Venture Capital Takes Another Dive

Jessica Perry//April 30, 2007

Venture Capital Takes Another Dive

Jessica Perry//April 30, 2007

First-quarter financing of $108.6 million continued a downward trendNew Jersey’s venture financing dropped in the first quarter of 2007 for the third time, as the number of companies that got funds also fell.

Eighteen New Jersey companies got $108.6 million in funding during the first quarter, according to The MoneyTree Report by PricewaterhouseCoopers and the National Venture Capital Association, based on data from Thomson Financial. That was down from the fourth quarter of 2006, when 23 companies secured $176.4 million. In the third quarter of 2006, 16 companies got $226.1 million.

On the national level, venture capitalists pumped $7.1 billion into companies in the first quarter, the most since the fourth quarter of 2001. But only 778 companies were funded in the first quarter, down from 802 in the fourth quarter of 2006.

Locally, the biotechnology sector was No. 1, as three companies took in $51 million. Three companies that make medical devices and equipment were a distant second, capturing a total of $25.5 million in first-quarter venture funding.

Four media and entertainment companies took in $8 million, while software and networking/equipment firms sealed three deals for $10.7 million and two deals for $11.3 million, respectively.

“We are happy to see a number of different industries receiving funding,” says Susan Roos, partner and New Jersey venture capital leader at PricewaterhouseCoopers.

E-mail to [email protected]

AdaptiveBlue Inc

Investment: NA

24 Stoneham Drive

Livingston 07039

Phone: (201) 788-9030

Fax: NA

URL: www.adaptiveblue.com

This was the first round of funding for the

early-stage company.

Alphion Corp.

Investment: $10.2 million

196 Princeton Hightstown Road

Building 1A

Princeton Junction 08550

Phone: (609) 936-9001

Fax: (609) 936-9002

URL: www.alphion.com

This was the seventh round of funding for Alphion.

Amicus Therapeutics Inc.

Investment: $24 million

6 Cedar Brook Drive

Cranbury 08512

Phone: (609) 662-2000

Fax: (609) 662-2001

URL: www.amicustherapeutics.com

This was Amicus’ seventh round of funding.

Cadent Holdings Inc.

Investment: $10 million

640 Gotham Parkway Carlstadt 07072-2405

Phone: (201) 842-0800

Fax: (866) 943-7466

URL: www.cadent.biz

This marks Cadent’s eighth round of financing.

CerioniX Inc.

Investment: $2.5 million

4300 Haddonfield Road, Suite 117

Pennsauken 08109

Phone: (856) 963-5535

Fax: (856) 663-1664

URL: www.cerionx.com

This was the firm’s fourth round of financing.

CircuLite Inc.

Investment: $20 million

401 Hackensack Ave.

Hackensack 07601

Phone: (201) 543-2430

Fax: NA

URL: www.circulite.net

This was CircuLute’s fourth round of financing.

ClassLink Inc.

Investment: $750,000

1200 Harbor Blvd., Ninth Floor

Weehawken 07086

Phone: (201) 271-1010

Fax: (201) 271-0070

URL: www.classlink.com

The firm has completed two rounds of financing.

Eagle Pharmaceutical Inc.

Investment: $22 million

10 Mountain View Road

Upper Saddle River

Phone: (201) 818-6600

Fax: NA


This was the first round of funding for Eagle.

Elanti Systems Inc.

Investment: $1.3 million

98 Floral Ave.

New Providence

Phone: (908) 464-0900

Fax: NA


The company has closed one round of financing.

EluSys Therapeutics Inc.

Investment: $5 million

P.O. Box 102

25 Riverside Drive

Pine Brook 07058

Phone: (973) 808-0222

Fax: (973) 808-0322

URL: www.elusys.com

This was the company’s eighth round of financing.

First Index Group Inc.

Investment: $250,000

99 Cherry Hill Road, Suite 210

Parsippany 07054-1102

Phone: (973) 331-2600

Fax: NA

URL: www.firstindex.com

This was the seventh round of funding for First Index.

MedPage Today LLC

Investment: $2.1 million

150 Clove Road, 10th Floor

Little Falls 07424

Phone: (973) 890-0985

Fax: (973) 890-1327

URL: www.medpagetoday.com

The company has completed one round of financing.

Multispectral Imaging Inc.

Investment: $600,000

100 Misty Lane

Parsippany 07054

Phone: (973) 515-7340

Fax: (973) 515-7350

URL: www.multispectral.net

Multispectral has completed four rounds of financing.


Investment: $4.1 million

280 Union Square Drive

New Hope, PA 18938

Phone: (215) 862-1162

Fax: NA

URL: www.myyearbook.com

MyYearbook.com completed one round of financing.

Preclick Corp.

Investment: $1.6 million

140 Ocean Blvd.

Atlantic Highlands 07716

Phone: (732) 291-7269

Fax: (732) 291-1007

URL: www.preclick.com

The company completed its second round of financing.

ReGen Biologics Inc.

Investment: $3 million

509 Commerce St., East Wing

Franklin Lakes 07417

Phone: (201) 651-5140

Fax: (201) 651-5141

URL: www.regenbio.com

The company completed five rounds of financing.

Terracycle Inc.

Investment: $100,000

121 New York Ave.

Trenton 08638

Phone: (609) 393-4252

Fax: (609) 393-4259

URL: www.terracycle.org

This company completed two rounds of financing.

VPIsystems Inc.

Investment: $1.1 million

943 Holmdel Road

Holmdel 07733

Phone: (732) 332-0233

Fax: (732) 332-0516

URL: www.vpisystems.com

The company completed 10 rounds of financing.

NA: Not Available

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