Local biotech tops chart for biggest VC deal in '07

San Diego Business Journal, Feb 4, 2008 by Heather Chambers

Local Biotech Tops Chart For Biggest VC Deal In '07: Zogenix Inc., a local startup biotechnology company with offices here and in Emeryville, topped the list for the most amount of venture capital investment raised in 2007, according to a survey by the National Venture Capital Association and PricewaterhouseCoopers.

The Carmel Valley-based company raised $78.8 million from investors such as Abingworth Management Ltd., Clarus Ventures, Domain Associates LLC, Scale Venture Partners and Thomas, McNerney & Partners.

Zogenix is focused on the global development and commercialization of sumatriptan Intraject, a disposable, needle-free delivery system that will compete in the $2.5 billion triptan segment of the migraine market.

Other local companies to top the list included Ambit Biosciences, which raised $49.3 million in 2007, Nereus Pharmaceuticals, which garnered $45 million, and Novalar Pharmaceuticals Inc., which raised $42 million.

Send biotechnology-related news to Heather Chambers, hchambers@sdhj. com, or call (858) 277-6259, ext. 3125.