- Oversubscribed Round of Venture Capital Allows Company to Choose Leading
Investors in Plan to Dominate Life Science Content, Community And
E-Commerce -
SAN FRANCISCO, Aug. 16 /PRNewswire/ -- BioSpace.com Inc. today announced
it has secured $14 million in venture capital funding from Alloy Ventures,
Brentwood Venture Capital, Sanderling Ventures and Sofinnova Ventures. This
significant investment will enable the company to further accelerate the
aggressive pace of its growth into the premier vertical hubsite for the
life sciences industry.
"Our goal is to rapidly build BioSpace.com into the highest quality and
most comprehensive life sciences service on the Internet, offering a wealth of
information, community access, and e-commerce," said Jennifer King, founder of
BioSpace.com. "Our new venture capital partners broaden our strengths by
adding global experience and know-how in both information technology and the
life sciences industry. We fully expect our newly combined team will take our
company's many past successes and expand on them to produce the leading
vertical portal in the industry."
Launched on March 15, 1995, BioSpace.com (http://www.biospace.com) is the
leading business-to-business vertical hubsite for the life sciences industry.
BioSpace.com, Inc. serves the industry's four basic needs: the need for
capital, people, information, and products & services. BioSpace fulfills
these needs by connecting industry professionals, investors, patients and
physicians to the tools they need to make better decisions, faster. The
Company was founded in 1985 by Jennifer King and for ten years focused on
promoting bioscience hotbed communities via traditional publishing and
interactive media. Today, BioSpace.com delivers an Internet solution for the
160,000 industry professionals who view over 1,000,000 pages a month of
continuously updated news, company profiles, stocks, jobs, events, regional
hotbed communities and an ever-expanding online marketplace led by BioSpace
Supplies!
The round of funding was led by Sanderling, http://www.sanderling.com, a
leading venture firm dedicated to building successful biomedical companies.
Other premier investors in the financing include Alloy Ventures (previously
Asset Management), http://www.alloyventures.com, Brentwood Venture Capital,
http://www.brentwoodvc.com and Sofinnova Ventures, http://www.sofinnova.com.
Joining the BioSpace.com Board of Directors are Alloy Ventures' Craig
Taylor, Brentwood's Brian Atwood and Sanderling's James L. Healy, M.D., Ph.D.
These investors join current board members, BioSpace.com Founders Jennifer C.
King and Timothy C. Fredel, as well as Peninsula Capital's Greg Penner and
Integrity Partners' Scott Walchek (previously VP of Shopping at Inktomi).
"These new additions to our board of directors will add the perspective of an
experienced venture investor, a successful biotechnology executive and an
accomplished biomedical scientist," said Timothy Fredel.
Sanderling Ventures
"BioSpace.com has done a phenomenal job attracting members, aggregating
relevant resources and promoting brand loyalty. This globe-spanning solution
for both the corporate enterprise and individual executives, scientists, and
investors is poised to become the E-market maker of the biopharmaceutical
community worldwide," said Sanderling's Dr. James Healy. "We are pleased to
add BioSpace.com to our portfolio of leading biomedical companies.
BioSpace.com has all the ingredients of success -- a strong loyal following,
premier customers, and high quality content and commerce in a growing market
that's largely untapped," concluded Healy.
Brentwood Venture Capital
"BioSpace is uniquely positioned as the first and only true vertical
portal in this market as they connect the life sciences professional and the
enterprise to critical resources including global news, research, supplies,
services, capital, financial information and high quality talent," said Brian
Atwood of Brentwood Venture Capital.
Mr. Atwood was previously a founder and President/CEO of Glycomed, a
public drug discovery and development company. Brentwood has been directly
involved in the creation of not only life science companies, but well known
Internet, computer and communication companies.
Alloy Ventures
"BioSpace.com complements our technology and life science portfolio of top
notch companies," said Craig Taylor of Alloy Ventures. "As a vertical portal,
BioSpace.com is positioned to help life science companies revolutionize
discovery in the coming biotech century as BioSpace delivers content,
community and commerce from a single destination."
Sofinnova Ventures
"Our US and European connections will help us create significant value for
BioSpace.com," said Mike Powell, Managing Director of Sofinnova Ventures.
"BioSpace.com is a global brand and complements our strengths in Europe. We
are excited about extending the BioSpace.com brand to every life science
professional in the world."
Biomedical companies backed by this investor syndicate include Advanced
Cardiovascular Systems (Eli Lilly & Co.), Amgen, Applied BioSystems (Perkin
Elmer), Aviron, CombiChem, Coulter Pharmaceuticals, Depotech (Skyepharma),
IDEC Pharmaceuticals, Perclose (Abbott Labs), Regeneron, Ventritex
(St. Jude), Vical and XOMA. Representative information technology investments
include Apple Computer, Actel Corp., Cirrus Logic, Portola (Netscape), eMusic,
Sapient (Healtheon), Stamps.com, WebTV and now, BioSpace.com.
"We are thrilled to have selected these venture firms that in aggregate
have over 100 years of investing experience and have provided financial and
strategic support to over 500 companies," said BioSpace.com founder Jennifer
C. King.
SOURCE BioSpace.com Inc.
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Related links:
http://www.biospace.com
CONTACT:
Norm Wada, Executive Vice President of
Business Development of BioSpace.com, 888-246-7723 (BIOSPACE) or
415-977-1600
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