VC Roundup: Quaker gets aroused, Safeguard swaps debt

Welcome to the VC Round-up, where we’ll parse through venture capital news related to Philadelphia-based private equity firms and the companies they fund. Subscribe to the roundup as an email newsletter. If you have any VC-related news to pass along to us, please drop us a line.

DEFINITE READS

As we tweeted yesterday, Fast Company interviewed Josh Kopelman about why people should start a company in Philly. In the interview Kopelman points to local universities and the low cost of living as prime reasons people should set up shop here. The article came after the local community lobbied the magazine to be included in its series.

According to a press release, Quaker BioVentures has teamed up with a student-run VC firm to invest in Semprae Laboratories. The company makes “arousal” oils. Yes, we’re serious.

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VC Roundup: GoodCompany goes to NYC, ETF changes name

Welcome to the VC Round-up, where we’ll parse through venture capital news related to Philadelphia-based private equity firms and the companies they fund. Subscribe to the roundup as an email newsletter. If you have any VC-related news to pass along to us, please drop us a line.

DEFINITE READS

GoodCompany Ventures is kicking off a handful of events up and down the east coast to discuss the social good of entrepreneurship and to raise awareness about the fund’s 2010 incubator. First up: The 67th Ward. The panel will be moderated by Fred Wilson, founder of Union Square Ventures and well-read VC blogger. The fund promises Technically Philly that a Philly event is in the works, but for now we’ll be at the NYC edition. So if you managed to snag tickets, be sure to say hello.

Tengion, a Quaker BioVentures backed company is raising money for an IPO.

ETF Ventures has changed its name to SeventySix Capital. Presumably because of the company’s West Conshohocken location right off of the Schuylkill Expressway. Or, as another theory suggests, they’re big basketball fans.

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VC Roundup: 2009 slightly less depressing than 2008, Google invests in DreamIt grad

Welcome to our brand new weekly round-up, where we’ll parse through venture capital news related to Philadelphia-based private equity firms and the companies they fund. Subscribe to the roundup as an email newsletter. If you have any VC-related news to pass along to us, please drop us a line or corner us at our next meetup.

DEFINITE READS

The National Venture Capital Association has published its yearly “exit poll” tracking VC-funded company exits. IPOs were higher in 2009 in year-over-year numbers, but M&A activity declined slightly. Both metrics are still lower than pre-recession numbers.

Boston-based DreamIt Ventures grad SCVNGR has just received $4 million from Google Ventures. The company, makers of location-based gaming platforms, is profitable with over $1 million in revenue in its first year.

After the jump, the passing of a local VC leader and the firm that is touring New York City incubator spaces as if it were on a pub crawl.

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Safeguard Scientifics invests $5 million in locally-based Quinnova

Now this is what we like to see: local VCs investing in local companies.

Wayne-based Safeguard Scientifics has invested $5 million in Newtown-based Quinnova Pharmaceuticals. The investment leads a Series B expansion round of  $17.4 million.

According to a press release, the company will use the investment in part to fund a Phase III clinical trial and to aid in the company’s sales and marketing efforts. Quinnova specializes in developing drugs that can be applied through the skin and has a patent on technology for a delivering skin medicine in a foam.

According the Inquirer’s Joe Destefano, Quinnova employs 40 people and is developing additional products under its Proderm and Neosalus brands.

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Friday Q&A: Jane Hollingsworth of NuPathe on Zelrix, migraines and more

The Zelrix acute-migraine patch introduced by Conshohocken-based NuPathe. Will it fight upstream to market?

Updated 9/18/09 @ 2:42 p.m. Name in title

When Jane Hollingsworth takes a pill to help fight a headache, she might get nauseous or sicker still.

More than half of American adults suffer similarly, she says, which is a bear of a nuisance for anyone with an acute migraine and a problem with the most common medicinal cure. Still many just put up with the pain.

Because it’s affecting millions of people who just might happily pay for a solution, there is admitted industry buzz swarming NuPathe, the Conshohocken-based specialty pharmaceutical company that says it could help everyone with a pain in their head who doesn’t want a pill to swallow. After a scheduled new drug application is filed next year, you just might know someone who uses Zelrix, a NuPathe-manufactured patch that secretes migraine-fighting medication into the bloodstream.

Jane Hollingsworth

“There is no patch for migraines now. There has never been,” says Hollingsworth, 50, the 25-employee company’s CEO who helped launch it in 2005. “It’s very difficult to get drugs through the skin quickly, which is important for migraines especially.”

Difficult for everybody else, she must mean. Because, as the company’s comprehensive phase-III trial data summary presentation suggested at last week’s 14th Congress of the International Headache Society held at the Convention Center, things for NuPathe are going, as Hollingsworth says, “exceedingly well.”

After the jump, the Ardmore native tells us how technology makes Zelrix work, why biomedical entrepreneurship in Philadelphia lags behind smaller hubs like Boston, why she has to cheer for the Flyers and more.

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BFTP elects two new board members

Ben Franklin Technology Partners has elected two new members to its board of directors.

According to a press release (PDF) issued by BFTP, Walter Buckley and Dr. Kenneth Lawrence have taken the seats on the board, which now numbers 27 members.

Both men bring a highly specialized expertise to the board. Buckley has extensive experience in technology investment, while Dr. Lawrence is considered an energy expert with decades of experience in the industry.

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Shop Talk: Philadelphia’s venture capital community on Twitter

Image courtesy of millionclues.com

If you have ever shown a friend or relative Twitter, you were probably met with a response along the lines of, “Why would I ever want to use this?”

Mostly, it’s hard to quantify the usefulness of a tool such as Twitter, but the startup and venture capital research Web site Chubbybrain has given it their best shot by asking the question: Do VCs who use Twitter invest in more startups?

The report is an interesting look at how venture capital firms use Twitter while judging its effectiveness. But, as expected, the report focuses mostly on VCs in California, Boston and New York. That got us thinking, what local VC’s are on Twitter?
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Friday Tech Links: Our life sciences sector rocks, the Commodore and More

In which we link out to the tech news from Philly and elsewhere (when it matters) that slips through the cracks and make it way fun. See others here.

Our region’s life sciences sector ranked first in the “current impact” category, and second overall (to Boston, bah), in a biotechnology industry study conducted by the Milken Institute, according to a report by the Philadelphia Business Journal’s John George, a proud graduate from Temple University-Ambler. As we earlier suggested, this is really one of the more impactful, meaningful and substantiated stupid lists Philadelphia has been put in during recent years.

That news preceded the announcement of one of the year’s largest life sciences venture capital deals happening here. University City’s Avid Radiopharmaceuticals scored a $34.5 million financing, led by a San Francisco VC firm, but assisted by a couple of local boys, BioAdvance, also a Penn neighbor, and Safeguard Scientifics of Wayne, as also reported by George of PBJ.

California tries to ban violent video games for kids, a (sorta) regional Web site management company makes a big aquisition and a lot of messed up Craigslist stories you should read — in addition to our most trafficked post of the week — after the jump.

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