• 7TM Pharma A/S, of Horsholm, Denmark, closed its €19 million (US$23 million) Series C round, led by LD Pensions in collaboration with Scottish Widows Investment Partnership. Money will be used to support operations into 2008, including clinical development through Phase IIa proof-of-concept trials of the company's lead obesity drugs, TM30338 and TM30339, and the initiation of development of further drug candidates from in-house discovery efforts. Other investors in the financing were Alta Partners, Novo A/S, Index Ventures, Johnson & Johnson Development Corp. and Dansk Innovationsinvestering.

• BioMarin Pharmaceutical Inc., of Novato, Calif., closed its previously announced sale of $172.5 million aggregate principal amount of its 2.5 percent senior subordinated convertible notes due 2013, including $22.5 million purchased as overallotments, as well as the sale of 10.4 million shares of common stock, including 1.4 million shares purchased as overallotments. The company has received about $167.1 million from the notes sale and about $127.6 million from the share offering. Net proceeds will be used to support product commercialization, clinical trials and general corporate purposes. (See BioWorld Today, March 27, 2006.)

• Northwest Biotherapeutics Inc., of Bothell, Wash., entered an agreement with certain institutional investors to raise $5.5 million in a private placement of common stock and warrants. Northwest will issue about 39.5 million shares at 14 cents each, and five-year warrants to purchase up to 19.7 million shares at an exercise price of 14 cents each. The company, which develops immunotherapy products to treat cancer, intends to use the net proceeds for clinical trial activities and corporate purposes. C.E. Unterberg Towbin LLC served as the exclusive placement agent.

• Proteon Therapeutics Inc., of Kansas City, Mo., raised $19 million in a Series A round co-led by TVM Capital and Skyline Ventures, with participation from Prism Venture Partners and Intersouth Partners. The company's lead product, PRT-201, is a human recombinant protein designed to dilate segments of blood vessels, block vasospasm and reduce the formation of vascular scarring to increase the success rate of vascular access surgery patients needing hemodialysis. Along with the financing, TVM general partner Stephen Hoffman, Skyline partner David Lowe and Prism principal Brendan O'Leary joined Proteon's board.