Pharmaceuticals Topaz
Topaz Pharmaceuticals Inc. of Philadelphia has secured $20 million in Series A financing from Aisling Capital of New York and Fidelity Biosciences of Boston. It will use the funds to complete clinical trials of the company's new prescription medicine to fight head lice and prepare the product for market. The product has an active ingredient derived from a naturally occurring soil organism that is lethal to head lice. The company received its initial seed funding from Ben Franklin Technology Partners of Southeast Pennsylvania. The early-stage drug maker is developing a range of pediatric medicines.
Internet Consorte Media
San Francisco-based Consorte Media, a provider of online marketing technology and services targeting the Hispanic market, has secured a $7 million Series B funding. New investor Sutter Hill Ventures of Palo Alto, Calif., led the round, joined by the returning Mayfield Fund of Menlo Park, Calif. Greg Sands, a managing director at Sutter Hill, will join the Consorte Media board of directors. The company has developed an advertising platform targeting the U.S. Hispanic market that includes a network of premium content sites, an extended advertising network of third-party content sites and targeted lead generation services. The proceeds will go towards business expansion.
Clickable New York's Clickable Inc., a Web service designed to make creating and managing online advertising simple, has completed a $6 million Series A. Pequot Ventures and Union Square Ventures, both of New York, led the round, joined by individual investors Peter Thiel, managing partner of Founders Fund, and Jonathan F. Miller, former America Online chairman and chief executive. Clickable will use the investment for product development for a 2008 public launch as an online advertising service for small and midsize marketers. Rick Heitzmann, a partner at Pequot Ventures has joined the board of directors.
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