A formal investigation has been launched into the actions of recently named Massachusetts Biotechnology Council president Robert Coughlin, the Boston Globe reports today. The question at issue is whether Coughlin violated Massachusetts conflict-of-interest laws when he started discussing the council job while still working as the state’s undersecretary of economic development and playing a major … Continue reading “State Ethics Group Pushes Investigation of Biotech Council Head”
Author: Robert Buderi
Bob is Xconomy's founder and chairman. He is one of the country's foremost journalists covering business and technology. As a noted author and magazine editor, he is a sought-after commentator on innovation and global competitiveness. Before taking his most recent position as a research fellow in MIT's Center for International Studies, Bob served as Editor in Chief of MIT's Technology Review, then a 10-times-a-year publication with a circulation of 315,000. Bob led the magazine to numerous editorial and design awards and oversaw its expansion into three foreign editions, electronic newsletters, and highly successful conferences. As BusinessWeek's technology editor, he shared in the 1992 National Magazine Award for The Quality Imperative.
Bob is the author of four books about technology and innovation. Naval Innovation for the 21st Century (2013) is a post-Cold War account of the Office of Naval Research. Guanxi (2006) focuses on Microsoft's Beijing research lab as a metaphor for global competitiveness. Engines of Tomorrow (2000) describes the evolution of corporate research. The Invention That Changed the World (1996) covered a secret lab at MIT during WWII. Bob served on the Council on Competitiveness-sponsored National Innovation Initiative and is an advisor to the Draper Prize Nominating Committee. He has been a regular guest of CNBC's Strategy Session and has spoken about innovation at many venues, including the Business Council, Amazon, eBay, Google, IBM, and Microsoft.
Konarka Garners $45 Million in Financing—Prepares To Bring “Power Plastic” to Market
Konarka Technologies, a Lowell, MA, maker of nanotech-based solar materials, announced today that it had secured $45 million in private funding intended to accelerate development and commercialization of its organic photovoltaic products. Konarka’s materials, which convert light to electricity, are aimed at providing low-cost, renewable sources of power for everything from cell phone chargers to … Continue reading “Konarka Garners $45 Million in Financing—Prepares To Bring “Power Plastic” to Market”
Potentially Planted Evidence, Memory Lapses, and Unwanted Memorabilia: the Latest from the IRobot-Robotic FX Files
A feeling of being followed. A mysterious memory lapse. Beating U.S. Marshals to the scene of a search. Hints of a tampered-with car trunk and planted evidence. A company using a former employee (and potential competitor) as a consultant, perhaps without making him sign a confidentiality agreement. It just seems to get wilder and wilder. … Continue reading “Potentially Planted Evidence, Memory Lapses, and Unwanted Memorabilia: the Latest from the IRobot-Robotic FX Files”
Novartis-MIT Center Aims To Transform Drug-Manufacturing Process
Strengthening the ties to the world-class university science that spurred it to move its global research operations to Cambridge five years ago, pharmaceutical maker Novartis (NYSE: NVS) announced today that it has formed a 10-year, $65 million partnership with MIT. The funding will be used to create a new center aimed at transforming the way … Continue reading “Novartis-MIT Center Aims To Transform Drug-Manufacturing Process”
U.S. Cleantech Venture Deals Soar; A123 Tops New England List
U.S. venture capital firms poured money into clean technology startups in the first half of 2007, investing $892.6 million in 71 deals, a 70 percent jump from the $525 million put into 46 deals a year earlier, according to a report released yesterday by Dow Jones VentureOne and Ernst & Young. The funding surge helped … Continue reading “U.S. Cleantech Venture Deals Soar; A123 Tops New England List”
Targanta Therapeutics Sets IPO Terms—Could Make for Nice Comeback for Firm’s CEO
Targanta Therapeutics, a Cambridge biopharmaceutical company focused on developing antibiotics to combat serious infections, today set the terms of its impending IPO, announcing plans to sell 5.75 million shares of common stock at between $12 and $14 a share. In the mid-range of the pricing, after commissions, discounts, and other expenses, the company said it … Continue reading “Targanta Therapeutics Sets IPO Terms—Could Make for Nice Comeback for Firm’s CEO”
Getting Found in All the Right Places—Search Engine Marketing Networking Event
We didn’t have to search for this event—we got a tip from an attendee of a previous event. The SEMNE (Search Engine Marketing New England) mission is to provide networking and educational opportunities for search marketers in New England, “while having a little fun along the way.” The speaker at this get-together is Greg Jarboe, … Continue reading “Getting Found in All the Right Places—Search Engine Marketing Networking Event”
Robotic FX Founder Admits Destroying Data But Says Some Evidence Might Have Been Planted; Hearing Will Resume Monday
Citing fear and panic, Robotic FX founder Jameel Ahed yesterday acknowledged destroying CD-ROM disks and erasing the data from a laptop computer after iRobot filed lawsuits against him and his firm alleging theft of trade secrets. At the same time, he speculated that one item found by private detectives who were observing him “was possibly … Continue reading “Robotic FX Founder Admits Destroying Data But Says Some Evidence Might Have Been Planted; Hearing Will Resume Monday”
Judge Asks For More Information on Venue Issue in IRobot–Robotic FX Case
In an electronic order posted today, U.S. District Court Judge Nancy Gertner said more information was needed to support an argument by Robotic FX and the U.S. Attorney’s office that iRobot’s lawsuit against Robotic FX should be heard in another venue. The order gives Robotic FX until Friday to make its case for the change. … Continue reading “Judge Asks For More Information on Venue Issue in IRobot–Robotic FX Case”
Consumers Asked to Lend “$100 Laptop” Initiative A Hand
With early orders, principally from governments in developing nations, for its lime-green, crank-powered, and low-cost XO laptop computer running short of what’s needed to trigger mass production, the One Laptop Per Child project is today kicking off two initiatives that will allow paying consumers to purchase machines for the benefit of children in its target … Continue reading “Consumers Asked to Lend “$100 Laptop” Initiative A Hand”
Microsoft Hires Eons CTO to Start Lab Next Door to MIT
Microsoft has hired Eons chief technology officer and local software legend Reed Sturtevant to head a new development lab and innovation group that is expected to set up shop next door to the MIT campus. “That’s true,” said Sturtevant when I asked him about the lab in a telephone conversation this evening. “It’s starting Monday … Continue reading “Microsoft Hires Eons CTO to Start Lab Next Door to MIT”
U.S. Government Weighs in Against iRobot Request for Injunction Against Rival Firm
Declaring that “the lives of soldiers presently at war in Iraq and Afghanistan” could be placed in peril, the federal government has injected itself into the legal battle between iRobot and Robotic FX—asking a U.S. District Court judge in Massachusetts on the brink of this morning’s hearing not to let iRobot’s efforts to win a … Continue reading “U.S. Government Weighs in Against iRobot Request for Injunction Against Rival Firm”
Dumpster-Diving Detectives and Tales of Industrial Espionage: Court Filings Reveal Twists and Turns of iRobot-Robotic FX Case
The private detective took up position near the six-unit condominium building in Chicago shortly after noon. At 3:02 p.m. the white Saturn with Indiana plates he’d been waiting for appeared, stopping down the street near a rusty dumpster. The detective, Tomas Romano, snapped pictures as a man wearing a lime-green polo shirt got out of … Continue reading “Dumpster-Diving Detectives and Tales of Industrial Espionage: Court Filings Reveal Twists and Turns of iRobot-Robotic FX Case”
VCs in DC: Local Energy Investors Take A DOE Field Trip
It wasn’t a secret meeting, but it wasn’t widely publicized either. A small group of Boston-area venture capitalists, along with a few representatives of local energy-related enterprises, journeyed to the nation’s capital in late August for a two-day session with the Department of Energy’s Office of Energy Efficiency and Renewable Energy. They were part of … Continue reading “VCs in DC: Local Energy Investors Take A DOE Field Trip”
Silicon Valley East? New England Web 2.0 Firms Attracted $102 Million in Venture Funding in Year’s First Half, Beating Their Bay-Area Counterparts
Web 2.0 firms based in New England received nearly $102 million in venture capital funding in the year’s first half, the highest total of any region, including perennial leader the Bay Area. Such was the heady news (for defenders of Boston Web entrepreneurship) contained in a report released yesterday by Dow Jones VentureOne and Ernst … Continue reading “Silicon Valley East? New England Web 2.0 Firms Attracted $102 Million in Venture Funding in Year’s First Half, Beating Their Bay-Area Counterparts”
IRobot Stock Plummets on Word That Former Employee’s Firm Won $280 Million Military Contract
Shares of iRobot (NASDAQ: IRBT) fell sharply today after word spread that Alsip, IL-based Robotic FX—a rival firm led by a former iRobot employee—had beat the company out for a $280 million contract to provide improvised explosive devise (IED)-detection robots for the U.S. Army. Last month, iRobot filed a pair of lawsuits against Robotic FX, … Continue reading “IRobot Stock Plummets on Word That Former Employee’s Firm Won $280 Million Military Contract”
Extreme VC: The Tale of the Tacoda Tattoo
Some entrepreneurs complain that their venture-capital backers aren’t good for much beyond forking over the cash. But, of course, many VCs stand staunchly by their portfolio companies, joining them in the trenches when the going gets tough. And when Rich Levandov, a general partner of Cambridge-based Masthead Venture Partners, journeys to the Big Apple in … Continue reading “Extreme VC: The Tale of the Tacoda Tattoo”
Saying Bioenvision is Poised for a “Home Run,” Investor Files New Challenge to Genzyme Takeover Bid
New York-based Bioenvision today reported a big jump in revenues, and the leading minority shareholder opposed to the company’s proposed merger with Genzyme pointed to this surge as an indication Genzyme’s offer price far undervalues the company—and filed a letter with the SEC that showcases his strategy to block the deal. Steven Rouhandeh, chairman of … Continue reading “Saying Bioenvision is Poised for a “Home Run,” Investor Files New Challenge to Genzyme Takeover Bid”
EMC Facing Lawsuits Charging Bias Against Women
Data storage leader EMC (NYSE: EMC) came under heavy fire today amidst news that it was facing at least six sexual discrimination lawsuits filed since 2003 by women who previously worked in the company’s sales offices. A front-page story by William M. Bulkeley of the Wall Street Journal, drawn from the lawsuits and interviews with … Continue reading “EMC Facing Lawsuits Charging Bias Against Women”
Eons Announces Big Layoffs as Company Refocuses on Social Networking: “It Was Kind of Like Survivor.”
It was a dramatic, sobering, but ultimately healthy and air-clearing scene on Monday when Eons founder Jeff Taylor called together his remaining staff and engaged in a moment of remembrance for the 24 colleagues he had just laid off. That was the word from one of those present, a person who still has his or … Continue reading “Eons Announces Big Layoffs as Company Refocuses on Social Networking: “It Was Kind of Like Survivor.””
VC Varsity: The Best Athletes on Boston’s Private-Equity Circuit—the Roster
With the Sox driving for the World Series, the Pats early Super Bowl favorites, and the invigorated Celtics waiting in the wings to bring Beantown back to the NBA playoffs, Xconomy thought it was a fitting time to determine the best athletes amongst Greater Boston’s top private equity investors. You can read about the hunt … Continue reading “VC Varsity: The Best Athletes on Boston’s Private-Equity Circuit—the Roster”
VC Varsity: The Best Athletes on Boston’s Private-Equity Circuit
[Executive editor’s note: Bob’s about to wax philosophical about sports. It could take a while. To cut to the chase and see the roster, click here.] The hoops game is serious. Invitation only. Two “runs” a week, at 6 a.m.—when it can be tough to get the juices flowing. And if I told you the … Continue reading “VC Varsity: The Best Athletes on Boston’s Private-Equity Circuit”
Biogen Idec Shares Enjoy Nice Pop; Forget Rumors of Being Acquired, Company Hasn’t Given Up on a Major Acquisition of Its Own
Biogen Idec (NASDAQ: BIIB) stock surged nearly 6 percent yesterday, rising $3.66 to $66.53, as CEO Jim Mullen predicted strong growth throughout the decade at a major healthcare conference. But overshadowded by these main remarks was an interesting comment that Mullen made about Biogen’s future acquisition plans. Yesterday I wrote about Mullen’s talk at the … Continue reading “Biogen Idec Shares Enjoy Nice Pop; Forget Rumors of Being Acquired, Company Hasn’t Given Up on a Major Acquisition of Its Own”
Bullish Biogen Idec CEO Forecasts 15 Percent Revenue Growth While Fending Off Talk of Icahn Plans
Riding a year of solid earnings and strong stock market gains, Biogen Idec CEO James Mullen today provided an upbeat outlook for the next few years, basically saying the good times for the biotech company were far from over. Foreseeing vigorous international expansion and a healthy pipeline that would enable Biogen (NASDAQ: BIIB) to expand … Continue reading “Bullish Biogen Idec CEO Forecasts 15 Percent Revenue Growth While Fending Off Talk of Icahn Plans”
IRobot Founder to be Inducted into Women’s Technology Hall of Fame
We’ve all clapped robotically at some boring function or other. Now it’s time to clap for a roboticist. Helen Greiner, chairman and co-founder of iRobot and a charismatic champion of a new generation of commercial and military robots, will be inducted into the Women in Technology International (WITI) Hall of Fame, the professional group announced … Continue reading “IRobot Founder to be Inducted into Women’s Technology Hall of Fame”
Clean Energy Market Research and News Site Launches
It’s not every day a digital media news site opens in Kendall Square. But lately it seems like it’s every month or two. In yet another sign of the explosion of activity in the clean-energy sector, Greentech Media—a Cambridge-based market research, news, and events company devoted to alternative energy investment and technology information—announced its launch … Continue reading “Clean Energy Market Research and News Site Launches”
Happy Labor Day! We’re De-laboring. As Xconomy Completes Its Second Month, Here are Some Things You Might Have Missed
Xconomy has just wrapped up its second month of covering the New England business, technology, and innovation scene. The paparazzi have thinned out. The VCs still aren’t throwing money at us (repeat after me, “It’s not a venture deal.”). But we have secured our funding, and we’ve had a lot of fun, met a multitude … Continue reading “Happy Labor Day! We’re De-laboring. As Xconomy Completes Its Second Month, Here are Some Things You Might Have Missed”
CEO Tucci and Other EMC Execs Also Sell Shares in Firm
New filings posted at the SEC show that several more key officials of EMC (NYSE: EMC)—including CEO and chairman Joe Tucci—have exercised options and/or sold shares of the company’s stock. Two days ago, we reported that six key company officials, including five executive vice presidents, had sold shares last Friday in what appeared to be … Continue reading “CEO Tucci and Other EMC Execs Also Sell Shares in Firm”
Six EMC Executives Exercise Options Worth $25 Million
In what appears to be a routine exercise of stock options, six EMC executives, including five executive vice presidents, sold shares of company stock worth more than $25 million on Friday, SEC documents registered yesterday reveal. In addition, EMC chief executive officer Joe Tucci entered into a pre-arranged trading plan to exercise a small amount … Continue reading “Six EMC Executives Exercise Options Worth $25 Million”
Wharton Professor Tapped as New Sloan School Dean; First Outsider in 40 Years—the Inside Reaction
For the first time in more than 40 years, MIT’s Sloan School of Management has reached outside its own ranks to pick a dean, tapping the deputy dean of the University of Pennsylvania’s prestigious Wharton School to help expand its reach. The new Sloan leader will be 52-year-old David C. Schmittlein, a longtime professor of … Continue reading “Wharton Professor Tapped as New Sloan School Dean; First Outsider in 40 Years—the Inside Reaction”
Carl Icahn: Biogen Idec Marriage Broker?
It’s no secret that major pharmaceutical makers are desperate to fill their thinning drug pipelines. Biotech companies like Biogen Idec, though not without their own pipeline concerns, have products to offer. So it might be reasonable to conclude that Big Pharma would pay a premium for biotech firms—and that major investors like Carl Icahn are … Continue reading “Carl Icahn: Biogen Idec Marriage Broker?”
Icahn Gets Okay to Purchase Biogen Idec Shares
Biogen Idec shares (NASDAQ: BIIB) hit a one-year high yesterday after billionaire investor and occasional corporate raider Carl Icahn was cleared by U.S. antitrust authorities to buy shares in the corporation. The stock closed Friday at $62.89, up $2.92 (nearly 5 percent) for the day. The news came barely a week after Icahn revealed he … Continue reading “Icahn Gets Okay to Purchase Biogen Idec Shares”
USS Grunion Found: Boston Scientific Founder and Brothers Locate Father’s Lost WWII Sub in Aleutians
The blogosphere and newswires are alive this morning with news that a team led by brothers John, Bruce, and Brad Abele have located their father’s submarine, the USS Grunion, which had been lost in the Aleutians during World War II. The following notice appears on the Grunion blog: “Just got the first set of 8 … Continue reading “USS Grunion Found: Boston Scientific Founder and Brothers Locate Father’s Lost WWII Sub in Aleutians”
Former Bioenvision Exec Sues for $108 Million; Genzyme Biding Its Time on Takeover
For anyone who’s been following Genzyme’s attempted merger with New York-based biotech firm Bioenvision (NASDAQ: BIVN), one phrase likely comes to mind: What a mess. Here’s a quick summary of what we’ve covered so far (the related posts list at right pretty much has everything): Individual shareholder protest. Merger rejected. CEO and other execs cash … Continue reading “Former Bioenvision Exec Sues for $108 Million; Genzyme Biding Its Time on Takeover”
Entrepreneur Segways Toward Medical Revolution Directing Genomics X Prize
The Segway Personal Transporter was perched just inside the Starbucks door at the Kendall Square Marriott. Truth be told, I didn’t notice it going in, but I pretty much had to going out, because the person I’d just spent the last hour with unlocked the transporter, wheeled it outside, then tooled down the street beside … Continue reading “Entrepreneur Segways Toward Medical Revolution Directing Genomics X Prize”
Metacafe Scores $30 million in Round Led by Highland—Online Video Top 10
Unless you’ve been in retreat the last few years, you’re probably well aware of the meteoric rise of YouTube. And indeed, the pioneering online video site easily ranks as the dominant player in the field, with more than three times the market share of No. 2, the Avis of online video, MySpaceTV. But what a … Continue reading “Metacafe Scores $30 million in Round Led by Highland—Online Video Top 10”
No Headache for NeurAxon: Company Closes $32 Million Financing Round
Sheesh—so many stories are breaking today I’m getting a headache. I guess it’s good news for me that Waltham, MA-based drugmaker NeurAxon—whose leading product candidate is aimed at migraines—just secured $32 million in a Series B financing. The round was led by New York-based OrbiMed Advisors and Delphi Ventures of Menlo Park, CA. All the … Continue reading “No Headache for NeurAxon: Company Closes $32 Million Financing Round”
Special Vote Called for on Genzyme’s Takeover Bid for Bioenvision: Is a Deal in the Works?
Things seem to be moving again with Genzyme’s so-far-stymied attempts to take over New York-based Bioenvision (NASDAQ: BIVN). A little after four in the afternoon on Friday, Bioenvision’s lawyers made an SEC filing calling for a meeting to vote on the proposed merger. The document, which did not specify a date for the special session, … Continue reading “Special Vote Called for on Genzyme’s Takeover Bid for Bioenvision: Is a Deal in the Works?”
New England Colleges Riding High in U.S. News Rankings—A Few Observations
The U.S. News & World Report list of the best American colleges came out this weekend, with the print edition hitting newsstands this morning. This year, New England’s top schools are once again atop the list (not quite at the top, because Princeton holds the number one spot, a position it has held outright or … Continue reading “New England Colleges Riding High in U.S. News Rankings—A Few Observations”
Keeping Biogen Idec Innovative: Jim Mullen Interview (Part 2)
Jim Mullen is being a little reflective. A CEO’s job goes through a couple of phases as a company grows, he says. “The first bridge you walk over is the day that you don’t know the name of everybody in the company. Once that day happens, suddenly all the very informal interactions, they just have … Continue reading “Keeping Biogen Idec Innovative: Jim Mullen Interview (Part 2)”
The State of Biotechnology, According to Biogen Idec CEO Jim Mullen
It was a sunny, steamy morning last week when I elevatored upstairs at Biogen Idec’s Kendall Square headquarters to interview CEO James Mullen—and I sat right down in the hot seat. Literally. Mullen awaited in a big-windowed conference room; I perched with my back to the sun and instantly started baking. Mullen smiled. Did the … Continue reading “The State of Biotechnology, According to Biogen Idec CEO Jim Mullen”
VMware Still Soaring; EMC Trails
The Dow is flat today, but VMware (NYSE: VMW) is skyrocketing. A day after its debut at $50 a share (a whopping 72 percent premium over what it was priced at by parent EMC), the stock was up another nearly $9 a share this afternoon, to $59.00. Parent company EMC (NYSE: EMC) is inching higher, … Continue reading “VMware Still Soaring; EMC Trails”
Eons Founder Stirs the Crowd at CEO Breakfast
I spent three hours this morning chatting with some 30-odd other entrepreneurs at a fascinating CEO breakfast get-together put on by local networking guru Trudy Kightley. I counted folks from at least seven countries, working in biotechnology, medical devices, web video, speech, robotics, and a lot more—just the kind of hodgepodge of backgrounds and expertise … Continue reading “Eons Founder Stirs the Crowd at CEO Breakfast”
EMC Stock Follows VMware Up—Still “Insanely Cheap?”
Last week, we posted a piece on EMC (NYSE: EMC) raising the price of the planned IPO of its virtualization subsidiary VMware. Well, with the summer’s hottest IPO slated for tomorrow, we have to note that EMC’s own share price is climbing today. As of now, it is trading at $18.87 a share, up $1.15 … Continue reading “EMC Stock Follows VMware Up—Still “Insanely Cheap?””
A123 Inks Deal to Develop Battery Cells for GM Electric Car
A123 Systems just landed a promising deal with General Motors to co-develop the battery cell for the automaker’s Chevrolet Volt line of electric cars and other vehicles. GM Vice Chairman Bob Lutz made the announcement yesterday during a speech in Michigan. Under the deal, Watertown, MA-based A123 will co-develop the lithium-ion battery for GM’s E-Flex … Continue reading “A123 Inks Deal to Develop Battery Cells for GM Electric Car”
VMware IPO Price Going Up, Up, Up
We’ve offered several takes in recent weeks on the upcoming VMware public offering and how EMC—which is spinning off about 10 percent of its California “virtualization” subsidiary via the IPO—seems to have hit the perfect storm of timing and opportunity. Well, if you wanted more evidence of how hot the offering is, all that’s necessary … Continue reading “VMware IPO Price Going Up, Up, Up”
Xconomy Completes Series A Financing—Founders Swear Staff Will Be Paid
“Quick, the bank closes at 5:30.” “Did anybody actually count the money yet?” “Now can I have a drink?” Such were the words of dignity and calm that emanated from 10 Rogers Street in Cambridge late yesterday afternoon—the lawyers had just couriered over a manila envelope full of checks, marking the close of Xconomy’s Series … Continue reading “Xconomy Completes Series A Financing—Founders Swear Staff Will Be Paid”
MIT Professor Explains Resignation, Charging “Unconscious Discrimination Against Minorities”
There’s an interesting discussion going on at The Scientist‘s website about discrimination in academia, and particularly at MIT. The conversation was sparked by an essay written by Frank Douglas, formerly Professor of the Practice at MIT and director of the school’s Center for Biomedical Innovation. Douglas, who is black, resigned last June in the wake … Continue reading “MIT Professor Explains Resignation, Charging “Unconscious Discrimination Against Minorities””
VCs Making More Deals, For Fewer Dollars
More venture capital deals, particularly early-stage deals, but fewer dollars. This was the bottom line highlighted in today’s MoneyTree report on venture capital covering the second quarter of 2007. The report showed a nationwide 15.6 percent rise in deals—from 845 to 977—in Q2 compared to Q1. At the same time, investment fell from $7.4 billion … Continue reading “VCs Making More Deals, For Fewer Dollars”
BG Medicine Files for $80 Million IPO
BG Medicine, a molecular diagnostics company based in Waltham, MA, announced today that is planning an IPO on Euronext Amsterdam under the symbol “BGMDX.” The registration statement that BG filed with the SEC said the company would seek to raise up to $80 million through the offering, though it didn’t specify the number of shares … Continue reading “BG Medicine Files for $80 Million IPO”