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.

Heartland Robotics Lands $7M, Gloucester Pharma Gets $29M, Biopure Auctioned Away for $4M, & More Boston Deals News

There were good, bad, and ugly deals in New England’s technology and life sciences sectors this past week. Yet there are more highlights and lowlights. You can judge under which of those three categories (good, bad, ugly) the following deals fall: —Wade did some digging in the SEC database last Friday to report that Cambridge, … Continue reading “Heartland Robotics Lands $7M, Gloucester Pharma Gets $29M, Biopure Auctioned Away for $4M, & More Boston Deals News”

Daktari Diagnostics and BL Healthcare Find Early Investors: More Signs of Life for Medtech Startups

Here are two reasons to believe that there are investors out there willing to make a bet on your young startup: BL Healthcare and Daktari Diagnostics, both of which reported in SEC documents over the past few days that they’ve raised private capital. Formed last year, Daktari appears to be the younger of the two … Continue reading “Daktari Diagnostics and BL Healthcare Find Early Investors: More Signs of Life for Medtech Startups”

A123Systems Wanted for Huge Grid Battery

Rosemead, CA-based utility Southern California Edison wants A123Systems to build the world’s largest lithium-ion grid storage battery for a substation in the Tehachapi Mountains of southern California to stabilize the flow wind power, Greentech Media reported today. The report says that the utility is asking for a $25 million grant from the Department of Energy … Continue reading “A123Systems Wanted for Huge Grid Battery”

Massachusetts Battery Firms A123Systems and Boston-Power Taking Different Roads to Auto Market

The automotive segment of the battery market is expected to skyrocket in the coming years, as eco-friendly vehicles that rely heavily on battery power hit the road in greater numbers than ever before. And Massachusetts advanced battery developers A123Systems and Boston-Power are among many firms eying this lucrative market. But the two companies are at … Continue reading “Massachusetts Battery Firms A123Systems and Boston-Power Taking Different Roads to Auto Market”

North Bridge Adds General Partner

Technology veteran Jim Moran has joined North Bridge Venture Partners, of Waltham, MA, as a general partner, the venture firm announced today. Moran was previously CEO of Covergence, a Maynard, MA, provider of telecommunications software, which was acquired by Burlington, MA-based software firm Acme Packet (NASDAQ:[[ticker:APKT]]) in May for a reported $22.8 million. North Bridge, … Continue reading “North Bridge Adds General Partner”

MyWebGrocer, A Survivor of the Online Grocery World, Plots Growth Strategy with iPhone Apps

The online grocery business famously flamed out earlier this decade, after hundreds of millions of dollars were pumped into companies like HomeGrocer.com and Webvan. But online grocery sales and advertising have been making a comeback in recent years, and one of the industry survivors, MyWebGrocer, based in Colchester, VT, has raised a healthy $13 million … Continue reading “MyWebGrocer, A Survivor of the Online Grocery World, Plots Growth Strategy with iPhone Apps”

How NaviNet Built the Country’s Largest Healthcare Communications Network

If you’ve never heard of NaviNet, the builder of what the company claims is the nation’s largest real-time healthcare communications network, then the Cambridge, MA-based firm bears most of the responsibility, says company CEO Brad Waugh. The 11-year-old firm spent its first 10 years building the network and its customer base, and over the past … Continue reading “How NaviNet Built the Country’s Largest Healthcare Communications Network”

Boston-Area Tech Layoffs Slow: A Recap of Summer’s Job Cuts at Analog Devices, CombinatoRx, and Other Firms

If you’re fortunate enough to be gainfully employed, you may have joined the droves of other Boston-area innovators who have headed for the Cape, the White Mountains, or another summertime retreat in recent months. Or perhaps you’ve been busy looking for your next career challenge. Either way, with Labor Day fast approaching, we thought it’d … Continue reading “Boston-Area Tech Layoffs Slow: A Recap of Summer’s Job Cuts at Analog Devices, CombinatoRx, and Other Firms”

Fashion Playtes Raises $1.5M, Plans Fall Launch

Fashion Playtes, a Salem, MA-based provider of a website where girls can design their own cloths and fashion accessories, has raised $1.5 million in a Series A round of financing led by LaunchCapital and New Atlantic Ventures, according to a press release. Both investment firms have offices in Cambridge, MA. The startup says that its … Continue reading “Fashion Playtes Raises $1.5M, Plans Fall Launch”

Constellation Pharma Hires New CEO, Collects Last $17M of its Series A Financing

Constellation Pharmaceuticals is on a mission to discover the next generation of cancer drugs by tapping the science of “epigenetics.” The Cambridge, MA-based biotech startup said today that a veteran physician and executive has come aboard to helm the effort, and the firm’s investors have handed over $17.2 million to support the cause. New Constellation … Continue reading “Constellation Pharma Hires New CEO, Collects Last $17M of its Series A Financing”

$252M Potential in CLDA and CombinatoRx Deal

Cambridge, MA-based drug developer CombinatoRx (NASDAQ:[[ticker:CRXX]]) has licensed a compound from Clinical Data (NASDAQ:[[ticker:CLDA]]), of Newton, MA, to develop a combination treatment for multiple myeloma and other B-cell cancers, according to a press release. Clinical Data is eligible for up to $252 million in milestone fees from CombinatoRx and royalty payments on potential drug sales.

Momenta Pharma Competitor Lodges Ethics Complaint Against FDA Boss, WSJ Reports

A story in the Wall Street Journal today about an ethics complaint against a top official at the FDA has brought new attention to Cambridge, MA-based Momenta Pharmaceuticals’ effort to win approval of its generic version of a multibillion-dollar blood thinner. The WSJ reports that Amphastar Pharmaceuticals, of Rancho Cucamonga, CA, is alleging that Momenta … Continue reading “Momenta Pharma Competitor Lodges Ethics Complaint Against FDA Boss, WSJ Reports”

MyWebGrocer Wraps Up $13M Investment

Colchester, VT-based MyWebGrocer, a provider of online commerce software and digital media services for grocery stores and consumer goods companies, announced on its website yesterday that it has raised $13 million in equity financing from New York, NY, investment firm Stripes Group. Stripes Group managing partner Dan Marriott is taking a seat on the company’s … Continue reading “MyWebGrocer Wraps Up $13M Investment”

Javelin Pharma Stock Takes Hit

Javelin Pharmaceuticals’s stock had lost more than a quarter of its value as of late this morning. This comes on the heels of the Cambridge, MA-based drug developer (AMEX:[[ticker:JAV]]) announcing this morning that its late-stage clinical of intranasal ketamine (Ereska) showed “borderline” statistical improvement over placebo in treating pain after orthopedic surgery. According to Google … Continue reading “Javelin Pharma Stock Takes Hit”

$2.6M Financing for Imaginatik

Imaginatik, a provider crowdsourcing software for large businesses, said yesterday that it has raised $2.6 million from unnamed new and previous investors. The firm (AIM:[[ticker:IMTK]]) has main offices in Boston and Winchester, United Kingdom, according to its website. The company said the funding will bankroll its growth plans and further development of enterprise crowdsourcing software, … Continue reading “$2.6M Financing for Imaginatik”

Connective Orthopaedics Wants to Improve ACL Surgeries, Taps Boston Celtics CEO as Director

Sports fans know how a knee injury ruined the last season for beloved New England Patriots quarterback Tom Brady, and many other athletes before him. Now Connective Orthopaedics , a Waltham, MA, medical devices startup, is quietly researching new products that could potentially improve recoveries for people after they undergo knee surgery. Connective CEO Dean … Continue reading “Connective Orthopaedics Wants to Improve ACL Surgeries, Taps Boston Celtics CEO as Director”

Biotech Startup Acetylon Pharma Catches $7.25M in A Round from Backers Such As New England Patriots Owner

[Correction appended—08/11/09] Acetylon Pharmaceuticals is unveiling its technology today after closing a $7.25 million Series A round of financing to develop novel drugs to treat multiple myeloma and rheumatoid arthritis, according to the company. Many of the startup’s backers have close ties to the Dana-Farber Cancer Institute in Boston—including the company that owns the NFL’s … Continue reading “Biotech Startup Acetylon Pharma Catches $7.25M in A Round from Backers Such As New England Patriots Owner”

Elan Hits Biogen Idec with Lawsuit to Protect Tysabri Deal with J&J

Relations appear to be increasingly strained between Biogen Idec (NASDAQ:[[ticker:BIIB]]) and the Irish drug company Elan, its partner for the distribution and development of the multiple sclerosis drug natalizumab (Tysabri). Elan said today that it has filed suit against Biogen over the Cambridge, MA-based biotech firm’s objections to Elan’s deal announced last month with affiliates … Continue reading “Elan Hits Biogen Idec with Lawsuit to Protect Tysabri Deal with J&J”

Alnylam and Tekmira Seek New Ways to Deliver RNAi Drugs Deep in the Body

(Updated: 1:20 pm ET with new commentary from Alnylam’s CEO.) Alnylam Pharmaceuticals and Tekmira Pharmaceuticals announced today that they have teamed up to develop new particles to deliver RNA-interference drugs. Their joint effort aims to identify new ways to overcome the hurdles that the gene-modulating drugs must clear to reach diseased cells deep in the … Continue reading “Alnylam and Tekmira Seek New Ways to Deliver RNAi Drugs Deep in the Body”

A123Systems Wins $249M Piece of DOE Grants

A123Systems, the Watertown, MA-based developer of advanced lithium-ion battery systems, appears to be figuring hugely into President Obama’s plans to nurture U.S. development and manufacturing of electric-powered vehicles and cutting edge batteries. The company announced today that it has won a $249 million grant from the U.S. Department of Energy and plans to use the … Continue reading “A123Systems Wins $249M Piece of DOE Grants”

Cash Running Low at Altus Pharma

Waltham, MA-based biotech firm Altus Pharmaceuticals (NASDAQ:[[ticker:ALTU]]) ended the second quarter of 2009 with $8.1 million in cash, enough money to continue operations into September 2009, the company revealed yesterday.  “As a result of our current cash position and in order to continue operating the company, Altus needs to raise additional capital before the end … Continue reading “Cash Running Low at Altus Pharma”

Iron Mountain Reveals $450M Notes Offering

Iron Mountain (NYSE:[[ticker:IRM]]), a Boston-based provider of information storage and protection products, announced today a proposed $450 million notes offering. The notes to be sold in the public offering are due by 2021, and the proceeds will be used in combination with the company’s other funds toward the redemption of certain senior subordinated notes due … Continue reading “Iron Mountain Reveals $450M Notes Offering”

Genzyme’s Mozobil Gets European Approval

Cambridge, MA-based biotech Genzyme (NASDAQ:[[ticker:GENZ]]) reports that the firm has won European marketing approval for plerixafor (Mozobil) for injection in patients with two types of blood cancers—lymphoma and multiple myeloma—who need blood-forming stem cell transplants. The European Commission granted approval of plerixafor to be used in combination with granulocyte-colony stimulating factor (G-CSF) to boost the … Continue reading “Genzyme’s Mozobil Gets European Approval”

OurStage Act Gaining Partnership Audience Amid Economic Downturn

Chelmsford, MA-based OurStage, which runs monthly contests where bands upload their music and videos to its website to compete for cash and other prizes, is among a number of Web startups in the Boston area that cater to music fans and bands. But the company has also managed to attract a paying corporate audience—providing a … Continue reading “OurStage Act Gaining Partnership Audience Amid Economic Downturn”

Ligand Pharma and Organon to End Collaboration

San Diego-based Ligand Pharmaceuticals (NASDAQ:[[ticker:LGND]]) said today that the firm and Dutch drug company NV Organon have opted to end their collaboration and license agreement related to drug research in multiple fields. Organon is ending research funding for the collaboration on Dec. 31, 2009. The agreement was originally struck in early 2007 between Organon—which later … Continue reading “Ligand Pharma and Organon to End Collaboration”

Vertex Grabs $105M in Amended Telaprevir Deal with Mitsubishi

Vertex Pharmaceuticals (NASDAQ:[[ticker:VRTX]]) is making its second move this month to raise non-dilutive cash from its previous agreements to commercialize its experimental hepatitis C drug telaprevir. The Cambridge, MA-based firm said this morning that it will receive an upfront sum of $105 million from Mitsubishi Tanabe Pharma in an amended deal between the two companies … Continue reading “Vertex Grabs $105M in Amended Telaprevir Deal with Mitsubishi”

Genzyme Hit with Shareholder Suit, Herald Reports

The Boston Herald reports that an investor in Genzyme (NASDAQ:[[ticker:GENZ]]) has filed a securities lawsuit against the Cambridge, MA-based biotech powerhouse. The daily tabloid writes that the suit, filed by Florida resident Jon Rahn, claims that Genzyme took “too long” to disclose issues that federal regulators found last fall at its drug-production facilities in Boston … Continue reading “Genzyme Hit with Shareholder Suit, Herald Reports”

Forma and Novartis Form Cancer Drug Collaboration

Forma Therapeutics, a Cambridge, MA-based biotech firm, said this morning that it has landed a drug-discovery collaboration with Swiss drug giant Novartis. Novartis, which has previously invested in Forma through its Novartis Option Fund, is tapping the biotech startup to apply its cell-based screening platform to discover inhibitor treatments that target protein-to-protein interactions in cancer. … Continue reading “Forma and Novartis Form Cancer Drug Collaboration”

Joule Biotechnologies, Developer of Solar Fuel, Launches with Visions of U.S. Energy Independence

Joule Biotechnologies is officially launching today to reveal technology that is designed to mimic photosynthesis to produce liquid fuels and chemicals. The startup says it can produce ethanol at prices competitive with fossil fuels while avoiding some of the pitfalls of making ethanol with corn, switch grass, or other plant materials. The firm says its … Continue reading “Joule Biotechnologies, Developer of Solar Fuel, Launches with Visions of U.S. Energy Independence”

New England Venture Activity Rebounds Slightly in Q2—Region’s Top 10 Deals List

New England companies raised more venture dollars and completed more VC deals in the second quarter of 2009 than they did in the first three months of this year, according to two reports on venture investment activity released recently. Still, the total number of deals and capital invested in the region during the three months … Continue reading “New England Venture Activity Rebounds Slightly in Q2—Region’s Top 10 Deals List”

Replacing Phil Sharp Will Be Up to Biogen’s Board

Famed scientist Phil Sharp’s retirement from the board of directors at Biogen Idec (NASDAQ:[[ticker:BIIB]]) leaves the board without what was perhaps its leading scientific voice, but his departure doesn’t leave activist investor Carl Icahn with much of an opening to seize greater control over the company. When I reported last week that Sharp had stepped … Continue reading “Replacing Phil Sharp Will Be Up to Biogen’s Board”

Novartis Extends Alnylam Deal

Cambridge, MA-based Alnylam Pharmaceuticals (NASDAQ:[[ticker:ALNY]]) says that Swiss drug giant Novartis has opted to extend the companies’ research collaboration related to RNA interference treatments for a fifth year. The extension means that Novartis will continue to fund certain research and development efforts at Alnylam through October 2010. “We view this development as very positive for … Continue reading “Novartis Extends Alnylam Deal”

Biotech Pioneer Phillip Sharp Retires from Biogen Idec Board

Phillip Sharp, the MIT biologist and geneticist who co-founded Biogen Idec (NASDAQ:[[ticker:BIIB]]) in 1978, has retired from the biotech powerhouse’s board of directors, according to a company statement issued this morning. Sharp, 65, has served as a director of Biogen since 1982. During his tenure on the Cambridge, MA-based company’s board, Biogen has evolved from … Continue reading “Biotech Pioneer Phillip Sharp Retires from Biogen Idec Board”

Of Phase Forward, MedVentive, and iMedX—Today’s New England Heath IT Deals Round-Up

[Updated at 5 pm ET on 7/16/09. Editor’s note appended] We came across a trio of healthcare IT deals this morning, which seems to be a bit more than usual even in New England, so we thought we’d provide a snapshot of each of the deals. This activity could be chalked up to the intense … Continue reading “Of Phase Forward, MedVentive, and iMedX—Today’s New England Heath IT Deals Round-Up”

GreenRay Sees Green in $2M A Round

Westford, MA-based startup GreenRay has raised $2 million in a Series A round of venture capital to advance its plans to commercialize its plug-and-play solar panels, according to an announcement this morning. Venture firm Quercus Trust, of Newport Beach, CA, led the first-round financing, which included co-investor 21Ventures, based in New York. GreenRay, which has … Continue reading “GreenRay Sees Green in $2M A Round”

Oscient Pharma Seeks Bankruptcy, Finds Buyer for No. 2 Product

Oscient Pharmaceuticals has apparently run short on options to keep its struggling drug business afloat. The Waltham, MA-based biotech firm (NASDAQ:[[ticker:OSCI]]) and its subsidiary Guardian II Acquisition Corporation have each filed for Chapter 11 bankruptcy protection and Oscient has landed a buyer for one of its two marketed products, Oscient announced late yesterday. The company … Continue reading “Oscient Pharma Seeks Bankruptcy, Finds Buyer for No. 2 Product”