COO of SmartCells to Speak at TCN Event
James Herriman, COO of SmartCells Inc., will speak at TCN’s upcoming Negotiation & Valuation Financing Roundtable on February 9th. SmartCells is a private company based in Beverly, MA that develops a glucose responsive insulin formulation for the treatment of diabetes mellitus. They have received funding from Boston-based angel groups including Boston Harbor Angels, Angel Healthcare Investors, Beacon Street Angels, and Common Angels.
In December 2010, SmartCells was acquired by Merck & Co., Inc.. Nancy Thornberry, Senior Vice President and Head of Merck Research Laboratories’s Diabetes and Obesity Franchise, said that “maintaining control of blood glucose levels represents a daily challenge for people living with diabetes. Through the acquisition of SmartCells we have obtained innovative technology that may enable us to develop glucose-responsive insulins.” Merck acquired all outstanding stock of SmartCells, Inc., and in return SmartCells shareholders received an upfront cash payment and will be eligible to receive clinical development and regulatory milestones for products resulting from the transaction for potential aggregate payments in excess of $500 million. Sales-based payments for products resulting from the transaction will also be payable. SmartCells’ board of directors unanimously approved the transaction. [Taken from the SmartCells website.]
Learn more about SmartCells’ successful financings and exit and enjoy the opportunity to test your valuation abilities and acumen in real time at TCN’s Evening Roundtable on February 9th. Seats are still available. For more information and to register, visit the TCN website.
The Capital Network (TCN) is Boston’s leading non-profit organization providing extensive educational programs and a community to help early-stage entrepreneurs master the entire funding process and successfully raise seed capital for financing their high-growth startup.
