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Recent Financings of Private Companies (06/2006)

Each month, Start-Up presents a comprehensive review of young, private life science companies that have recieved venture funding during the month, including companies in the pharmaceutical, medical device, diagnostic and research instrumentation & reagent sectors.

May—Molecular diagnostics company Nanosphere closed its Series D round, bringing in $57mm in what industry analysts report as one the highest grossing private placements ever for a nanotech company. Bain Capital LLC led the round and was joined by Brookside Capital, Allen & Co., and founding backer Lurie Investments. Nanosphere was formed in 2000, and including this round, has raised a total of $110mm. It will use the Series D proceeds to market its Verigene automated nucleic acid and protein detection system.

May—Aerovance, a company that develops respiratory and inflammatory biotech compounds, secured $60mm in a two-tranche Series C financing that was...

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