VentureWire Alert

With many companies holding off news announcements in the wake of last week's tragic events, just nine announced new fundings, totaling some $68 million. Among them were Expand Beyond, which got $11.2 million in its first round of funding from Menlo Ventures, which led the round. Roving Software brought in a $5 million Series C, and optical networking company Innovance Networks of Piscataway, N.J., which added $4 million to an earlier $75 million second round. The biggest star was another optical firm Edgeflow, of Ottawa. Already on its way with ninety employees, Edgeflow raised $24 million in an oversubscribed Series A and is readying its product for customer trials.

Following similar moves by Qualcomm earlier this month, Sun Microsystems told VentureWire that its venture unit has begun to lead rounds as traditional venture firms shy away from the lead investor role. Sun's VC unit also said the amount it has invested this year has fallen considerably due to its increased early-stage activity and the general decline in valuations.

Several firms announced post-summer personnel changes, as Tuscon Community Ventures of Tucson, Ariz., and Schroder Ventures Life Sciences of London said they added investment professionals to their rosters. TA Associates said A. Bruce Johnston has rejoined the firm after a stint as president of idealab! Boston.
-By Suzanne Segers Travers

Can A New Generation of Companies Change Clinical Trials The long and expensive ($500 million) drug approval process is ripe for innovation. Healthcare Outlook has dedicated a special track for management presentations by private companies hoping to seize the opportunity. We also will convene a special industry roundtable: From the Pipeline Through Clinical Trials led by venture capital veteran Sam Collela of Versant Ventures. He'll be joined by: *Jeff Augen, Director, Business Strategy, Life Sciences, IBM *C. Thomas Caskey, President & CEO, Cogene Biotech Ventures *Rodney A. Ferguson , General Partner, JP Morgan *James D. Utterback, Chief Executive Officer, PHT Clinical Networks Come see the companies that will create the change and the experts that can put it in perspective, Healthcare Outlook on October 9 in San Francisco.

VentureWire Breakfast Briefing - The Energy Sector: Urgent Needs, Emerging Opportunities July 24, San Mateo Mariott Announcing the VentureWire Breakfast Briefing Series! Meet with fellow VentureWire readers and hear lively presen- tations from industry leaders on the issues that matter most to you in a setting that stimulates the exchange of ideas. Changes in the $300 billion utility industry and urgent energy production and distribution needs have created oppor- tunities for high-tech investment, as dealflow in other sectors has diminished. Join Bryant J. Tong, Managing Director at Nth Power Technologies, a VC firm focusing on opportunities in the global energy utility marketplace.
http://events.venturewire.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 carriers 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, Pine Photonics, 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. Register by September 14 and SAVE $200: http://www.opticalportfolio.com