biomedicine, a new oncology research and development firm, announced it was setting up shop in Cambridge, with funding from the U.S. unit of the Japanese pharmaceutical company Eisai. H3, whose scientific founders come from the Broad Institute of Harvard and MIT, said it will get up to $200 million in research funding from Eisai, access to the company’s drug development resources, and support for the clinical development of its drug programs.
—Boston-based CloudTP, a firm that aims to take enterprise-level computing to private cloud infrastructures, announced its official launch. The company has $1 million in equity-based seed funding from the Greylock Discovery Fund, John Littlechild of HealthCare Ventures, and three other undisclosed angel investors. The firm also pinned down a $500,000 line of credit from Silicon Valley Bank, and has a customer that could potentially provide $3 million in a debt-based investment, CloudTP founder and CEO Chris Greendale says.
—Alexion Pharmaceuticals (NASDAQ: ALXN) announced it had bought Cambridge-based Taligen Therapeutics for $111 million, with potentially more money to come in the future. The deal gives Cheshire, CT-based Alexion the experimental drug TT30, which Taligen had been developing as a potential rival to Alexion’s drug eculizumab (Soliris) for a rare blood disease. Eculizumab hit the market in 2007 and is Alexion’s sole product on the market to date.
—Sanofi-Aventis advanced in its pursuit to take over Cambridge-based Genzyme (NASDAQ: GENZ). On Monday Genzyme said it would open up its books to let France’s Sanofi conduct due diligence, and sources told the New York Times that the deal might close within the next week or so. The Boston Globe reported on Tuesday that Sanofi had agreed to up its $18.5 billion ($69 per share) offer, which Genzyme previously said undervalued the company’s pipeline of drugs, by an unspecified amount.