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Stem-cell startups merge

Posted on July 8, 2009 5:28 PM
Stem-cell startups Pierian Inc. and iZumi Bio Inc. have merged to form iPierian Inc., the companies announced Wednesday. The combined company is expected to feature some of the nascent field's top scientists and is backed by blue-chip venture firms.

The money and brain trust will push to develop a recent stem-cell breakthrough into laboratory tools to find and test new drugs. The deal brings under-the-radar Pierian, backed by MPM Capital LP, together with iZumi, which launched in 2007 with $20 million from Kleiner Perkins Caufield and Byers and Highland Capital Partners LLC.

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