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Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for

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Deals of the day: Allergan rebuffs Valeant

By
Dan Primack
Dan Primack
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By
Dan Primack
Dan Primack
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May 12, 2014, 2:01 PM ET
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Venture Capital Deals

Chase Pharmaceuticals Corp., a Washington, D.C.-based drug development company focused on Alzheimer-type dementia, has raised $21 million in Series B funding. New Rhein Healthcare Investors led the round, and was joined by Edmond de Rothschild Investment Partners, Cipla Ventures and return backer Brain Trust Accelerator Fund. www.chasepharmaceuticals.com

Pure Life Renal
, a Hollywood, Fla.-based provider of kidney dialysis services, has raised $20 million in new VC funding, according to VentureWire. Backers include Montreux Equity Partners, Noro-Moseley Partners and Hamilton Lane. www.plrenal.com 

Talkspace
, a text messaging startup focused the mental health talk therapy market, has raised $2.5 million in new VC funding from Spark Capital and Softbank. www.talkspace.com

Private Equity Deals

Accord Group Holdings, a San Francisco-based provider of investment management and advisory services to the real estate private equity industry, has raised an undisclosed amount of preferred equity funding from JMP Group.

CPS Products Canada Ltd
., a portfolio company of Harbour Group, has acquired the assets ofUView Ultraviolet Systems Inc., an Ontario-based maker of tools and equipment for professional automotive technicians.  No financial terms were disclosed. www.cpsproducts.com

Huron Capital Partners
 has formed Valentus Specialty Chemicals Inc., an acquisition platform focused on specialty coatings producers. No terms of the financial commitment were disclosed. Valentus will be led by Ray Chlodney, a Huron operating partner who previously was CEO of Spraylat Corp. (acquired by PPG Industries in Dec. 2012). www.huroncapital.com

QC Corp.
, a Baltimore–based provider of granular and dry micronutrients and ferrous sulfate products, has secured an undisclosed amount of private equity funding from Paine & Partners LLC. www.qccorporation.com

Thoma Bravo has completed its previously-announced $930 million acquisition of TravelClick, a New York–based provider of cloud-based revenue generation solutions for the hospitality industry, from Genstar Capital, www.travelclick.com

IPOs

Agile Therapeutics Inc., a Princeton, N.J.-based developer of prescription contraceptive products, has set its IPO terms to around 4.62 million shares being offered at between $12 and $14 per share. It would have an initial market cap of approximately $180 million, were it to price in the middle of its range. The company plans to trade on the Nasdaq under ticker symbol AGRX, while RBC Capital Markets and William Blair are serving as lead underwriters. Shareholders include ProQuest Investments (30.4% pre-IPO stake), Care Capital (26.6%), Investor Growth Capital (26.6%) and Aisling Capital (8.9%). www.agiletherapeutics.com

DermTech International
, a La Jolla, Calif.-based developer of non-invasive gene expression tests to aid in the diagnosis of various skin conditions, has filed for a $25 million IPO. It plans to trade on the Nasdaq under ticker symbol DMTK, with Maxim Group serving as lead underwriter. Shareholders in the pre-revenue company include Jacobs Investment Group. www.dermtech.com

First Foundation Inc.
, an Irvine, Calif.-based provider of wealth management services to high-net-worth individuals in California, has set its IPO terms to 2.22 million shares being offered at between $21 and $24 per share. It plans to trade on the Nasdaq under ticker symbol FFWM, with Sandler O’Neill + Partners and Keefe, Bruyette & Woods serving as lead underwriters.

Lone Star Funds is prepping a second-half 2014 IPO for German property company TLG Immobilien GmbH, according to Bloomberg. www.tlg.de

PBF Logistics LP
, an oil and gas logistics assets spinoff of PBF Energy (NYSE: PBF), raised $316 million in its IPO. The company priced 13.75 million shares at $23 per share (above $19-$21 range), and will trade on the NYSE under ticker symbol PBFX. Barclays and UBS served as leadunderwriters.www.pbfenergy.com/logistics 

Radius Health Inc.
, a Cambridge, Mass.-based developer of drug therapies for osteoporosis and women’s health, has postponed its IPO. The company had planned to offer 5 million shares at between $14 and $16 per share, with Jefferies and Cowan & Co. serving as lead underwriters. Radius Health has raised over $200 million in VC funding from MPM Capital (28% pre-IPO stake), The Wellcome Trust (7.9%), HealthCare Ventures (6.3%), BB Biotech Ventures (6.6%), Saints Capital (5.2!), Nordic Bioscience (12.7%) and Brookside Capital Partners (5.9%). www.radiuspharm.com  

Tuniu Corp., a Chinese provider of packaged tours, raised $72 million in its IPO. The company priced 8 million shares at $9 per share (low end of $9-$11 range), and began trading on the Nasdaq under ticker symbol TOUR. Morgan Stanley served as lead underwriter. Tuniu reports a $13 million net loss on $324 million in 2013 revenue. Shareholders include DCM (23.5% pre-IPO stake), Esta Investments (16.7%), Gobi Partners (16.4%), Sequoia Capital China (13.2%), Dragon Rabbit Capital (9.6%), Verne Capital (6.4%) and Highland Capital Partners. www.tuniu.com 

M&A

Allergan Inc. (NYSE: AGN) has rejected a $50 billion takeover offer from Valeant Pharmaceuticals International Inc. (NYSE: VRX) and Pershing Square Capital Management. Read more.

British Sky Broadcasting (LSE: BSY) said that it is in “preliminary discussions” to acquire a controlling stake in the Sky-branded pay TV business in Germany and Italy from 21st Century Fox(Nasdaq: FOXA). www.sky.com

Hillshire Brands Inc. (NYSE: HSH) has agreed to acquire Pinnacle Foods Inc. (NYSE: PF) for approximately $6 billion in cash and stock ($18 per share in cash, 0.50 per share in Hillshire stock). Sellers include The Blackstone Group, which holds a 51% stake in Pinnacle Foods. Read more.

United Spirits (BSE: 532432) of India has agreed to sell its Whyte & Mackay whiskey business to Philippines-based brandy maker Emperador (PSE: EMP) for £430 million. www.whyteandmackay.com

Akorn Inc. (Nasdaq: AKRX) has agreed to acquire VersaPharm Inc., a Marietta, Ga.-based developer of multi-source prescription pharmaceuticals, from Tailwind Capital for $440 million in cash. www.versapharm.com

EnCap Investments
 has hired Barclays to find a buyer for U.S. gas pipeline infrastructure companyNuevo Midstream LLC, according to Reuters. The deal could be valued at more than $2.5 billion. www.nuevomidstream.com

Shawcor Ltd.
 (TSX: SCL) has agreed to acquire Desert NDT LLC, a Houston, Texas-based provider of non-destructive testing services for new oil and gas gathering pipelines, for $260 million. The seller isSterling Partners. www.shawcor.com

Shire PLC 
(Nasdaq: SHPG) has agreed to acquire Lumena Pharmaceuticals Inc., a San Diego-based developer of oral therapeutics for rare liver diseases that was in registration for a $75 million IPO. The deal includes a $260 million up-front cash payment, plus possible milestone payments. Lumena had raised over $45 million in VC funding from such firms as Alta Partners (34% stake), New Enterprise Associates (17%), RiverVest Ventures (14.9%), Pappas Ventures (12.2%) and Adage Capital Partners (7.9%). www.lumenapharma.com 

Warburg Pincus and Novo AS are seeking a buyer for British specialty drugmaker Archimedes Pharma Ltd., according to LBO Wire. The company could be valued at more than $200 million. www.archimedespharma.com

Sign up for Dan Primack’s daily email newsletter on deals and deal-makers: GetTermSheet.com

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