The last official week of summer brought a slew of Northwest deals, to go along with today’s heat wave. Two of the year’s biggest financings happened in tech and life sciences, along with a big acquisition in healthcare, while a host of smaller deals went down in software, digital media, and advertising—and one company inched closer to an IPO.
—Seattle-based Integrative Diagnostics, Leroy Hood’s early cancer detection company, has raised $7.5 million out of a $30 million equity round, as Luke reported. The investors were not disclosed, but we’ll have more on this story soon.
—Seattle-based Free & Clear, which offers phone-based coaching for company employees battling tobacco addiction, obesity, and stress, was acquired by Inverness Medical Innovations (NYSE: IMA) of Waltham, MA, for $100 million in cash plus up to $30 million in follow-on payments, as Wade reported. Free & Clear was backed by Polaris Venture Partners, Three Arch Partners, and Kaiser Permanente Ventures. Inverness offers medical diagnostic tests and other disease management services for consumers.
—Portland, OR-based Ensequence raised $20 million, led by Clay Mathile, the CEO of CYMI Technologies (and former owner of Iams, the pet food company sold to Proctor & Gamble for $2.3 billion in 1999). It’s one of the Northwest’s largest tech financings of the year. Ensequence was founded in 2000 and is a leader in the interactive TV business, which lets viewers do things like call up additional information on the screen. There is some question as to whether the firm is moving its headquarters to New York, where its new CEO, Peter Low, is based.
—In the biggest life sciences venture financing of the year, Seattle-based Calypso Medical raised $50 million led by Skyline Ventures and Frazier Healthcare Ventures, with Bay City Capital and InterWest Partners also participating, as Luke reported. The funds will be used to expand Calypso’s worldwide rollout of its radiation pinpointing product, which helps radiation oncologists and technicians better treat prostate cancer. Luke also reported on the story behind the deal here.
—Seattle-based Getty Images, the creator and distributor of photos and other digital media, has made a $4 million strategic investment in Daylife, a New York media and content services company, according to the Wall Street Journal’s All Things Digital blog. The two companies have also formed a partnership to create products that let customers more easily incorporate photos and videos on their websites. Financial terms weren’t given.
—Companies in Washington state attracted nearly $1 billion in venture funding in 2008, and these companies grew their staff and revenue faster than any other state, including California, as Bob reported. The stats were in a report from the National Venture Capital Association, which also included a very informative map of venture investments around the U.S. since 1970. That map shows how far and wide the venture industry has spread, comparing Silicon Valley with regions like the Northwest, Southern California, and New England.
—Seattle-based Omeros moved closer to an initial public offering, stating that it hopes to go public at $10 to $12 per share, as Luke reported. Omeros, a biotech drug company, wants to find investors willing to buy 6.8 million shares of its common stock, which could generate up to $81.8 million in proceeds. The company also plans to grant its underwriters the right to buy another 1 million shares. It would be the first IPO from a Washington company in more than two years, since Kirkland, WA-based Clearwire (NASDAQ: CLWR) went public in March 2007.
—Lucid Commerce, the Seattle-based startup focused on business intelligence for direct marketers, has raised $3 million from Kirkland, WA-based OVP Venture Partners and the European venture firm Adinvest. The news was first reported by TechFlash. OVP previously led Lucid Commerce’s $2.5 million Series A financing, which was announced in June 2008.
—Seattle-based Others Online, a Web advertising and optimization startup, was bought by the Los Angeles-based Rubicon Project. Financial terms of the deal, which closed a few months ago, were not announced. Others Online began in 2006 and provides Web publishers with behavioral analytics, ad services, and other software to help them target and generate revenues from their audiences. Four employees, including founder Jordan Mitchell, have joined the Rubicon Project and will remain in Seattle for now.