Cancer Cures and Treatments Get Big Time Funding

August 28, 2015

3:00 pm

It’s been interesting to scour the landscape of funding announcements and put them all into one big roundup for you guys. As I go along, it’s been impossible to not recognize certain trends, key players, and common themes amongst startups. Today is no different, and there was a surprising amount of money invested in companies working to cure and treat cancer.

Not to mention Motorola Mobility is working to acquire Lenovo, which is pretty huge. It’s been a wild week, stay tuned for more funding-goodness next week. Also, if you want the roundup delivered directly to your inbox, sign up here!

Funding

MimiVax Brings in $1.55 Million

We all heard about the supposed cancer vaccine that came out of Cuba not too long ago, and now there’s another company wading into the waters. MimiVax is based in Buffalo, New York, and they’ve raised $1.55 million in funding from Buffalo Capital Partners. It’s a nice addition to their previously secured $2 million in government grants and will absolutely go a long way towards helping in the fight against cancer.

Merus Gets $80.5 Million

Merus is currently 12 years old and based out of the Netherlands. However, their cancer therapy methods have brought in about $80.5 million US (€72.8 million) in a recent Series C round. The funds came primarly from Sofinnova Ventures and Novo Ventures with participation from Johnson & Johnson, Pfizer Venture Investments, and Aglaia Oncology Fund.

XL Hybrids

XL Hybrids has made it their mission since starting up to provide hybrid electric powertrain for commercial fleet vehicles. It might not sound like the sexiest idea ever, but they’ve been proven to reduce fuel consumption by a reported 20 percent. They were happy to announce a $10.5 million Series C round led by former Morgan Stanley executive Peter O’Brien. Venture Capital Dispatch.

MagicCube Raises $2.2 Million

MagicCube announced today that they raised a $2.2 million seed round of funding from Azure Capital, Epic Ventures, Bialla Venture Partners, and private investors. MagicCube’s software-only technology secures digital transactions on any mobile device, independent of its hardware or operating system, and stops digital transaction fraud where most vulnerabilities can be found today: at the endpoint.

 

Funds

Cross Valley Capital Builds a $20 Million Fund

Cross Valley Capital successfully raised a $20 million seed fund which it will invest in early stage startups focused on digital health, travel, or logistics.

Acquisitions

Motorola Mobility to Absorb Lenovo

Motorola Mobility is officially making big moves to absorb the mobile unit of Lenovo. It’s kind of confusing though, because Lenovo actually acquired Motorola Mobility from Google in 2014, but Lenovo CEO and chairman ‎Yang Yuanqing says that this will help them restructure their Mobile Business Group to drive growth. The only potential downside is that Lenovo will most likely be laying off about 10 percent of its nonmanufacturing workfoce worldwide.

Image Credit: Wikimedia Commons

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Will is a Senior Writer with Tech.Co, based out of America's Finest City: San Diego. He covers all territory West of the Mississippi river, digging deep for awesome local entrepreneurs, companies, and ideas. He's the resident Android junkie and will be happy to tell you why you should switch to the OS. When he's off the clock, Will focuses his literary talent on the art of creative writing...or you might find him surfing in Ocean Beach. Follow Will on Twitter @WJS1988

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