Author: Ryan McBride

Ryan is an award-winning business journalist who contributes to our life sciences and technology coverage. He was previously a staff writer for Mass High Tech, a Boston business and technology newspaper, where he and his colleagues won a national business journalism award from the Society of American Business Editors and Writers in 2008. In recent years, he has made regular TV appearances on New England Cable News. Prior to MHT, Ryan covered the life sciences, technology, and energy sectors for Providence Business News. He graduated with honors from the University of Rhode Island in 2001 with a bachelor’s degree in communications. When he’s not chasing down news, Ryan enjoys mountain biking and skiing in his home state of Vermont.

CardiAQ Captures $6.5M A Round Led by Former CoreValve President

[Updated and clarified—1/12/10, 2:30 pm ET, with timing of potential human study and other details] CardiAQ Valve Technologies, which is developing a catheter-based alternative to open-heart surgery for mitral valve implantation, reports today that it has raised $6.5 million in a Series A round of funding. The funding is expected to support R&D needed to … Continue reading “CardiAQ Captures $6.5M A Round Led by Former CoreValve President”

Molecular Biometrics Scores $12.5M Second Round, Aims to Help IVF Users Avoid Octomom’s Fate

[Clarification—1/12/10, 1 pm ET] Nadya Suleman, aka the Octomom, grabbed headlines this time last year when she gave birth to octuplets conceived through in vitro fertilization (IVF). Now, Molecular Biometrics is grabbing venture dollars for technology that could help other IVF users avoid a similar fate. The Norwood, MA-based firm raised $12.5 million in a … Continue reading “Molecular Biometrics Scores $12.5M Second Round, Aims to Help IVF Users Avoid Octomom’s Fate”

Charles River Labs to Cut 300 Jobs

Charles River Laboratories International (NYSE:[[ticker:CRL]]) announced today that it plans to suspend operations at its Shrewsbury, MA, facility by mid-2010, reacting to a slowdown in demand for its preclinical testing services. The Wilmington, MA-based contract research company told the online publication Mass Device that it would let go nearly 300 workers in its preclinical business. … Continue reading “Charles River Labs to Cut 300 Jobs”

AcadiaSoft Finds $4M

AcadiaSoft, which makes software for managing derivative investments, has raised $4 million in equity financing, according to an SEC filing. The Pembroke, MA-based startup told Mass High Tech that the investors in the financing included large financial institutions such as HSBC Holdings and ICAP, both of which are based in London, and New York-based JP … Continue reading “AcadiaSoft Finds $4M”

Virtify Reports $15M in A Round

Virtify, a provider of Web-based document management software for life sciences firms, has secured $15 million in an offering of Series A convertible preferred stock, according to an SEC filing. There are eight investors in the round, according to the filing, but the Cambridge, MA-based firm hasn’t yet identified them, and neither company CEO Satish … Continue reading “Virtify Reports $15M in A Round”

Former Idera Pharma CEO at Helm of AesRx, New Startup With Sickle Cell Drug

Stephen Seiler has been hunting for cash to advance an experimental therapy for sickle cell disease into initial human studies. And the veteran biotech executive, the former CEO of Cambridge, MA-based Idera Pharmaceuticals (NASDAQ:[[ticker:IDRA]]), has founded a startup in Newton, MA called AesRx to carry out his goal. Seiler said he has provided an undisclosed … Continue reading “Former Idera Pharma CEO at Helm of AesRx, New Startup With Sickle Cell Drug”

The Boston Deals You Missed During the Holidays: Cash for Kala Pharma, Funds for ViewFinity, Silver for SCVNGR, & More

Feeling a bit out of the loop on the New England tech and life sciences news? Don’t fret. We’ve compiled the Boston-area deals you may have missed during the last couple of weeks of 2009. There were enough of them to indicate that tech lawyers and execs were quite busy over the break. —Waltham, MA-based … Continue reading “The Boston Deals You Missed During the Holidays: Cash for Kala Pharma, Funds for ViewFinity, Silver for SCVNGR, & More”

BSX Pays $22M in DOJ Settlement

Boston Scientific (NYSE:[[ticker:BSX]]) said yesterday that it has agreed to pay $22 million in a settlement related to a U.S. Department of Justice investigation of surveys conducted by the Natick, MA-based medical device firm’s subsidiary, Guidant. The company admitted no wrongdoing in the settlement. Reuters reported that the DOJ was investigating Guidant for paying doctors … Continue reading “BSX Pays $22M in DOJ Settlement”

Novexel Offers Exit to Atlas and Abingworth

Atlas Venture and Abingworth Management, two venture firms with local offices in Waltham, MA, are in line to exit their investments in French antibiotics developer Novexel, which announced yesterday it would be acquired by London-based drug giant AstraZeneca in a $505 million deal. AstraZeneca has agreed to pay $350 million in cash for all shares … Continue reading “Novexel Offers Exit to Atlas and Abingworth”

Readers’ Picks for 2009: Terrafugia’s Maiden Flight, Kindle 2 Taps E Ink, Follica’s War on Baldness, & More

For the second year straight, our readers have made stories about the biotech startup Follica’s plans to treat baldness, Terrafugia’s street-legal aircraft, and the nonprofit One Laptop Per Child Foundation among Xconomy Boston’s five most popular posts for the year. What conclusions can we draw from this? Well, none. But I’ll speculate that some stories, … Continue reading “Readers’ Picks for 2009: Terrafugia’s Maiden Flight, Kindle 2 Taps E Ink, Follica’s War on Baldness, & More”

HyperMed Files for Chapter 11 Bankruptcy

Burlington, MA-based medical devices firm HyperMed has filed for Chapter 11 bankruptcy and ceased operations, the Boston Business Journal reports today. The weekly business newspaper, citing bankruptcy filings from Massachusetts District Court, wrote that the company has $2.4 million in debts and $1.1 million in assets. The startup had been marketing a device that used … Continue reading “HyperMed Files for Chapter 11 Bankruptcy”

Joule Biotechnologies Picks Site For Pilot Ethanol Plant in the Desert

Joule Biotechnologies has been busy since we last spoke to the company’s leadership around the time it first started talking publicly in July. The Cambridge, MA-based company, which develops fuels and chemicals in a process that mimics photosynthesis, has been advancing toward commercialization. I got the update from Bill Sims, the firm’s CEO. For starters, … Continue reading “Joule Biotechnologies Picks Site For Pilot Ethanol Plant in the Desert”

GI Dynamics Gets European Approval

GI Dynamics has garnered European marketing approval for its temporary intestinal implant for treating Type 2 diabetes and obesity, according to the Lexington, MA-based firm. The company said it plans to begin selling the device, called the EndoBarrier, in Europe in the first half of 2010. The firm’s venture backers include Advanced Technology Ventures, Catalyst … Continue reading “GI Dynamics Gets European Approval”

Javelin Pharma Agrees to Merger with Myriad Pharma

Cambridge, MA-based Javelin Pharmaceuticals (AMEX:[[ticker:JAV]]) has agreed to be acquired by Myriad Pharmaceuticals (NASDAQ:[[ticker:MYRX]]) of Salt Lake City in an all-stock merger, the companies reported last week. The merger agreement would initially give Javelin shareholders control of 41 percent of the stock in the combined company and up to 45 percent ownership of the merged … Continue reading “Javelin Pharma Agrees to Merger with Myriad Pharma”

Aveo Pharmaceuticals Eyes $86.3M IPO

Aveo Pharmaceuticals indicated late yesterday that it wants to take the plunge into the public markets, filing papers with the SEC to raise up to $86.25 million in an initial public offering. It’s a brave move, considering that public markets have been stingy to biotech firms seeking IPOs in recent years. The Cambridge, MA-based company … Continue reading “Aveo Pharmaceuticals Eyes $86.3M IPO”

Acceleron Pharma Reports $10.9M Financing

Acceleron Pharma, the Cambridge, MA-based developer of biotech drugs for anemia, bone loss, and other ailments, reports in an SEC filing that it has raised $10.9 million in equity financing. The funding includes an $8 million investment that Cambridge-based biotech Alkermes (NASDAQ:[[ticker:ALKS]])made as part of a licensing deal Luke reported early this month, as well … Continue reading “Acceleron Pharma Reports $10.9M Financing”

Advanced Cell Technology Betting Future on Embryonic Stem Cell Therapy for Eye Disease

Advanced Cell Technology is banking on an experimental cellular therapy for a rare eye disease to show the world that controversial embryonic stem cells have a place in treating diseases. Amid serious financial constraints at the Worcester, MA-based biotech firm (OTCBB[[ticker:ACTC]]), a plan is in place to pioneer the use of cellular therapies made with … Continue reading “Advanced Cell Technology Betting Future on Embryonic Stem Cell Therapy for Eye Disease”

Biogen Prepared for Proxy Battle for Facet Biotech

Cambridge, MA-based Biogen Idec told investors today that it’s willing to wage a proxy battle to take control of the board of Facet Biotech, which it has been trying to acquire without success since September. Biogen (NASDAQ:[[ticker:BIIB]]) said that it would run a proxy contest to take a majority of seats on the board of … Continue reading “Biogen Prepared for Proxy Battle for Facet Biotech”

PatientKeeper Collects $13M Funding, Puts VC Chip Hazard on Board

PatientKeeper is developing software for physicians that will help them comply with planned federal guidelines for the use of electronic medical records. And the Newton, MA-based firm says today that it’s raised $13 million in debt and equity funds to cover the costs of updating its products and supporting business growth. The equity portion of … Continue reading “PatientKeeper Collects $13M Funding, Puts VC Chip Hazard on Board”

Nasuni Starts with $8M A Round

Nasuni, a Natick, MA-based startup developing a cloud storage product, reports this morning that it’s raised $8 million in a Series A financing from North Bridge Venture Partners and Sigma Partners. The founders of the stealthy company are CEO Andres Rodriguez and Robert Mason, both of whom are former executives of a Massachusetts-based online storage … Continue reading “Nasuni Starts with $8M A Round”

Shire Making Lemonade with Genzyme’s Lemons

Shire, the British drugmaker with a big presence in Massachusetts, has seen its fortunes rise during this year of manufacturing woes over at Cambridge, MA-based Genzyme. Shire (LON: [[ticker:SHP]]) doesn’t yet have regulatory approval to market two treatments for genetic diseases that will rival Genzyme, but U.S. regulators have allowed the company to go ahead … Continue reading “Shire Making Lemonade with Genzyme’s Lemons”

Caliper Sells XenBio for $11M

Caliper Life Sciences, a Hopkinton, MA-based provider of life sciences research products and services, said today that it has sold its small animal services business, Xenogen Biosciences (XenBio), to the laboratory rodent provider Taconic Farms for about $11 million. Taconic, headquartered in Hudson, NY, is also becoming the distributor of Caliper’s transgenic rodents that can … Continue reading “Caliper Sells XenBio for $11M”

Cubist to Acquire Calixa Therapeutics in Deal Worth up to $402.5M

Lexington, MA-based Cubist Pharmaceuticals says today that it’s inked a deal to buy fellow antiobiotic drug developer Calixa Therapeutics, of San Diego, for $92.5 million upfront and up to $310 million more in potential payments to Calixa shareholders. Calixa—which Luke profiled back in March after it cleared a key safety study for one of its … Continue reading “Cubist to Acquire Calixa Therapeutics in Deal Worth up to $402.5M”

Fina Tech Finds $4.5M A Round

[Updated and corrected: 11:06 Eastern, 12/17/09] Fina Technologies, a Cambridge, MA-based startup with computer-modeling software for the financial services industry, said today it has raised $4.5 million in a Series A round of venture capital. Reed Elsevier Ventures led the round, which included an investment from Excel Venture Management. Fina is a spinout of Cambridge-based … Continue reading “Fina Tech Finds $4.5M A Round”

LifeImage Raising $2M-Plus in Oversubscribed Round, CEO Says

LifeImage has advanced quickly since forming late last year. There are at least several hospitals or hospital systems using the startup’s software, which enables physicians to share digital radiology images within their facilities and with doctors at outside clinics via the Internet. And the Newton, MA-based firm expects to secure more than $2.1 million in … Continue reading “LifeImage Raising $2M-Plus in Oversubscribed Round, CEO Says”

EnerNOC Buys California Competitor

EnerNOC, a Boston-based provider of software and services that help large organizations to reduce their electricity usage, reports today that it has acquired California-based Cogent Energy. EnerNOC (NASDAQ:[[ticker:ENOC]]) says that Cogent’s technology is well suited for the needs of smaller facilities than EnerNOC typically serves, expanding the market of potential customers for the buyer. Financial … Continue reading “EnerNOC Buys California Competitor”

$3.2M Pours on Parasol Therapeutics

Parasol Therapeutics, a Cambridge, MA-based developer of treatments and diagnostics for influenza and other viruses, has raised $3.2 million in debt and equity financing, according to an SEC filing. Parasol, which Xconomy reported has previously raised $3.5 million in seed financing, is developing new therapies for flu based on discoveries in the MIT lab of … Continue reading “$3.2M Pours on Parasol Therapeutics”

Sermo Cutting 30 Workers, Source Says

Sermo, the company that created the country’s largest online community of doctors, informed about 30 workers this morning that they will be laid off, according to a source familiar with the matter. The source says that the company employed 60 to 80 people prior to the cutbacks. We reported that layoffs were coming in our … Continue reading “Sermo Cutting 30 Workers, Source Says”

.406 Ventures Backs WellAware

Boston-based .406 Ventures is investing in WellAware Systems’ new $7.5 million round of financing, the Charlottesville, VA, startup reports. The company has developed integrated sensors and software designed to help healthcare providers monitor senior patients. Valhalla Partners, of Vienna, VA, joined .406 (which is named after the record-setting batting average of the late and great … Continue reading “.406 Ventures Backs WellAware”

Hydro-Photon Finds $2M for Light-Based Water Purification Biz

Hydro-Photon, the Maine-based maker of handheld devices that use ultraviolet light to purify water, has raised just shy of $2 million in equity, according to an SEC filing. This will put more capital behind the firm’s product, called the “SteriPEN,” which looks like the hunting knife version of a lightsaber. But this handheld device is … Continue reading “Hydro-Photon Finds $2M for Light-Based Water Purification Biz”

Mersana Therapeutics Advancing Anti-Tumor Treatment with Novel Drug-Delivery Technology

Mersana Therapeutics is picking up momentum, thanks to the positive data its first anti-cancer drug is generating in a Phase I clinical trial. The study is providing evidence that the Cambridge, MA-based firm’s drug delivery technology works in humans. The startup’s “Fleximer” technology—which uses sugar-derived polymers to deliver treatments into cells—has the potential to rescue … Continue reading “Mersana Therapeutics Advancing Anti-Tumor Treatment with Novel Drug-Delivery Technology”

Sermo Changes Strategy to Gain More Pharma Business, CEO Declines to Discuss Layoff Talk

Sermo, provider of the nation’s largest online community of doctors, has had a tough year in getting financial services firms to pay for access to its physician network and has decided to shift its strategy more toward serving drug and medical devices manufacturers, CEO Daniel Palestrant tells Xconomy. The change comes amid talk of layoffs … Continue reading “Sermo Changes Strategy to Gain More Pharma Business, CEO Declines to Discuss Layoff Talk”

Biogen Fattens Offer to Buy Facet Biotech

Cambridge, MA-based Biogen Idec reports today that it’s upping its bid to buy Facet Biotech by 21 percent, after the smaller firm’s board rejected Biogen’s earlier buyout offer in October. Biogen (NASDAQ:[[ticker:BIIB]]) said it would pay $17.50 per share in cash for Redwood City, CA-based Facet, valuing the company at about $438.7 million, and increasing … Continue reading “Biogen Fattens Offer to Buy Facet Biotech”

Aura, MicroCHIPS, Boston-Power, & Other Hot Local Startups Join the World Economic Forum’s Technology Pioneers

A handful of startups from the Boston area are joining an exclusive club today. The World Economic Forum—the Swiss nonprofit that has previously honored such companies as Cambridge, MA-based biotech Alnylam Pharmaceuticals (NASDAQ:[[ticker:ALNY]]), PayPal, and Google (NASDAQ:[[ticker:GOOG]])—has named six local companies to its prestigious annual list of Technology Pioneers, the organization announced this morning. The … Continue reading “Aura, MicroCHIPS, Boston-Power, & Other Hot Local Startups Join the World Economic Forum’s Technology Pioneers”

$2M for VisibleGains

VisibleGains (fka PermissionTV), a Waltham, MA, provider of interactive online video technology for the B2B market, has raised $2 million in a new financing deal, according to an SEC filing. Company CEO Cliff Pollan told Xconomy that his firm was raising money from its previous backers Point Judith Capital and Castile Ventures in October, when … Continue reading “$2M for VisibleGains”

Ignition in $1.1M Fotopedia Deal

Fotonauts, a France-based provider of a Wikipedia-inspired online photo encyclopedia called Fotopedia, has raised $1.1 million in an equity financing, according to an SEC filing. TechCrunch reports that Ignition Partners, of Bellevue, Paris-based Banexi Ventures Partners, and company co-founder and former Apple executive Jean-Marie Hullot invested in the round. Ignition partner Brad Silverberg is on … Continue reading “Ignition in $1.1M Fotopedia Deal”

Quick Take: Novartis Vaccine Chief Andrin Oswald on Swine Flu and Vaccine Business

It’s been a year since Andrin Oswald took over as CEO of Novartis Vaccines and Diagnostics, the 5th-largest vaccine business in the world, headquartered right here in Cambridge, MA. I met up with Oswald before he gave a keynote speech at a recent MIT Enterprise Forum event, and he took a few minutes to give … Continue reading “Quick Take: Novartis Vaccine Chief Andrin Oswald on Swine Flu and Vaccine Business”

Zorap Takes $1.35M in Equity

Zorap, a provider of online video chat room software, has raised $1.35 million of a planned $1.9 million round of equity financing, according to an SEC filing. The Falmouth, ME-based startup, founded in 2007, has now raised nearly $2 million from undisclosed angel investors, the company’s CEO and co-founder Barry Spencer told Mass High Tech. … Continue reading “Zorap Takes $1.35M in Equity”

Genzyme Resumes Shipments of Gaucher’s Drug from Allston Plant

Genzyme (NASDAQ:[[ticker:GENZ]]) says today that it has begun shipments of its best-selling drug for Gaucher’s disease made at its plant in the Allston neighborhood of Boston. There have been shortages of the drug since the firm halted production at the Allston plant in June, when viral contamination was discovered there. The Cambridge, MA-based biotech is … Continue reading “Genzyme Resumes Shipments of Gaucher’s Drug from Allston Plant”

Genzyme Competitor Lands Pfizer Deal

Israel-based Protalix Biotherapeutics (NYSE:[[ticker:PLX]]) said today it has struck a deal with drug giant Pfizer to develop and market Protalix’s experimental Gaucher’s disease drug, taliglucerase alfa. The drug, which the FDA has granted a fast-track process for potential approval, poses a threat to Cambridge, MA-based biotech Genzyme’s (NASDAQ:[[ticker:GENZ]]) market-leading Gaucher’s treatment, imiglucerase (Cerezyme), which has … Continue reading “Genzyme Competitor Lands Pfizer Deal”

Tech Executive Pay Raises Way Down, New Study Says

Technology executive pay raises in 2009 have taken their biggest nosedive of the past decade, according to a new compensation study. The study, which polled privately held firms from around the U.S., indicates that the current economic downturn has had a more drastic impact on executive pay than the period after the dot-com bubble burst. … Continue reading “Tech Executive Pay Raises Way Down, New Study Says”

Guardium Head Count Could Grow Under IBM Ownership, Big Blue Exec Says

Guardium, the Waltham, MA-based provider of database security software, is the latest Massachusetts company to be gobbled up by technology giant IBM, according to the companies. And Big Blue could grow the company here in the Bay State as it aims to increase its revenue from sales of software. Armonk, NY-based IBM (NYSE:[[ticker:IBM]]) announced today … Continue reading “Guardium Head Count Could Grow Under IBM Ownership, Big Blue Exec Says”