Corvus Pharmaceuticals rakes in $75 mln Series B

Burlingame, California-based Corvus Pharmaceuticals, a biopharmaceutical company focused on treating cancer, has raised $75 million in Series B funding. Rock Springs Capital Management led the round with participation from other investors that included Fidelity Management and Research Company, Blackrock, Roche Venture Fund, Cormorant Asset Management, venBio Select, Cowen Private Investments, Orbimed, Novo Ventures and Adams Street Partners. Cowen and Company advised Corvus on the transaction. PRESS RELEASE BURLINGAME, Calif.–(BUSINESS WIRE)–Corvus Pharmaceuticals, a private clinical-stage biopharmaceutical company focused on the development of novel agents targeting the immune system to treat patients with cancer, today announced that it closed a $75 million Series B financing. The transaction was led by Rock Springs Capital Management and included other leading healthcare investors such as Fidelity Management and Research Company, Blackrock, funds, accounts managed by T. Rowe Price, Jennison Associates (on behalf of certain clients), Roche Venture Fund, Cormorant Asset Management, Sphera Funds Management, venBio Select and Cowen Private Investments. Founding investors, Orbimed, Novo Ventures and Adams Street Partners also participated in the transaction. Cowen and Company served as an advisor to Corvus. “We are delighted to attract this pre-eminent group of investors, which provides the capital for Corvus to advance the development of multiple product candidates, including an expansion cohort designed Phase 1B trial that will evaluate our novel oral checkpoint inhibitor alone and in combination with another checkpoint inhibitor in several different types of cancer,” said Richard A. Miller, M.D., Chief Executive Officer of Corvus Pharmaceuticals. The proceeds will be used to expand the company’s research and development programs of multiple small molecule and antibody agents in immuno-oncology, including the initiation of a multicenter Phase 1B trial, which is expected to begin in the first quarter of 2016. About Corvus Pharmaceuticals Corvus Pharmaceuticals is a clinical-stage biopharmaceutical company focused on the development of small molecule and antibody agents that target the immune system to treat patients with cancer. These agents block or modify crucial immune checkpoints and reprogram immune T cells. A Phase 1B clinical trial evaluating its oral small molecule checkpoint inhibitor is scheduled to begin in the first quarter of 2016. For more information, visit www.corvuspharma.com.

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Corvus Pharmaceuticals rakes in $75 mln Series B

Cargill’s Black River Asset Management to split into three separate firms: Reuters

(Reuters) — Cargill Inc said on Monday that it will spin off Black River Asset Management LLC and split the hedge fund arm into three separate employee-owned firms. Black River is expected to split into firms to focus on different business streams – fixed income relative value fund, an emerging markets credit fund and a private equity group, Cargill’s spokeswoman Lori Johnson said in an email. The Wall Street Journal reported that two commodities funds focused on agriculture and energy would be moved from within Black River to a business within Cargill. Cargill, which is one of the world’s largest privately held corporations and a top commodity trader, expects to complete these transitions within the next several months. Black River’s board of directors and its senior management team have been conducting a strategic review of the hedge fund’s structure and various firm offerings. The management has just completed the full review, Johnson said. Cargill spokeswoman did not disclose the terms of the deal. The Financial Times earlier first reported that Cargill is winding down Black River Asset Management, the hedge fund arm it started in 2003. (on.ft.com/1MVOCQp) (Reporting by Aurindom Mukherjee and Sneha Banerjee in Bengaluru; Editing by Cynthia Osterman)

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Cargill’s Black River Asset Management to split into three separate firms: Reuters

Element Partners-backed AquaVenture Holdings files for IPO

Tampa-based water purification solutions provider AquaVenture Holdings LLC has filed for an IPO. The number of shares that will be sold as well as the stock’s pricing terms have yet to be set. The company plans on trading the stock on the New York Stock Exchange under the ticker symbol “WAAS.” Citigroup, Deutsche Bank Securities and RBC Capital Markets are serving as the lead underwriters. AquaVenture’s backers include Element Partners. PRESS RELEASE TAMPA, Fla., Sept. 25, 2015 /PRNewswire/ — AquaVenture Holdings LLC today announced that it has publicly filed a registration statement on Form S-1 with the Securities and Exchange Commission relating to a proposed initial public offering of its common shares. The number of shares to be offered and the price range for the offering have not been determined. AquaVenture Holdings has applied to list its common shares on the New York Stock Exchange under the ticker symbol “WAAS.” Citigroup, Deutsche Bank Securities and RBC Capital Markets are acting as joint book-running managers and as representatives of the underwriters. Canaccord Genuity and Raymond James are acting as co-managers. The offering will be made only by means of a prospectus. When available, a copy of the preliminary prospectus related to the offering may be obtained from Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, (Telephone: (800) 831-9146), from Deutsche Bank Securities, Attention: Prospectus Department, 60 Wall Street, New York, NY 10005 (Telephone: (800) 503-4611, Email: prospectus.cpdg@db.com), and from RBC Capital Markets, 200 Vesey Street, 8th Floor, New York, NY 10281-8098; Attention: Equity Syndicate; Telephone: (877) 822-4089; Email: equityprospectus@rbccm.com. A registration statement related to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor may there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About AquaVenture Holdings AquaVenture Holdings is a provider of Water-as-a-Service (WAASTM) solutions that offer customers a reliable and cost-effective source of clean drinking and process water primarily under long-term contracts that minimize capital investment by the customer. AquaVenture Holdings is composed of two operating platforms: Quench, a U.S.-based provider of Point-of-Use, or POU, filtered water systems and related services to more than 40,000 institutional and commercial customers; and Seven Seas Water, a multinational provider of desalination and wastewater treatment solutions, providing 7 billion gallons of potable, high purity industrial grade and ultra-pure water per year to governmental, municipal, industrial and hospitality customers.

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Element Partners-backed AquaVenture Holdings files for IPO