New England drug developers made headlines this week with funding news.
—My San Diego colleague Bruce took a look at Applied Proteomics, the five-year-old biotech startup co-founded by MIT-trained computer scientist Danny Hillis. The startup, which raised $22.5 million in funding in June, is developing technology that provides a 40-gigabyte snapshot of all the proteins circulating in a drop of blood.
—Radius Health, a Cambridge, MA-based startup developing treatments for osteoporosis, filed paperwork indicating its intent to raise $86 million in an initial public offering.
—Investing dollars in biotech and medical devices startups increased in 2011, but the volume of deals shrank, according to a report by PricewaterhouseCoopers and the National Venture Capital Association. Read more of my colleague Arlene’s recap.
—New Jersey-based Celgene (NASDAQ: [[ticker:CELG]]) continued its recent streak of deals with Boston biotechs, with a $15 million investment in Acetylon Pharmaceuticals, a startup funded by New England Patriots owner Robert Kraft. (That should be some consolation.)
—Waltham, MA-based Synchroneuron raised $6 million in funding from Morningside Technology Ventures—a milestone for founder Barry Fogel, who has been working for 15 years on a treatment for a movement disorder called tardive dyskinesia (TD).
