VentureWire Alert <http://alert.venturewire.com> 	 For Jeffrey Dasovich, Enron 	


VENTURE 
MARKET 
SUMMARY 

	It was an active day on the funding front with 20 companies reeling in $196 million. Biotech continues to be a hot sector, with Edinburgh, Scotland-based Ardana Bioscience, a reproductive health pharmaceutical company, raising GBP 13.3 million ($20 million) in its first round of funding led by Merlin Biosciences. 

Another European life sciences startup, Axxima Pharmaceuticals, a developer of proprietary small molecule compounds that block signal transduction pathways pathogens need to survive, said it received EUR 30.6 million ($27 million) in third-round funds led by new investor Bear Sterns Health Innoventures. The funding was the first Bear Sterns has made through its Health Innoventures unit.

Meanwhile, NexRay, a Los Gatos, Calif.-based developer of medical x-ray fluoroscopy systems, said it raised $21 million with most of the financing coming from new investors JPMorgan Partners, AIG Global, RiverVest Ventures, Wheatley Partners, and Greater Bay Bank. 

Also trying to take advantage of the biotech market is Senmed Medical Ventures, which operates the venture capital arm of Sentron Medical. The Cincinnati-based firm, which invests in mid-stage medical companies, is preparing to raise its first venture capital fund from outside investors, Skip Dederick, the firm's group director of venture projects, told VentureWire. Senmed, which now operates an evergreen fund, will begin talking to potential limited partners, targeting approximately $150 million. - By John Fuller <mailto:fuller@technologicp.com>	


The complete text of the stories below, as well as 35 additional venture-capital and private-company stories, are available today exclusively to subscribers to our new, premium service, VentureWire Professional. Find out more. <http://professional.venturewire.com/m2_professional.asp> 

EXECUTIVE SUMMIT 
The Fairmont
San Jose, CA
November 6, 2001

Executive Summit <http://events.venturewire.com/summit/>Robert C. Miller
Chief Executive Officer
Slam Dunk Networks


A veteran of Silicon Valley, Bob Miller began his career at IBM, where as one of the youngest R&D lab directors in the company's history he led the creation of the first large-scale plasma panels -- the forerunner to the flat-screen television of today. While at IBM he was awarded six computer and systems architecture patents and was responsible for VTAM, a global networking solution. He left IBM to become COO for the computer systems business of Data General, where he headed the development of the DG-1, the first fully PC-compatible laptop, and the Comprehensive Electronic Office, an early networked office automation solution. Bob later served as CEO of MIPS Computers, where he led the development of the first 64-bit microprocessor. He also spearheaded the company's initial public offering and subsequent purchase by SGI (formerly Silicon Graphics). From MIPS, Bob went on to found NeTpower and served as its chairman and CEO. And, on November 6, at the Fairmont in! San Jose, he will share his perspectives with us on what it takes to continue growing your company on these trying times. Register today for one of the remaining places.  <http://events.venturewire.com/summitEvent.asp>	

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How to Get Ready Today to Get Bought Tomorrow

Mergers and acquisitions will pick up again, perhaps
before IPOs do, and few know more about preparing for
such an exit strategy than Ammar Hanafi, Matt L'Heureux,
Steve Smith, and Les Vadasz. Currently advising HP on
its $21 billion takeover of Compaq, Matt heads Goldman's
worldwide technology M&A. Steve built Broadview's
Silicon Valley business. Les, head of Intel Capital,
and Ammar, his counterpart at Cisco, run two of the
world's most extensive corporate development and
acquisition programs. You'd be hard-pressed to find four
more qualified to tell you how to find the right
corporate partner and make the relationship work. For
straight talk from the voices of authority, register
today.

VentureWire Executive Summit
Managing the Downturn: Survival Strategies for 2002
The Fairmont, San Jose
November 6, 2001

	http://events.venturewire.com/summit/default.asp <http://venturewire.com/ads/ad.asp?id=1439>
 advertise <http://alert.venturewire.com/adv.asp>
 tell a friend <http://venturewire.gazooba.com/cid1201/tellafriend.html>

VENTUREWIRE INDEX <http://venturewire.com/index.asp> VentureWire Index <http://venturewire.com/index.asp>
485.4   -3.19% 	
NOTABLE DEALS


Scottish Reproductive Health Firm Ardana Gets $20M Series A 	  mail <http://alert.venturewire.com/o_mailer.asp?sid=QLNLPNQLII>  	
EDINBURGH, SCOTLAND -- Ardana Bioscience, a reproductive health pharmaceutical company, said it raised GBP 13.3 million ($20 million) in its first round of fundraising. [more.. <http://professional.venturewire.com/prostory.asp>]
	

Divine Acquires Synchrony Communications 	  mail <http://alert.venturewire.com/o_mailer.asp?sid=HHMJHNJMII>  	
CHICAGO -- Divine, a publicly traded integrated services provider, said it has acquired Synchrony Communications, a customer interaction management suite provider. The terms of the deals were not disclosed. [more.. <http://professional.venturewire.com/prostory.asp>]
<http://www.synchrony.net> 
<http://www.divine.com> 	

Medical Device Firm NexRay Gets $21 Million in Funding	  mail <http://alert.venturewire.com/o_mailer.asp?sid=IJOMMPIMII>  	
LOS GATOS, CALIF. -- NexRay, a developer of medical x-ray fluoroscopy systems, said it raised $21 million in venture capital financing. [more.. <http://professional.venturewire.com/prostory.asp>]
	

Senmed Medical Ventures Raising First Outside Fund	  mail <http://alert.venturewire.com/o_mailer.asp?sid=IHJJLIQLII>  	
NEW YORK -- Senmed Medical Ventures, which operates the venture capital arm of Sentron Medical, is preparing to raise its first outside venture capital fund, Skip Dederick, the firm's group director of venture projects, told VentureWire. [more.. <http://professional.venturewire.com/prostory.asp>]
<http://www.senmed.com> 	



Bio Firm IatroQuest Gets $4.8 Million in Series A Funds	  mail <http://alert.venturewire.com/o_mailer.asp?sid=IPLIQQIMII>  	
MONTREAL -- IatroQuest, a developer miniaturised biosensing technologies for the detection and identification of biological and chemical agents, said it received $4.8 million in Series A funding. [more.. <http://professional.venturewire.com/prostory.asp>]
<http://www.iatroquest.com> 	

German Pharma Firm Axxima Raises $27M in Third Round	  mail <http://alert.venturewire.com/o_mailer.asp?sid=LHNMLKQLII>  	
MARTINSRIED, GERMANY -- Axxima Pharmaceuticals, a developer of proprietary small molecule compounds that block signal transduction pathways pathogens need to survive, said it received EUR 30.6 million ($27 million) in third-round funds. [more.. <http://professional.venturewire.com/prostory.asp>]
<http://www.axxima.com> 	

Server Management Firm BladeLogic Gets $6M First Round 	  mail <http://alert.venturewire.com/o_mailer.asp?sid=INMPQLHMII>  	
LEXINGTON, MASS. -- BladeLogic, a provider of multi-platform technology to manage networks of servers running a variety of operating systems, said it received $6 million in its first round of funding. [more.. <http://professional.venturewire.com/prostory.asp>]
<http://www.bladelogic.com> 	

Starent Networks Raises $22 Million Series B	  mail <http://alert.venturewire.com/o_mailer.asp?sid=ILJLKNHMII>  	
TEWKSBURY, MASS. -- Starent Networks, which develops a platform for wireless network providers, said it raised $22 million in its Series B. [more.. <http://professional.venturewire.com/prostory.asp>]
<http://www.starentnetworks.com> 	

IntelliSpace Adds $10M to Cap Series B at $70M 	  mail <http://alert.venturewire.com/o_mailer.asp?sid=NKPNINQLII>  	
NEW YORK -- IntelliSpace, an Ethernet IP broadband services provider, said it raised an additional $10 million in Series B equity funding from Halpern & Denny and other existing investors to close the round at $70 million. The company has raised more than $110 million to date. [more.. <http://professional.venturewire.com/prostory.asp>]
<http://www.intellispace.com> 	

Online Gamer Artifact Entertainment Gets $4.5M in Round Two	  mail <http://alert.venturewire.com/o_mailer.asp?sid=LNOMLIKMII>  	
MESA, ARIZ. -- Artifact Entertainment, a developer of online, multiplayer games and technology, said it raised $4.5 million in its second round of funding. [more.. <http://professional.venturewire.com/prostory.asp>]
<http://www.artifact-entertainment.com> 	

Software Development Firm Lohika Gets $1.25M Series A	  mail <http://alert.venturewire.com/o_mailer.asp?sid=ILHOOIIMII>  	
SAN MATEO, CALIF. -- Lohika Systems, which provides outsourced software development, integration, and maintenance services, said it completed its Series A financing. It raised $1.25 million from a group of individual investors. [more.. <http://professional.venturewire.com/prostory.asp>]
<http://www.lohika.com> 	


Saving Costs via Optics

With capital scarce and bandwidth aplenty, optical
components manufacturers face tough market conditions.
Now, systems companies are focusing on reducing costs
and helping carrier do more with the capacity they
already have. Happily, a number of optical technology
companies appear well positioned to capitalize on this
trend. At Optical Portfolio, you'll hear from startups
such as Symmorphix, Telephotonics and Proximion Fiber
Optics, which are using integration, tunability, and
real-time network monitoring to create more intelligent
and efficient optical networks.

VentureWire Optical Portfolio, Boston Marriott Cambridge,
October 24 & 25.
The resources necessary to  Register online:

http://www.opticalportfolio.com <http://venturewire.com/ads/ad.asp?id=1440>

Electronic Library netLibrary Seeks Buyer, Cuts Salaries	  mail <http://alert.venturewire.com/o_mailer.asp?sid=QNQQIOIMII>  	
BOULDER, COLO. -- netLibrary, a provider of e-books and Internet-based content management services for the institutional library market, said it is seeking a buyer. The company also significantly reduced employees' salaries and said future employment of its staff would be dependent on identifying an interested buyer and related bridge loan financing. [more.. <http://professional.venturewire.com/prostory.asp>]
<http://www.netlibrary.com> 	



A funny thing happened on the way to the market

The resources necessary to conduct clinical trials
require an enormous investment and small road bumps
in the drug approval process can kill a promising drug.
For many start-ups, one strike means you're out.  New
technologies and business models, however, promise to
dramatically change trial management.  This year's
Healthcare Outlook will look at the impact of clinical
trials on emerging companies as well as the investment
opportunities available in companies that look to change
the status quo. Healthcare Outlook's Private Equity
Platform has dedicated a special track that will feature
management presentations by early-stage companies looking
to improve the clinical trial process.  In addition, the
meeting will feature an industry roundtable, From the
Pipeline Through Clinical Trials, moderated by Sam
Collela, Managing Director of Versant Ventures.
Healthcare Outlook, Biotechnology and Pharmaceuticals:
Discovery, Development and Delivery.

Healthcare Outlook
January 22, 2002
San Francisco Airport Marriott, Burlingame, Calif

	http://www.healthcareoutlook.com <http://venturewire.com/ads/ad.asp?id=1441>

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