alarm:clock euro

Latest Stories

March 02, 2010

VC Exit: Baxter Acquires Synthetic Bone Graft Company ApaTech

Encore Ventures has announced its ApaTech exit. Encore Ventures, a division of DFJ Esprit, held the largest shareholder stake in ApaTech. After agreeing on a deal worth up to $330M (€244M) with Baxter International, investors on both sides are excited. This deal offers brings $240M (€177M) in cash and an additional $90M (€66M), if specific milestones in sales are met in 2010. While it will broaden product lines for Baxter with first class synthetic bone graft technologies its balance sheet will not see any impact until next year.

Founded in 2001, the ApaTech has raised more than $60M (€44M) from investors. Based out of London, with additional offices in Massachusetts (US) and Berlin, ApaTech specializes in synthetic bone graft technology. After its phenomenal growth in 2009, with sales up to $60 million, the company has been considered Europe's fastest growing healthcare technology company. It's product Actifuse offers a silicon substitute in the creation of calcium phosphate bone repair material. The technology is currently marketed in both the US and EU with additional products sold in over 30 countries.

Whenever there's mention of silicon in relation to human bodies, science faces questions of toxicity. Yet, according to 70s research, which found trace levels of silicon in immature bone, silicon could be a metabolic factor in new bone formation.

By Hanif O'Neil

Posted to Buyout | Disease/Clinical Diagnostics | Venture Capital | TrackBack (0) | Permalink

February 28, 2010

MOG Raises $9M: Will Launch All Access Service in UK

So, what's up with the US? Why is it so difficult for Europe's Spotify to make a play within US borders? Is it because the music industry is highly fragmented? Does its disruptor technology pose a perceivable threat to the major labels?

We've heard various excuses for why negotiations have been so tough; is it mainly a cultural clash that's been the lingering issue? We already know established US businesses/industries simply don't believe in free (unless they are the beneficiaries). Our bias aside, this could be the case, or the fact that music labels have been working together to push the US based service MOG, which launched its all-access $5 per month music subscription service in December 2009.

Backed by Balderton Capital and Menlo Ventures MOG has raised $9.5M (€6.9) for further development and international expansion.

The company was founded in 2006, and has grown a user base of 13 million hardcore music fans and influencers; it adds an additional 500,000 users per month. As a self-labeled "music discovery service," it offers its users a catalog of 4 million songs, for unlimited access and playlist creation.

Having licensing deals with Universal Music Group, Sony Music Entertainment, Warner Music Group, EMI Music along with key independents, MOG is in a well established position. It will launch its MOG All Access in the UK by the end of the second quarter with an expanded catalog of 7 million songs. Get ready for the latest chapter in Song Wars. Regardless of the technological innovation, may the labels be with you.