Stories of drugmakers, deals, health IT companies, and even some nonprofits made it a busy life sciences news week for us. —Waltham’s Avila Therapeutics is on a quest to outdo well-known Boston drugmaker Vertex Pharmaceuticals when it comes to treating hepatitis C, Luke wrote last week. The company’s drugs rely on forming covalent bonds to … Continue reading “Avila Sets Out to Take on Vertex, CombinatoRx Nails FDA Approval, Millipore Opts for Merck KGaA over Thermo Fisher, & More Boston-Area Life Sciences News”
Author: Erin Kutz
Erin Kutz has a background in covering business, politics and general news. She holds a bachelor’s degree in journalism from Boston University. Erin previously worked in the Boston bureau of Reuters, where she wrote articles on the investment management and mutual fund industries. While in college, she researched for USA Today reporter Jayne O’Donnell’s book, Gen Buy: How Tweens, Teens and Twenty-Somethings Are Revolutionizing Retail. She also spent a semester in Washington, DC, reporting Capitol Hill stories as a correspondent for two Connecticut newspapers and interning in the Money section of USA Today, where she assisted with coverage on the retail and small business beats. Erin got her first taste of reporting at Boston University’s independent student newspaper, as a city section reporter and fact checker and editor of the paper’s weekly business section.
$2B Bid for Novell
Novell has received an unsolicited offer from one of its largest stockholders to acquire all of the Waltham, MA-based network software maker’s outstanding shares for $5.75 a share, the company confirmed in a press release. The bid from Elliott Associates, which owns 8.5 percent of Novell common stock, represents a 49 percent premium over Novell’s … Continue reading “$2B Bid for Novell”
Marathon and Zafgen Add to Series B Rounds, Athenahealth and Sermo Announce Partnership, Sensata Sets IPO Terms, & More Boston-Area Deals News
Early round venture funding dominated the deals news this week, but there were still announcements of partnerships, acquisitions, and IPOs to mix it up. —Newton, MA-based energy storage company General Compression announced it had closed more than $17 million in commitments to its Series A round, but did not reveal how much of that money … Continue reading “Marathon and Zafgen Add to Series B Rounds, Athenahealth and Sermo Announce Partnership, Sensata Sets IPO Terms, & More Boston-Area Deals News”
$5.4M for Desktone
Desktone, a maker of virtual desktop software, has raised $5.4 million out of a nearly $12.2 million equity offering, an SEC filing revealed today. The Chelmsford, MA-based company didn’t immediately respond to a request for confirmation on what round the financing represents, but the filing notes that 15 investors have participated. In 2007, Desktone closed $17 million … Continue reading “$5.4M for Desktone”
TransMedics Wraps Up $35.4M
TransMedics, an Andover, MA, developer of systems for transporting organs for transplant, has pulled in $35.4 million in an equity offering that includes about $9 million from convertible debt, according to an SEC filing. Partners of Flagship Ventures, Foundation Capital, and Kleiner Perkins Caufield & Byers are listed as directors on the filing, which the … Continue reading “TransMedics Wraps Up $35.4M”
Monster and Eons Founder Jeff Taylor Starts Incubator as Protest to Startups Fleeing Boston
Monster.com and Eons.com founder Jeff Taylor thinks entrepreneurs are bluffing when they cite Boston’s harsh winter weather as the reason for fleeing the city for operations elsewhere, such as California’s Silicon Valley. “The real objection is that it’s hard to get discovered in Boston, and that our resource-rich community feels like it’s locked behind closed … Continue reading “Monster and Eons Founder Jeff Taylor Starts Incubator as Protest to Startups Fleeing Boston”
Sensata Sets IPO Terms
Sensata Technologies, a maker of sensors and switches headquartered in Attleboro, MA, has set its initial public offering of 31.6 million shares at $18 to $20 a share, according to a filing with the SEC. Sensata Technologies Holding, a public limited liability company incorporated in the Netherlands, is offering 26.3 million shares, and selling shareholders … Continue reading “Sensata Sets IPO Terms”
With VCs Ready to Hold Office Hours For Entrepreneurs, Venture Café Gets a Test Drive
For most entrepreneurs, a beta stage or beta product is a crucial way to flesh out new ideas, and find out what works and what doesn’t for their business. And it’s no different for a new endeavor meant to create community and dialog between entrepreneurs and investors in the Boston area. That endeavor would be … Continue reading “With VCs Ready to Hold Office Hours For Entrepreneurs, Venture Café Gets a Test Drive”
Under the Radar Deals: 10 Northwest Financings You Might Not Have Heard Of
Unlike the retail industry, Northwest startups pulled in a fair amount of cash in January. Venture investing jumped from $22 million in December to $57 million in the first month of 2010. But there’s another layer of data that further attests to the state of financing in the startup landscape. That would be last month’s … Continue reading “Under the Radar Deals: 10 Northwest Financings You Might Not Have Heard Of”
Intrinsic Therapeutics Grabs $18M
Spinal implant developer Intrinsic Therapeutics has pulled in $18 million of a $20 million mixed offering of equity, options, and warrants, according to a filing with the SEC. Existing Intrinsic investors New Enterprise Associates, Spray Venture Partners, and New Leaf Venture Partners are listed as directors on the filing. The Woburn, MA-based company, which produces … Continue reading “Intrinsic Therapeutics Grabs $18M”
Under the Radar in January: A Baker’s Dozen of New England Startup Financings Worth $1M or Less
Earlier this month, we wrote about some of the mammoth venture deals that helped add up to $355 million worth of investments in Massachusetts startups in January. But don’t think we’ve forgotten about the little guys. These are what we call our under-the-radar deals, typically worth between $100,000 and $1 million (though the January list … Continue reading “Under the Radar in January: A Baker’s Dozen of New England Startup Financings Worth $1M or Less”
New CEO for Magellan Biosciences
Diagnostics company Magellan Biosciences announced today it has appointed a new president and CEO, Hiroshi Uchida. Most recently serving as executive VP, CTO, and a member of the board of directors of blood transfusion technology company Fenwal, Uchida said he plans to improve partnerships and accelerate investments in development projects for Chelmsford, MA-based Magellan, which … Continue reading “New CEO for Magellan Biosciences”
BiddingForGood Aims to Streamline Donation Requests and Boost Charity Auction Pool
Jon Carson describes the newest offering on his website, BiddingForGood.com, as the idea he is most proud of in his “entire startup life.” “It solves a real problem. It makes something efficient,” says Carson, whose previous entrepreneurial efforts include a keg delivery startup he ran while at Babson College, and FamilyEducation Network, a Web portal … Continue reading “BiddingForGood Aims to Streamline Donation Requests and Boost Charity Auction Pool”
Sirtris Founders Resurface with New Fund, Icahn Continues to Make Biotech Waves, Sentillion Bought by Microsoft, & More Boston-Area Life Sciences News
Despite the Presidents Day holiday, it’s been a big life sciences week for us. —A new venture fund is being assembled by the founders of Cambridge, MA-based Sirtris Pharmaceuticals, a developer of treatments for aging-related diseases that went to GlaxoSmithKline for more than $700 million in 2008. Christoph Westphal, Michelle Dipp, and Rich Aldrich have … Continue reading “Sirtris Founders Resurface with New Fund, Icahn Continues to Make Biotech Waves, Sentillion Bought by Microsoft, & More Boston-Area Life Sciences News”
North End Raises $2.5M, Converts $1.8M of Debt
Robotics and communications startup North End Technologies has raised $2.5 million in new funding and converted $1.8 million in preexisting debt to equity, said company CEO Brad Kayton. The new funding came from previous investors Waltham, MA-based Castile Ventures, company executives, and angel investors, and will be used to take the stealthy Nashua, NH-based company’s … Continue reading “North End Raises $2.5M, Converts $1.8M of Debt”
Nuance Acquires MacSpeech
Nuance Communcations (NASDAQ: NUAN), a Burlington, MA-based voice and imaging software company, has acquired a maker of speech recognition software for Apple’s Macintosh computers, MacSpeech, the company announced today. The acquisition of Salem, NH’s MacSpeech will extend Nuance’s Dragon NaturallySpeaking product line, which translates voice to text, as a native Mac application. Nuance has also … Continue reading “Nuance Acquires MacSpeech”
$140M for New MPM BioVentures Fund
Boston-based MPM Capital, an investment firm focused on life sciences companies, has raised $140 million for its fifth BioVentures fund, according to regulatory filings. Earlier reports pegged the deal at $69.1 million, but the company amended its original filing this afternoon to indicate the higher total. The firm declined to comment further on the new … Continue reading “$140M for New MPM BioVentures Fund”
NEXX Systems Files for IPO
Billerica, MA-based NEXX Systems, a manufacturer of semiconductor equipment, has filed for an initial public offering that could be worth as much as $42 million. The filing lists the company’s top stakeholders as Enterprise Partners, Sigma Partners, and NEXX chairman Richard Post. Canaccord Adams and CIBC will co-lead the undewriting for the IPO; the price and … Continue reading “NEXX Systems Files for IPO”
Excelimmune Raises $1M
Excelimmune, a Woburn, MA developer of human antibody-based therapies, announced that it has raised $1 million in Series B funding from a group of existing and new investors. The funding will go to research for its first drug candidate, Staphguard, designed to treat methicillin-resistant staph infections. Greenheart was the sole investor in Excelimmune’s 2007 Series A … Continue reading “Excelimmune Raises $1M”
ARC Energy Raises $5M
Advanced RenewableEnergy Company, a Nashua, NH maker of equipment for growing and processing the sapphire crystals used in LEDs, has raised $5 million of a $10 million equity round, according to an SEC filing. The filing lists Hemant Taneja, managing director of Cambridge, MA-based General Catalyst Partners, as a director of the stealthy ARC Energy.
Paragon Lake, Out to Ring in a New Era of Jewelry Customization, Changes Name to Gemvara and Shifts Focus to the Web
Paragon Lake, a jewelry virtualization and customization company, is looking to add a new layer of sparkle to its business. It’s renaming itself Gemvara and revamping its business model to to focus on allowing customers to personalize jewelry pieces directly from their own computers and not from computer stations inside retail stores as it had … Continue reading “Paragon Lake, Out to Ring in a New Era of Jewelry Customization, Changes Name to Gemvara and Shifts Focus to the Web”
Happy 2010: Bay State Startups Ring in the New Year with $355M in January Venture Funding
Apparently, Massachusetts venture investors aren’t like most American consumers in January, when purse strings tighten and spending comes to a halt following the previous month’s holiday shopping excesses. By contrast, they significantly upped their investments in the state’s tech and life sciences startups, investing $355.2 million across 28 equity deals, according to information provided by … Continue reading “Happy 2010: Bay State Startups Ring in the New Year with $355M in January Venture Funding”
Cheers to the Environment: PurposeEnergy Aims to Make Brewing More Sustainable
When Eric Fitch decided to start his own company a few years back after working on a string of other startups, he knew clean energy was the way to go. “I couldn’t escape the gravity of this renewable energy thing,” he says. He thought the industrial and manufacturing arenas would be the best targets, as … Continue reading “Cheers to the Environment: PurposeEnergy Aims to Make Brewing More Sustainable”
Yes We Have a Winner from Last Night’s Battle, and No, It’s Not What You Would Expect
We know, we’ve been holding out on you. But don’t worry, we do plan to reveal the winners of last night’s Battle of the Tech Bands 3, for those of you who couldn’t make it. The evening saw a great turnout of people representing all facets of the tech, life sciences, and venture communities here … Continue reading “Yes We Have a Winner from Last Night’s Battle, and No, It’s Not What You Would Expect”
ATG Prices 25M Share Stock Offering
Art Technology Group (NASDAQ: ARTG), an e-commerce software and service company in Cambridge, MA, announced its plans to sell 25 million shares of common stock at $3.50 a share in an underwritten public offering. Morgan Stanley and Deutsche Bank Securities will serve as underwriters for the deal, and will have the 30-day option to purchase … Continue reading “ATG Prices 25M Share Stock Offering”
See You Tonight at Battle of the Tech Bands: Come for Boston!
It’s been a busy week covering venture deals, IPOs, and all the iPad fallout fit to print, so we’re ready to release by defending our East Coast honor tonight at the Battle of the Tech Bands. This will be the third year we’ve hosted the showdown between bands from area tech companies, but will be … Continue reading “See You Tonight at Battle of the Tech Bands: Come for Boston!”
$9M for Syndax Pharmaceuticals
Syndax Pharmaceuticals, a Waltham, MA-based developer of cancer therapies, has pulled in $9 million of a planned $16 million in a mixed offering of equity, options, and warrants, according to an SEC filing. Syndax’s past investors include Domain Associates and MPM Capital, which led a $40 million Series A round in 2007. The company launched … Continue reading “$9M for Syndax Pharmaceuticals”
1366 Technologies Wraps Up $5.2M
1366 Technologies, a Lexington, MA-based company developing more efficient photovoltaic panels, has raised a $5.2 million Series B round from North Bridge Venture Partners and Polaris Venture Partners, says company president Frank van Mierlo. An SEC filing puts the total offering amount for the round at $6.2 million, but van Mierlo says the round closed … Continue reading “1366 Technologies Wraps Up $5.2M”
RainDance Hires New CEO
RainDance Technologies, a Lexington, MA-based microfluidics company, has appointed Sirshendu Roopom Banerjee as its new president and CEO, the company announced today. Banerjee most recently served as director of healthcare investment banking at Leerink Swann and succeeds RainDance CEO Christopher McNary, who has taken the position of chief commercial officer at the company.
Informal Incubators: Startup Workspaces Sprouting Up in Unlikely Places (Including an Expelled MIT Frat House)
When Mahmoud Arram looked around last spring to move his web startup Sponty from his apartment to a real, live office space (to better accommodate the interns he needed to hire), he sought three things: a door that closed, lots of whiteboard space, and “access to really smart people.” “It’s good to be able to … Continue reading “Informal Incubators: Startup Workspaces Sprouting Up in Unlikely Places (Including an Expelled MIT Frat House)”
All Eyes On Ironwood IPO, Icahn Seeks Biogen Board Seats, Boston Scientific Settles with J&J, & More Boston-Area Life Sciences News
So there was good news and bad news for the New England life sciences community in the past week, but industry watchers this week are all waiting to see how the Ironwood IPO story plays out. —Billionaire investor Carl Icahn and his associates notified Cambridge, MA-based Biogen Idec (NASDAQ:[[ticker:BIIB]]) of their plans to nominate three … Continue reading “All Eyes On Ironwood IPO, Icahn Seeks Biogen Board Seats, Boston Scientific Settles with J&J, & More Boston-Area Life Sciences News”
BlueKai Pulls in $21M Series C Round to Enable Targeted Web Ads
BlueKai, a Bellevue, WA-based Internet data exchange company that connects companies with information on the behavior of their customers, has wrapped up a $21 million Series C funding round, the company announced today. New investor GGV Capital (formerly Granite Global Ventures) led the round, which also included previous BlueKai investors Battery Ventures and Redpoint Ventures. … Continue reading “BlueKai Pulls in $21M Series C Round to Enable Targeted Web Ads”
Prism’s Will Kohler to Join Summerhill Venture Partners, Doubling Firm’s Boston Headcount
Prism VentureWorks principal Will Kohler will join Summerhill Venture Partners as a general partner later this month, doubling the Toronto-headquartered firm’s Boston-area headcount as part of an effort to expand its investments in the Northeast, according to Summerhill managing partner Gary Rubinoff. “We’re doing a lot of deals in the Northeast it makes sense to … Continue reading “Prism’s Will Kohler to Join Summerhill Venture Partners, Doubling Firm’s Boston Headcount”
Polatis Raises $1.2M
Andover, MA-based Polatis, a producer of optical switch technology for data centers and network hosting locations, has raised $1.2 million of a $2.5 million equity round, according to a filing with the SEC. The filing does not specifically name investors, but partners at Cambridge, MA-based Flagship Ventures and Chicago-based JK&B Capital are among those listed … Continue reading “Polatis Raises $1.2M”
Announcing Boston Battle of the Tech Bands Door Prizes: Reasons (Other than Regional Pride) to Attend Xconomy’s Bicoastal Showdown
For the past two years, Xconomy has invited bands from Boston area companies to submit their music files to a select panel of judges to compete for the right to take the stage at our Battle of the Tech Bands, but this year we’ve added a twist. Rather than go through the selection process, we’ve … Continue reading “Announcing Boston Battle of the Tech Bands Door Prizes: Reasons (Other than Regional Pride) to Attend Xconomy’s Bicoastal Showdown”
Landslide Gets $8M and New CEO
Landslide Technologies, a customer relationship management software company with offices in Burlington, MA, and Pittsburgh, PA, announced today that it has raised $8 million in growth capital and hired a new president and CEO, Rick Faulk, the former CEO of web-based social media and training software company Mzinga. Faulk left Burlington-based Mzinga last March, just … Continue reading “Landslide Gets $8M and New CEO”
Under the Radar Deals: 11 Northwest Startup Financings from December Worth $1M or Less
As you may have noticed, we here at Xconomy look at startups’ financing as signs of what companies or industries are making a big impact on innovation in the region. Just last week we reported on the major equity investments in Northwest startups in December, tracked by our partner ChubbyBrain, a New York-based information services … Continue reading “Under the Radar Deals: 11 Northwest Startup Financings from December Worth $1M or Less”
Under the Radar Deals: 20-Something New England December Financings Worth $1M or Less
We recently summarized the major December equity investments in Massachusetts’ tech and life sciences startups, but the New England region also had some more pint-sized deals worth noting. They’re between $100,000 and $1 million—what we like to call the under-the radar-deals tracked by our partner, New York-based ChubbyBrain, an information services company developing tools for … Continue reading “Under the Radar Deals: 20-Something New England December Financings Worth $1M or Less”
VideoIQ Raises $6M
Bedford, MA-based VideoIQ, which creates surveillance cameras designed to streamline the capture of suspicious activity, closed a $6 million equity round, according to an SEC filing. Atlas Venture and Matrix Partners, both of Waltham, MA, are listed on the filing as investors, alongside Lehman Brothers Venture Partners. VideoIQ, profiled by Xconomy in 2008, aims to … Continue reading “VideoIQ Raises $6M”
$12M for Unidesk
Marlborough, MA-based Unidesk, a stealth-mode company that provides virtual desktop management solutions, has raised $12 million in new equity financing, according to an SEC filing. North Bridge Venture Partners and Matrix Partners, both of Waltham, MA, are listed as company investors on Unidesk’s website. Unidesk was founded in 2007.
Thinking Phone Calls in $1.2M
Cambridge, MA-based Thinking Phone Networks, a developer of hosted customer communication and relationship management platforms, has raised $1.17 million of a $1.67 million round of equity mixed with options and warrants, an SEC filing shows. President and CEO Steven Kokinos told Mass High Tech that the funding comes from Capstone Partners, a Boston investment bank, … Continue reading “Thinking Phone Calls in $1.2M”
Bluesocket Wraps Up $8M
Bluesocket, a Burlington, MA-based developer of mobile access and security products, has raised $8 million in equity-based financing, according to an SEC filing. The company, whose products include a virtual wireless LAN technology, declined to provide further details on the equity round. Bluesocket’s Bay State investors include Vesbridge Partners, Ascent Venture Partners, Ironside Ventures, and … Continue reading “Bluesocket Wraps Up $8M”
SmartEquip Raises $18M
SmartEquip, a Norwalk, CT-based provider of software solutions in parts, service, and product support for the construction equipment industry, has raised $18 million of a $20.5 million round of equity and security, according to an SEC filing. This comes after a $1.5 million Series C round SmartEquip raised in 2002, with Connecticut Innovations and Next … Continue reading “SmartEquip Raises $18M”
Lumigent Closes $3M from North Bridge
Lumigent Technologies, an Acton, MA-based company that produces automated governance, risk and compliance software, announced that it has closed $3 million in funding from Waltham, MA-based North Bridge Venture Partners. The new Lumigent funding comes on top of a $6 million Series A funding round from North Bridge, secured in January 2009, a company spokeswoman said.
HLM Venture Partners Closes $65M Round for Third Fund
Boston-based HLM Venture Partners has closed a $65 million first fundraising round for its third fund, Dow Jones VentureWire reported today. The firm, which focuses on investments in medical-device firms and healthcare information technology and services, hopes to raise a total of $200 million for its HLM Venture Partners III LP fund. The first round, … Continue reading “HLM Venture Partners Closes $65M Round for Third Fund”
Venture Investors Spread Holiday Cheer to Mass. Startups in December: Companies Wrap Up $224 Million in Funding
Santa was good to the Massachusetts high-tech economy in December. Very good. Roughly $224 million poured into the state’s startups in 36 equity deals, representing 20 percent more money and more than 50 percent more deals than Bay State startup companies saw in November. And November venture funding-22 deals worth $186 million-was nothing to scoff … Continue reading “Venture Investors Spread Holiday Cheer to Mass. Startups in December: Companies Wrap Up $224 Million in Funding”
Gryphon Networks Adds $7 Million
Gryphon Networks, a Norwood, MA, telecommunications and marketing services company, raised $7 million in a Series C venture funding round, according to an SEC filing. The funds come from Waltham, MA-based Symmetric Capital and include a combination of cash and stock from Gryphon’s Series A and Series B rounds, says Gryphon CFO Eric Bornhofft. The … Continue reading “Gryphon Networks Adds $7 Million”
A123 to Invest $23M in Fisker and Supply Batteries for Company’s Hybrid Car
A123Systems, a Watertown, MA-based battery maker, announced today it will invest up to $23 million in Irvine, CA startup Fisker Automotive, in addition to supplying the batteries for the company’s luxury hybrid car, due to launch in late 2010. Fisker’s Karma Plug-in Hybrid Electric Vehicle (PHEV) has a range of 50 full-electric miles on a single … Continue reading “A123 to Invest $23M in Fisker and Supply Batteries for Company’s Hybrid Car”
Bringing Order to the Address Book, Sensobi Targets Underserved Blackberry Mobile App Customers
You’ve been scrolling through your phone’s address book for minutes now just to find the coworker you call the most. Because his name falls at the end of the alphabet, he’s buried behind dozens of other entries, many of whom you probably haven’t called in years. Shouldn’t a smart phone be smarter about managing your … Continue reading “Bringing Order to the Address Book, Sensobi Targets Underserved Blackberry Mobile App Customers”