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Deals of the day: Pharma M&A spree continues

By
Dan Primack
Dan Primack
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By
Dan Primack
Dan Primack
Down Arrow Button Icon
May 16, 2014, 11:47 AM ET

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Venture Capital Deals

Pinterest, a San Francisco-based online “pinning” board for social sharing, has raised $200 million in Series F funding at around a $5 billion valuation. SV Angel led the round, via a special purpose vehicle. Return backers include Andreessen Horowitz, Bessemer Venture Partners, FirstMark Capital, Fidelity Investments and Valiant Capital Partners. Read more at Fortune.

Oscar Insurance Corp., a New York-based health insurance startup, has raised $80 million in new VC funding at a reported $800 million valuation. Formation8 led the round, and was joined by return backers General Catalyst Partners and Khosla Ventures. www.hioscar.com

Proteon Therapeutics, a Waltham, Mass. Developer of renal and vascular therapies, has raised $45 million in Series D funding. Abingworth led the round, and was joined by Deerfield Management, Pharmastandard International (Russia) and return backers Intersouth Partners, TVM Capital, Prism VentureWorks, Skyline Ventures, MPM Capital, Devon Park Bioventures, Bessemer Venture Partners and the Vectis Healthcare and Life Sciences Fund. www.proteontherapeutics.com

OpenGov, a Mountain View, Calif.-based developer of cloud-based web apps for analyzing and sharing government data, has raised around $15 million in VC funding. Andreessen Horowitz led the round, and was joined by Formation8 and Thrive Capital. www.opengov.com

Gelesis Inc., a Boston-based developer of a “smart pill” to treat obesity, has raised $12 million in new VC funding from backers like PureTech Ventures. www.gelesis.com

SpoonRocket, a San Francisco-based startup that delivers healthy meals in 10 minutes or less, has raised $11 million in Series B funding led by Foundation Capital. Read more at Fortune.

Odoo (f.k.a. OpenERP), a Belgium-based provider of open-source enterprise resource planning software, has raised $10 million in new VC funding from XAnge Partners, SRIW and Sofinnova Partners. www.openerp.com

Innometrics, a Stockholm-based provider of a customer intelligence platform for omni-channel organizations, has raised $5 million in Series A funding. SEB Venture Capital led the round, and was joined by return backer Fortunator Invest. www.innometrics.com

Soldsie, a San Francisco-based social selling service, has raised $4 million in new Series A funding.First Round Capital led the round, and was joined by SoftTechVC, Lerer Ventures, Correlation Ventures, Great Oaks Ventures, e.Ventures, 500 startups. The round total is now $5.6 million. www.soldsie.com

Compare Metrics, an Austin, Texas-based provider of adaptive commerce navigation and discovery tools, has raised $3.8 million in new VC funding led by Austin Ventures. www.comparemetrics.com

Click With Me Now, a St. Louis-based co-browsing technology platform, has raised $2.25 million in new VC funding. No investors were disclosed. www.clickwithmenow.com

Uber is raising upwards of $1 billion in new funding at a $10 billion valuation, as first reported by Bloomberg. Last summer, the company raised $361 million at a $3.4 billion pre-money valuation from such firms as Google Ventures and TPG Capital. Read more at Fortune.

Private Equity Deals

The Blackstone Group has agreed to acquire Las Vegas resort Cosmopolitan for around $1.73 billion from Deutsche Bank. www.blackstone.com

Golden Gate Capital has agreed to purchase the Red Lobster restaurant business from Darden Restaurants Inc. (NYSE: DRI) for $2.1 billion in cash. Darden will use around $1 billion of the proceeds to retire outstanding debt. Read more at Fortune.

PetroCore LLC, a Dallas-based energy company focused on developing core unconventional oil prospects in North America, has secured more than $100 million in equity commitments from Natural Gas Partners. www.naturalgaspartners.com

Roark Capital Group has offered nearly $1.1 billion to buy Dave & Buster’s, the Dallas-based restaurant and arcade chain currently owned by Oak Hill Capital Partners, according to the WSJ. The move reportedly comes after talks broke down between Oak Hill and a buyer consortium of Onex Corp. and Cineplex. www.daveandbusters.com

Sunrun, a San Francisco-based residential solar company, has raised $150 million in new equity funding. A “leading public institutional investor” led the round, and was joined by unidentified new and return backers. The company previously had raised over $150 million in VC funding from Accel Partners, Sequoia Capital, Madrone Capital Partners and Foundation Capital. www.sunrun.com

IPOs

Jumei International Holding Ltd., a Chinese ecommerce company focused on beauty products, raised $245.1 million in its IPO. The company priced 9.5 million shares at $22 per share (above $19.50-$21.50 per share range). It will trade on the NYSE under ticker symbol JME, while Goldman Sachs (Asia), Credit Suisse and J.P. Morgan served as lead underwriters. Jumei reports $25 million in net income on $483 million in 2013 revenue, compared to $8 million in net income on $233 million in 2012 revenue. Shareholders include Sequoia Capital (18.7% pre-IPO stake) and Ventech China. www.jumei.com

TrueCar, a Santa Monica, Calif.-based publisher of real-time new and used vehicle transaction data, raised $70 million in its IPO. The company priced 7.78 million shares at $9 per share (below $12-$14 range), for an initial market cap of approximately $639 million. It will trade on the Nasdaq under ticker symbol TRUE, while Goldman Sachs and J.P. Morgan served as lead underwriters. The company reports a $25 million net loss on $134 million in 2013 revenue, compared to a $74 million net loss on $80 million in 2012 revenue. The company has raised over $350 million in private equity and debt funding. Shareholders include USAA (26.21% pre-IPO stake), Capricorn Investment Group (16.02%), Upfront Ventures (15.23%), Anthem Ventures (9.31%), Vulcan Capital (9.08%), Passport Capital, McCombs Family Partners, Keating Capital, DealerTrack, International Investment House and Allen & Co. Read more at Fortune.

M&A

Abbott Labs (NYSE: ABT) has agreed to acquire Latin American pharmaceutical company CFR Pharmaceuticals for approximately $2.9 billion (plus the assumption of $430 million in net debt). CFR is a listed company based in Chile, which provides drugs focused on women’s health, central nervous system, cardiovascular and respiratory diseases. www.abbott.com

Carl Icahn has increased his stake in Apple (Nasdaq: AAPL) to 0.88%, or around $4.4 billion, according to a regulatory disclosure. Read more at Fortune.

GIC Investments has agreed to acquire a 14.4% stake in Neptune Storika Holdings, a Philippines-based hospital group owned by listed conglomerate Metro Pacific Investments Corp. (PSE: MPI). The deal is valued at around $85 million. www.mpic.com.ph

Rackspace (NYSE: RAX), a San Antonio, Texas-based web hosting company, said that it has hired Morgan Stanley to explore a sale or other strategic options, after being approached by potential buyers. The company has a current market cap of around $4.3 billion. www.rackspace.com

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

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By Dan Primack
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