VC-backed Mirna Therapeutics debuts IPO

Austin, Texas-based Mirna Therapeutics Inc, a biopharmaceutical company focused on developing cancer-treating drugs, has raised almost $44 million for its IPO after pricing its 6.25 million shares at $7 per share. The stock began trading Thursday on the NASDAQ under the ticker symbol “MIRN.” Citigroup and Leerink Partners are the lead underwriters. Mirna’s backers included Sofinnova Ventures, New Enterprise Associates, Pfizer Ventures, Osage University Partners and Correlation Ventures. PRESS RELEASE AUSTIN, Texas–(BUSINESS WIRE)–Mirna Therapeutics, Inc., a clinical-stage biopharmaceutical company developing a broad pipeline of microRNA-based oncology therapeutics, today announced the pricing of its initial public offering of 6,250,000 shares of common stock at a public offering price of $7.00 per share. The shares are expected to begin trading on The NASDAQ Global Market under the ticker symbol “MIRN” on October 1, 2015. In addition, Mirna has granted the underwriters a 30-day option to purchase up to an additional 937,500 shares of common stock at the initial public offering price to cover over-allotments, if any. The offering is expected to close on October 6, 2015 subject to customary closing conditions. Citigroup and Leerink Partners are acting as joint book-running managers for the proposed offering. Oppenheimer & Co. and Cantor Fitzgerald & Co. are acting as co-managers. A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission on September 30, 2015. The offering is being made only by means of a prospectus forming part of the effective registration statement. A copy of the final prospectus relating to these securities will be filed with the SEC and may be obtained, when available, from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at prospectus@citi.com or by phone at (800) 831-9146 or from Leerink Partners LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by email at syndicate@leerink.com or by phone at (800) 808-7525. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Mirna Therapeutics, Inc. Mirna is a clinical-stage biopharmaceutical company developing a broad pipeline of microRNA-based oncology therapeutics and is the first to establish clinical proof-of-concept for a microRNA replacement therapy for cancer. Mirna’s lead product candidate, MRX34, a mimic of naturally occurring microRNA-34 (miR-34), is currently being studied in a Phase 1 clinical trial in patients with primary liver cancer, advanced solid tumors and hematological malignancies. miR-34 is one of the most widely published microRNAs and is considered a key regulator of multiple oncogenes across key oncogenic pathways, with the capacity to regulate more than 30 different oncogenes and repress the immune checkpoint signaling molecule PD-L1. The potential capacity to simultaneously affect multiple pathways and processes that are critical to cancer cell viability may make mimics of tumor suppressor microRNAs potent anti-cancer agents and less susceptible to drug resistance. Mirna plans to develop MRX34 as a monotherapy and in combination with other therapeutic modalities, such as targeted therapies and immuno-oncology agents. The company was founded in 2007 and is located in Austin, Texas. For more information, visit www.mirnarx.com.

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VC-backed Mirna Therapeutics debuts IPO

Neuromod Devices raises $6.2 mln

Neuromod Devices Ltd. said Tuesday that it raised 5.5 million euros (US$6.2 million) in Series A funding from Fountain Healthcare Partners. Dublin-based Neuromod specializes in treatment of chronic tinnitus. PRESS RELEASE DUBLIN–(BUSINESS WIRE)–Neuromod Devices Limited (Neuromod), an Irish medical device company specialising in the treatment of chronic tinnitus, announces that it has raised €5.5 million ($6.2million) in Series A Funding from international life sciences venture capital fund Fountain Healthcare Partners. The investment will be used to further enhance scientific and clinical understanding of its bi-modal neuromodulation device, mutebutton®, and commence US clinical trials. The international launch of mutebutton® is targeted for 2018. This investment marks a significant milestone for Neuromod and brings the total raised by the company to-date to over €8 million ($9 million). As part of the Series A financing, Dr Manus Rogan of Fountain Healthcare Partners will join the Board of Directors of Neuromod. Neuromod’s non-invasive mutebutton® device uses bi-modal neuromodulation via simultaneous auditory stimulation in the ear and sensory stimulation on the tongue to promote positive changes in neuroplasticity in parts of the brain implicated in tinnitus. Recent developments in international tinnitus research indicate that neuromodulation is emerging as one of the most promising therapies for certain forms tinnitus. Neuromod will use the proceeds from the investment to advance dose optimisation and patient sub-typing research and commence US clinical trials. The mutebutton® device received a medical device CE mark in Europe in October 2014 and a US Patent for its technology in September 2015. About 250 million people worldwide experience chronic tinnitus on a daily basis. It manifests as an illusory sound with no external source or origin. Chronic tinnitus can have a severe impact on a patient’s quality of life, with documented secondary symptoms including anxiety, insomnia, headaches and depression, resulting in repeat visits to GP’s, ENT surgeons and Clinical Audiologists. Dr Ross O’Neill, Founding CEO of Neuromod commented, “Neuromod is delighted to announce this investment, which will help us to advance our unique chronic tinnitus treatment technology. As an emerging company we welcome the support and knowledge offered to us from partnering with an experienced international life sciences venture capital fund such as Fountain Healthcare Partners. We are also particularly grateful for the ongoing support we have received from our manufacturing partners, M&M Qualtech and Molex, and from Enterprise Ireland, which enable innovative Irish companies, like Neuromod, to grow and succeed on the international stage.” Dr Manus Rogan, Co-Founder and Managing Partner at Fountain Healthcare Partners added. “Neuromod is an exciting company, with the potential to offer a superior treatment to and improve the quality of life of the millions of patients suffering with chronic tinnitus. The company has a proprietary neuromodulation technology, promising clinical results and a highly committed team. Neuromodulation is a key area of interest for Fountain Healthcare and chronic tinnitus is a poorly served global market opportunity with relatively little competition. We are investing in Neuromod to help build a credible and sustainable business in tinnitus with prospects for strong future growth.”

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Neuromod Devices raises $6.2 mln

Andreessen Horowitz backs 3D CAD system Onshape

Andreessen Horowitz has led an $80 million funding round for Onshape, the latter announced in a blog post on its site. The other investors were New Enterprise Associates, Commonwealth Capital Ventures and North Bridge Venture Partners. Based in Cambridge, Massachusetts, Onshape is a full-cloud 3D CAD system.

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Andreessen Horowitz backs 3D CAD system Onshape

BBA Aviation proposes to buy Landmark Aviation for $2.07 billion: Reuters News

(Reuters) — British aircraft services company BBA Aviation Plc (BBA.L) said it proposed to buy U.S. competitor Landmark Aviation [LNDAV.UL] for $2.065 billion, a deal that would make the combined entity the biggest fixed-base operator in the world. The proposed deal would merge BBA Aviation’s Signature Flight Support business, which has the highest number of fixed base operations (FBO) in the United States, with Landmark’s, which has the third highest, in a market that continues to remain highly fragmented. “This is the right time to buy this asset, it’s the right price and we know the business very well,” Chief Executive Simon Pryce said in a media call, terming the acquisition sizeable and relatively low risk. Landmark Aviation, which is owned by private equity firm Carlyle Group LP (CG.O), has been exploring a sale as the corporate jet market is slowly recovering from a downturn sparked by the global financial crisis, helping valuations for companies offering services in the industry. “We remain concerned about the outlook for the business aviation market, and BBA is significantly increasing its exposure to it with this deal,” Liberum analysts said in a note. Pryce, however, shrugged away concerns over tardy growth and said the slow and steady recovery after a few relatively flat years, coupled with a long-term outlook for accelerated growth, looked exciting. Shares in the company fell to a more than two-year low, ranking among the top percentage losers on the FTSE-250 Midcap Index .FTMC on Wednesday. THE DEAL BBA Aviation said it expected the acquisition to add to its earnings in 2017 and the return on invested capital to exceed the weighted average cost of capital in 2018. The acquisition will be funded via new debt facilities and a fully underwritten rights issue of 562,281,811 shares at an issue price of 133 pence per share, raising about 748 million pounds ($1.15 billion), the company said. J.P. Morgan Cazenove, Jefferies International Ltd, Barclays Bank Plc and HSBC Bank Plc are the underwriters for the rights issue. BBA Aviation expects to save $35 million annually in costs by 2017 and sees tax benefits of $240 million. Reuters reported exclusively on Tuesday that BBA Aviation was in talks to acquire Landmark. A peer of Landmark Aviation, Scottsdale, Arizona-based aircraft maintenance services company StandardAero, was sold by Dubai Aerospace Enterprise Ltd to buyout firm Veritas Capital Fund Management LLC in July for $2.1 billion. ($1 = 0.6521 pounds)

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BBA Aviation proposes to buy Landmark Aviation for $2.07 billion: Reuters News

Long Ridge exits Portware

FactSet Research Systems has agreed to acquire Portware LLC for a cash consideration of $265 million. Portware, which was backed by Long Ridge Equity Partners, is a provider of financial information and analytics. PRESS RELEASE NORWALK, Conn., Sept. 22, 2015 (GLOBE NEWSWIRE) — FactSet Research Systems Inc. (NYSE:FDS) (NASDAQ:FDS), a leading provider of integrated financial information and analytical applications to the global investment community, today announced that it has agreed to acquire all the issued and outstanding membership interests of Portware, LLC (www.portware.com) for cash consideration of $265 million. FactSet will fund the acquisition with an expansion of its existing revolving credit facility. Following regulatory review, the transaction is expected to close before the end of FactSet’s first fiscal quarter. Portware is an award-winning, multi-asset execution management system (“EMS”) that is trusted by the world’s largest asset managers. With global clients that stretch across North America, Asia and Europe, Portware delivers products, services, and solutions that transform the way financial institutions analyze, communicate, and execute investment ideas. Portware achieves its success through its highly customizable EMS and its Alpha Vision analytics. Portware embeds its solutions in the middle of each client’s trading ecosystem as it integrates tightly with other key components. Portware emphasizes automation of simpler trades to free traders to focus on adding more value to the most complex trades. “Portware is a highly innovative firm, with keen insight into the trading ecosystem, and strong recent success in the market. We are thrilled to welcome this talented group of individuals,” said Phil Snow, CEO of FactSet. “Portware’s tools and expertise in trading are an exciting complement to our current offerings. We are excited to enhance the productivity of FactSet users as we integrate Portware into adjacent workflows within our client base.” “Portware’s explosive growth over the last three years, despite the difficult environment, is a testament to our strategy and vision for the industry, and we’re excited to bring our proven innovation and people to join the FactSet family,” said Alfred Eskandar, CEO of Portware. “Like FactSet, we believe in putting our clients first and constantly thinking of ways to enhance the client experience. We’re confident that our similar cultures and commitment to excellence will result in a collaborative environment for our people and an incredible opportunity to develop new and exciting products for the industry.” About FactSet FactSet, a leading provider of financial information and analytics, helps the world’s best investment professionals outperform. More than 62,000 users stay ahead of global market trends, access extensive company and industry intelligence, and monitor performance with FactSet’s desktop analytics, mobile applications, and comprehensive data feeds. FactSet has been included in FORTUNE’s Top 100 Best Companies to Work For, the United Kingdom’s Great Places to Work and France’s Best Workplaces. FactSet is listed on the New York Stock Exchange and NASDAQ (NYSE: FDS | NASDAQ: FDS). Learn more at www.factset.com, and follow us on Twitter: www.twitter.com/factset. About Portware Founded in 2000, Portware, LLC is the financial industry’s leading developer of broker-neutral, automated trading solutions for global equities, futures, options and FX. With offices in New York, London, Hong Kong, and Hyderabad, Portware works in partnership with its clients to create highly integrated solutions to streamline workflow and increase operational efficiencies on trading desks worldwide. Portware’s flagship product, Portware Enterprise, is a fully customizable trade management and execution system for single stock, portfolio, basket, automated and algorithmic trading. For more information, please visit www.portware.com.

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Long Ridge exits Portware