Abingworth taps Gallagher as a partner for Boston office

UK-based Abingworth, an investment firm focused on life sciences, has named Dr. Brian Gallagher as a partner. Previously, he worked at SR One, the venture capital arm of GlaxoSmithKline, where he was a partner and established the company’s Boston office. Gallagher will be based in Abingworth’s Boston office. PRESS RELEASE London, UK, 21 September 2018 – Abingworth, the international investment group dedicated to life sciences, today announced that Brian Gallagher, PhD, will join Abingworth as a Partner based in the company’s Boston office. Brian has more than 20 years of investing, business development, operational and R&D experience in both biotechnology and large pharmaceutical companies. He will work with the team in the London and Menlo Park offices to source and support deals across a wide range of therapeutic areas and stages of development from start-ups to late-stage venture capital investments.
Brian joins from SR One, the venture
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Flexpoint Ford backs MobilityWorks

Flexpoint Ford will make a “significant” investment in Richfield, Ohio-based MobilityWorks, a provider of wheelchair accessible vehicles. In addition to the funding, Michael Fazekas and Dominic Hood, principals of Flexpoint Ford, will join MobilityWorks’ board of directors. Piper Jaffray & Co. served as financial adviser to MobilityWorks on the transaction. PRESS RELEASE RICHFIELD, Ohio, Sept. 19, 2018 /PRNewswire/ — MobilityWorks, the nation’s leading provider of wheelchair accessible vehicles, today announced that it has partnered with Flexpoint Ford, a Chicago-based private equity firm focused on the healthcare and financial services industries, with Flexpoint making a significant equity investment in the Company. Following the investment by Flexpoint Ford, MobilityWorks will continue to operate as an independent company led by its current management team, who will retain a significant ownership stake. The new partnership will accelerate MobilityWorks’ vision of “Accessibility for All” with additional capital for the Company’s ongoing expansion strategy.
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VC-backed Y-mAbs Therapeutics goes public

New York and Denver-based Y-mAbs Therapeutics, a developer of cancer treatments, has raised $96 million for its IPO after pricing its 6 million shares at $16 per share. The stock began trading September 21, 2018 on the NASDAQ under the ticker symbol “YMAB.” BofA Merrill Lynch and Cowen are the lead underwriers. Y-mAbs Therapeutics Inc’ pre-IPO investors included Sofinnova Ventures and Scopia Capital Management. PRESS RELEASE NEW YORK, Sept. 20, 2018 (GLOBE NEWSWIRE) — Y-mAbs Therapeutics, Inc. (the “Company” or “Y-mAbs”) (Nasdaq:YMAB) a late-stage clinical biopharmaceutical company focused on the development and commercialization of novel, antibody-based therapeutic products for the treatment of cancer, today announced the pricing of its initial public offering of 6,000,000 shares of common stock at a public offering price of $16.00 per share, for gross proceeds of $96 million, before underwriting discounts and commissions and estimated offering expenses payable by the Company. All
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Lone Star eyes float of German building materials maker Xella, say sources: Reuters

Buyout group Lone Star is considering a stock market flotation of German building materials maker Xella which it bought in 2016 for 2.2 billion euros ($2.6 billion), three people close to the matter said. The investor could opt for a second-quarter listing in Frankfurt, the people said, adding that it had recently interviewed investment banks and asked for their ideas to develop the company. However, so far no formal pitching process for roles in a potential initial public offering has taken place and no decision on any deal has been taken, they added. Lone Star and Xella declined to comment. Like other private equity investors, Lone Star is trying to benefit from high stock valuations before a possible correction on stock markets and it is therefore considering an IPO after a relatively short period of ownership, the people said. “Everyone is trying to get out of the door
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VC-backed SI-BONE files to go public

Santa Clara, California-based SI-BONE Inc, a medical device company, has filed for an IPO. The number of shares that will be sold as well as its pricing terms have yet to be set. SI-BONE plans on trading the stock on the NASDAQ under the ticker symbol “SIBN.” Morgan Stanley and BofA Merrill Lynch are the lead underwriters. SI-BONE’s pre-IPO backers included Redline Capital Management, Orbimed, Novo A/S, Skyline Ventures and Montreux Equity Partners. PRESS RELEASE SANTA CLARA, Calif., September 20, 2018 – SI-BONE, Inc.(“SI-BONE”), a medical device company that pioneered the minimally invasive surgical treatment of the sacroiliac joint with the iFuse Implant System®, today announced that it has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (“SEC”) relating to a proposed initial public offering of shares of its common stock. The number of shares to be offered
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Silverback Therapeutics racks up $47.5 mln

Seattle-based Silverback Therapeutics Inc, a biotech company developing a pipeline of “systemically delivered, locally active” therapies, has extended its Series A financing round, bringing in the total tally to $47.5 million. OrbiMed led the round with participation from return backers Celgene Corporation and Alexandria Venture Investments. Source: Press Release

Adobe to buy marketing software firm Marketo for $4.75 billion: Reuters

Adobe Systems Inc on Thursday agreed to buy Marketo Inc for $4.75 billion from private equity firm Vista Equity Partners Management, adding heft to its cloud-based digital marketing business. The U.S. Photoshop maker is sharpening its focus on the fast-growing cloud business, a fiercely competitive market dominated by Microsoft Corp, Oracle Corp and Salesforce. Marketo’s business-to-business marketing applications will complement Adobe’s digital marketing business, which provides cloud-based tools to help create, manage and analyze advertising and marketing campaigns, the companies said. Marketo, started in 2006 as an email marketing service, was taken private by Vista for $1.8 billion in 2016. The San Mateo, California-based company generated revenue of about $321 million in 2017, according to credit ratings agency Moody’s Investors Service Inc. The deal is expected to close in the fourth quarter of Adobe’s fiscal 2018 and Marketo Chief Executive Officer Steve Lucas will join the company’s
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Cleo grabs $10 mln in Balderton Capital-led round

London-based Cleo, a digital assistant that helps people manage their finances, has raised $10 million in funding. Balderton Capital led the round. PRESS RELEASE London, 21 September 2018 Cleo, a digital assistant that helps people manage their finances, has secured $10m in investment to further its mission of becoming the global interface for money. Users securely connect their bank accounts to Cleo, who sits on top, giving them personalised insight into their spending data. Predominantly millennials, Cleo’s users talk to her in Facebook Messenger, where she creates a daily relationship between them and their money. Cleo has over 600,000 users, with 94% aged under-35. The AI has a fun, wry, and relatable personality which is helping to drive its rapid growth among millennials. Designed to help young people save, Cleo sets targets, tracks your spending, puts away savings automatically, and answers questions instantly and intelligently. The latest $10m of
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Farfetch tops price range in IPO in boon to luxury market: Reuters

Farfetch (FTCH.N) priced its shares above its targeted range on Friday in a New York flotation that values the online luxury retailer at over $5.8 billion and underscores how big a bet web sales have become for high-end brands. E-commerce is emerging as one of the biggest growth drivers for luxury labels initially fearful of diluting their image by selling online. London-based Farfetch – a 10-year-old site that connects shoppers to hundreds of boutiques and fashion labels but carries no inventory – is one of a clutch of rapidly-expanding multi-brand platforms that got an early foothold in the market. Its shares are set to start trading on the New York stock exchange on Friday, after the company set the offer price in its initial public offering at $20 per share – surpassing the range of $17 to $19 that had already been increased. It will raise $885 million
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uBiome locks in $83 mln Series C

San Francisco-based uBiome, a microbial genomics company, has raised $83 million in Series C financing. OS Fund led the round with participation from other investors that included 8VC, Y Combinator and Dentsu Ventures. Source: Press Release

NEO Global Capital invests in Korean blockchain project Muzika

NEO Global Capital has made an investment in Korea-based blockchain project Muzika. No financial terms were disclosed. PRESS RELEASE SEOUL, South Korea, Sept. 20, 2018 /PRNewswire/ — Muzika, a Korea-based blockchain project that has attracted the attention of high-profile investors in the blockchain space, has announced an investment deal with NEO Global Capital Strategic Partnerships. The investment will assist Muzika’s project incubation and provide resource integration from both parties. Singapore-based NEO Global Capital is the strategic investment vehicle of NEO foundation and one of the largest owners of cryptocurrency in the Asia Pacific region. One of NEO Global Capital’s key investment objectives is not only to promote the mass adoption of blockchain technology in various real-world industries but also disrupt existing business models. Muzika, with an existing user base of 2 million and investments from top notch crypto and blockchain investment groups like T3 Ventures, Everest Ventures Group, 256 Ventures,
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