Q Therapeutics Inc., a biotechnology company specializing in cell-based therapies for the central nervous system, has secured $15 million in venture capital funding.

The funding was led by vSpring Capital, and also includes Invitrogen Corp., Epic Ventures, Toucan Capital, University of Utah Research Foundation, Salt Lake Life Science Angels and Q Management.

“We are very pleased with the progress made by Q [Therapeutics] since our initial investment,” stated Dinesh Patel, the managing director of vSpring Capital, which is based in Salt Lake City. “Q has the right combination of excellent science and a strong management team to advance its cell-based therapies and bring these important products to clinical development.”

Q Therapeutics is based in Salt Lake City. The company has the rights to 16 patents, thanks to the work by Dr. Mahendra Rao at the University of Utah and the National Institutes of Health. Rao is the company’s scientific co-founder and the chief scientific consultant.

In other venture capital news:

• Suniva Inc., a manufacturer of crystalline silicon solar cells for clean solar power generation, recently raised $50 million in venture capital funding. The funding was co–led by New Enterprise Associates and Advanced Equities Inc. The Goldman Sachs Group Inc. was involved through its subsidiary, Cogentrix Energy Inc. Other investors included HIG Ventures and Quercus Investments. The funds will be used for Suniva’s new manufacturing facility near Atlanta. Ajeet Rohatgi is the founder of Suniva, which is based in Atlanta.
  
• Teranetics Inc.  recently raised $25 million in venture capital funding. The company makes Internet service products, and was founded by Sanjay Kasturia, Rahul Chopra, Sandeep Gupta and Jose Tellado. The investors include Columbia Capital, Granite Global Ventures, Global Catalyst Partners, Venrock and U.S. Venture Partners. The company had raised $53 million in venture capital since 2003 prior to this deal. Teranetics is based in Santa Clara, Calif.
  
• Pyxis Technnology Inc. an electronic design automation company recently raised $5.25 million in venture capital funding. This recent round of funding also includes the addition of KT Venture Group LLC. Existing investors Austin Ventures, CMEA Ventures and Formative Ventures also participated in the latest financing. Pyxis has offices in Austin, Texas. P.T. Patel is the founder, executive vice president and CTO.
  
• GlobalLogic Inc. recently secured $29.5 million in funding. GlobalLogic is a global product development company with more than 140 technology partnerships. The company will use the funding for its merger and acquisitions strategy as it continues to expand. Sanjay Singh is the president and co-founder of GlobalLogic, which is based in Vienna, Va.
  
• Howcast Media has launched a new Web site, www.howcast.com, for consumers to watch and share instructional how-to videos. In addition, the company announced distribution and advertising agreements, and an $8 million round of financing, led by Tudor Investment Corp. Sanjay Raman is the co-founder and vice president of product development. Howcast Media is based in New York.

On the investor side of the deals:

• Tyfone Inc., a software and hardware developer, recently received venture capital funding that was led by India-based Ojas Venture Partners. The terms of the financing were not disclosed. Tyfone will use the investment for its three areas of business – mobile banking, mobile payments and retail merchant relationship services. The company will continue to grow its sales and operations teams. Tyfone is based in Portland, Ore. Nadathur S. Raghavan is the co-founder  and a member of the board for Ojas Venture Partners. He is the former joint managing director of Infosys Technologies.
  
• Khosla Ventures was recently involved in the funding of Infinia Corp., which received $50 million overall in financing. The financing was led by led by GLG Partners, with other participation from Wexford Capital LLC, Vulcan Capital, EQUUS Total Return Inc., Idealab and Power Play Energy LLC. Khosla Ventures was founded by Vinod Khosla, a former general partner at Kleiner Perkins and the founder of Sun Microsystems. Khosla Ventures is based in Menlo Park, California.
  
• POINT Biomedical Corp. secured the first part of $25 million out of $50 million in private funding. The financing is led by Vedanta Capital LLC. POINT expects to draw the other $25 million in the second quarter of 2008. Parag Saxena, the co-Founder and managing partner of Vedanta Capital, will join POINT’s Board of Directors. POINT Biomedical is based in San Carlos, California.