VentureWire Alert

Biotech players topped the new money list to close the week, raising more than $62 million. DNA sequencing technology developer Solexa led the pack with a solid $17-million Series B led by Schroder Ventures Life Sciences. The top performer in the slumping IT space was Metabyte Networks, a provider of personalized television technolgy, which secured $10 million in second-round financing with some strategic help from Canal+ Technologies.

On the bad news front, Cinta Networks tried to show investors it could control costs by pink-slipping 17 people from its 130-person workforce in the midst of raising $40 million to $50 million in third-round funds. Optical firm Mahi Networks added to the week's layoffs by axing one-third of its 300-employee staff in an effort to control its burn rate. VC firms were not immune either as CMGI@Ventures confirmed three general partners will leave the struggling firm.

Despite the layoffs and departures, there was a glimmer of hope in the M&A world, as the sluggish market got a boost from Capital One Financial, which said it will acquire PeopleFirst.com for 3.7 million shares of its stock, worth some $150 million.
- By Taran Provost

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 online: http://www.opticalportfolio.com

Hitting and Missing In the Drug Discovery Goldmine Genomics and proteomics have opened up new realms of drug discovery. Some investors have rushed in, but others haven't forgotten the lessons learned in previous biotech booms. Remember gene therapy? There will be winners and losers in the race to create a new era in drug therapy. Healthcare Outlook has dedicated a special track for management presentations by private companies in genomics and proteomics. We also will convene a special industry roundtable: From Laboratory to The Pipeline led by James Reddoch, VP & Senior Research Analyst, Healthcare Group, Banc of America Securities. He'll be joined by: *Michael Grey, Chief Business Officer, Structual Genomix *Lowell T. Harmison, Former Deputy Assistant Secretary of Health, Department of Health and Human Services *Daniel Janney, Partner, Alta Partners *Gary Zweiger, Director, Strategic Business Development, Development, Life Sciences, Agilent Technologies 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. Register today at:
http://www.healthcareoutlook.com

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. Register today at: http://www.healthcareoutlook.com