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Pharmaceuticals
AstraZeneca plc has spun out its gastrointestinal disorders unit, calling it Albireo Pharma. Goteborg, Sweden-based Albireo also raised $27 million in the first closing of what it expects to be a $40 million Series A round. LondonÕs Nomura Phase4 Ventures Ltd. led the round joined by TVM Capital of Germany and U.K.-based Scottish Widows Investment Partnership. AstraZeneca will retain a minority stake in the company. Albireo also has secured one clinical and a number of pre-clinical GI programs from AstraZeneca as well as several researchers.
San Francisco video micro blogging startup Seesmic has raised $6 million from a group of well-known technology angel investors. Atomico, the investment fund of Niklas Zennstršm and Janus Friis, led the round; joining were Michael Arrington, Steve Case, Jeff Clavier, Ron Conway, Steve Garfield, Dan Gillmor, Reid Hoffman, Michael Parekh, Mark Pincus, Ariel Poler, Jeff Pulver and Martin Varsavsky. Seesmic enables online communication through video. Using webcams, Seesmic enables users to post videos of their thoughts and ideas and participate in video conversations.
Montreal-based Accedian Networks Inc. has received $7.5 million in Series B funding. Canadian investors RHO Canada, Skypoint Capital Corp. and Solidarity Fund QFL contributed the funds. The company's $4 million in Series A financing closed in March 2006. Accedian has developed carrier-grade technology for ethernet services delivery for telecom, cable and wireless operators. The proceeds will be used for product development and to expand sales, marketing, operations and customer service capacities.
Cleantech startup Odotech Inc. has raised $4 million from Oddo Asset Management of Paris, FondAction of Montreal and Fier Innovation Durable of Sherbrooke, Canada. The capital will be used for marketing of Odowatch, an automated monitoring system for measurement and control of environmental odors. -- Paul Bonanos
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