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Pharmaceuticals Novalar San Diego-based Novalar Pharmaceuticals, Inc. has closed a $30 million Series D round that will allow it to commercialize NV-101, a drug that dentists can administer after dental work to quickly reverse the lingering lip and tongue numbness associated with local dental anesthesia. New Enterprise Associates of Baltimore and Menlo Park, Calif., led the fourth round, joined by previous investors that include Domain Associates LLC of Laguna Niguel, Calif., S.R. One Venture Investments LLC of West Conshohocken, Pa., and Montreux Equity Partners of Menlo Park. The Series D gives Novalar roughly $67 million in total venture capital. Founded in 2000, Novalar closed a $27 million Series C in March 2005, which included Domain, S.R. One, Montreux Equity Partners, as well as Genevest Consulting Group of Geneva and the returning Boston Millennia Partners of Boston. That funding followed a $5 million Series B in November 2003; and a $4 million Series A in 2002. The proceeds will be used to build a sales and marketing organization. --G.W. HemaQuest HemaQuest Pharmaceuticals of Newton, Mass., a company developing proprietary small molecule therapeutics to treat blood disorders, has received $20 million in Series A financing. The company will use the funds for clinical development of its lead drug candidate, an orally administered agent for treating sickle cell anemia and beta thalassemia. Investors in the funding round include De Novo Ventures of Palo Alto, Calif., Forward Ventures of San Diego, and Lilly Ventures of Indianapolis, the venture capital arm of Eli Lilly and Co. HemaQuest intends to submit an IND for its lead molecule before the end of 2007. --G.W. Tranzyme Research Triangle Park, N.C.-based biopharmaceuticals company Tranzyme Inc. has completed a $20 million financing. The funding was led by existing investors H.I.G. Ventures of Miami, Thomas, McNerney & Partners LLC of Minneapolis and Stamford, Conn., and Quaker BioVentures of Philadelphia and Montreal-based Business Development Bank of Canada. The biopharmaceutical company is developing small molecule drugs for the treatment of gastrointestinal and metabolic diseases. The proceeds will be used to advance clinical development of its lead drug, TZP-101, through Phase IIb clinical trials. TZP-101 is an intravenous ghrelin receptor agonist being investigated for the treatment of severe gastroparesis and post-operative ileus. --G.W. Semiconductors Bluespec Waltham, Mass.-based Bluespec Inc. has raised $4.25 million in Series C funding. The round brings the total amount raised by the company to $17.25 million from investors Atlas Venture and North Bridge Venture Partners, both of Waltham. The chip design software maker develops technology used to regulate and interconnect semiconductor clocks. --G.W. Telecom services SinglePipe VoIP services provider SinglePipe Communications has added $2.5 million to its Series A, which previously closed with $4.0 million in January 2007. The financing was led by Louisville, Ky.-based Chrysalis Ventures, joined by London, Ky.-based Meritus Ventures. SinglePipe provides residential and business VoIP services through wholesale and agent channels to companies. Its offerings are targeted at cable operators, CLECs, ISPs, wireless ISPs, and VoIP providers. The initial $4.0 million equity investment was used for the acquisition of ALEC, a Lexington CLEC. --G.W. Venture funds Cisco Network gear maker Cisco Systems Inc. is considering expanding its existing venture capital commitment to China to a possible $100 million, as part of an announced $16 billion expansion in China. The San Jose, Calif.-based company would partner with government-owned China Development Bank to explore jointly providing capital and expertise for Chinese businesses in fields including information technology, healthcare and communications. --G.W.  Deal Video
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