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.

Clarus Backs Michigan Biotech

Clarus Ventures, a Cambridge, MA-based venture firm, has co-led a $10 million closing of Series A round of financing for biotech startup Lycera, of Ann Arbor, MI, according to the company. Lycera—which is developing chemical drugs for autoimmune diseases based on discoveries at the University of Michigan and New York University School of Medicine—says that … Continue reading “Clarus Backs Michigan Biotech”

FDA Allows High-Yield Tysabri Production

Cambridge, MA-based biotech firm Biogen Idec (NASDAQ:[[ticker:BIIB]]) says that the FDA has approved a high-yield process for making multiple sclerosis drug natalizumab (Tysabri). This process for making natalizumab, an antibody drug that Biogen co-markets with Irish drug company Elan, was also approved by the European Medicines Agency in December 2008. Biogen plans to use the … Continue reading “FDA Allows High-Yield Tysabri Production”

Polaris Venture Partners Backing MIT Chemist’s “Solar Fuel” Startup

(Update: this story was updated at 10:15 a.m. today with additional financial information on Sun Catalytix.) Yes, that’s solar fuel. MIT chemistry professor Daniel Nocera has been widely lauded for developing a breakthrough technology that could harness the energy of the sun to provide a clean source of fuel. Xconomy has now learned that Polaris … Continue reading “Polaris Venture Partners Backing MIT Chemist’s “Solar Fuel” Startup”

Infinity Pharma Lead Cancer Drug Trial Halted, Ends in Failure

Infinity Pharmaceuticals’ (NASDAQ:[[ticker:INFI]]) lead cancer drug has crashed and burned in a late-stage clinical trial for treating relapsed forms of malignant stomach tumors, after interim results showed that more patients were dying when taking the drug than those who weren’t on the drug, the company reports. The decision to halt the Phase III “RING” trial … Continue reading “Infinity Pharma Lead Cancer Drug Trial Halted, Ends in Failure”

Synageva BioPharma Nabs $30M

Synageva BioPharma, a Waltham, MA-based biotech firm with research and manufacturing operations in Athens, GA, says that it has closed a $30 million private equity financing and expects to raise more money in the weeks ahead. Baker Brothers Investments, a heathcare investment firm, led the financing, which included contributions from investment funds Tullis Dickerson and … Continue reading “Synageva BioPharma Nabs $30M”

A123Systems Gets $100M in Tax Breaks to Expand in Michigan

“Go Michigan!” We didn’t hear them say it, but the team at A123Systems has likely become big fans of the state of Michigan. The Michigan Economic Development Corporation has granted the Watertown, MA-based developer of advanced battery systems $100 million in tax credits to support its plans to open an R&D center and manufacturing plants … Continue reading “A123Systems Gets $100M in Tax Breaks to Expand in Michigan”

American Well Brings Service to MN

American Well, a Boston-based provider of a network that enables patients to meet with doctors over a multimedia Web interface, says that Blue Cross and Blue Shield of Minnesota has signed on to offer American Well’s services to the health plan’s employees and their family members. This is American Well’s first customer in the continental … Continue reading “American Well Brings Service to MN”

Reva Systems Raises $5M, New CEO Named

Reva Systems, a Chelmsford, MA-based provider of RFID infrastructure software, says it has raised $5 million from previous investors and named Bruce Berger its new CEO. Berger is a former chief executive of North Grafton, MA, optical fiber provider Verrillon, and he takes over for acting Reva Systems CEO Ashley Stephenson. Stephenson will remain chairman … Continue reading “Reva Systems Raises $5M, New CEO Named”

Ahmed Joins Charles River Ventures

Charles River Ventures, a venture firm with offices in Waltham, MA, and Menlo Park, CA, has named veteran technology executive Hassan Ahmed a senior advisor at the firm, according to a press release. Ahmed—who is the former CEO of Sonus Networks (NASDAQ:[[ticker:SONS]]), a Westford, MA-based provider of software for the telecommunications industry—will work at the … Continue reading “Ahmed Joins Charles River Ventures”

Cell Therapeutics Seeks Pixantrone Approval

Cell Therapeutics says that it has begun a rolling submission of an application to the FDA to garner approval of its drug pixantrone, a treatment for relapsed or refractory aggressive cases of non-Hodgkin’s lymphoma. The Seattle-based drug developer (NASDAQ:[[ticker:CTIC]])—which revealed yesterday that it secured $15 million from institutional investor Cranshire Capital—plans to complete submission of … Continue reading “Cell Therapeutics Seeks Pixantrone Approval”

A123Systems Expanding Battery Tech Production and R&D with Fresh $69M Financing

A123Systems says it has reeled in $69 million from GE and other investors to ramp up production of its advanced lithium-ion batteries and enhance development of its smart grid energy storage technology. The $15 million that GE (NYSE:[[ticker:GE]]) contributed to the round—via its GE Energy Financial Services and GE Capital units—ups the company’s stake in … Continue reading “A123Systems Expanding Battery Tech Production and R&D with Fresh $69M Financing”

Marinus Pharma Finds $20M in 2nd Round

Marinus Pharmaceuticals, a Branford, CT-based developer of drugs for neurological and psychiatric disorders, says it has closed a $20 million Series B round of financing from existing investors including Canaan Partners, Domain Associates, Foundation Medical Partners, and Sofinnova Ventures. The funding is intended to further develop the firm’s lead drug candidate, ganaxolone, as an additional … Continue reading “Marinus Pharma Finds $20M in 2nd Round”

From Movie Sets to Operating Rooms, Chamberlain Group Turns Special Effects Biz into Healthcare Winner

Before computer animation took hold of the movie industry, spaceships, exploding cities, dislodged body parts, and other scene-stealing special effects were crafted by highly skilled model makers. But after decades spent in entertainment, Lisa and Eric Chamberlain have taken their skills in the entertainment and special effects businesses and applied them to provide realistic anatomical … Continue reading “From Movie Sets to Operating Rooms, Chamberlain Group Turns Special Effects Biz into Healthcare Winner”

Nano-Terra Envisions Moneymaking Nanotech Ideas for Batteries, Kitty Litter, & More

Nano-Terra is sticking to its original strategy: Let other companies spend the money on manufacturing and marketing products that arise from its inventions, while making its money from licensing its nanotech creations and pulling in royalties on product sales. Now the Cambridge, MA-based startup is considering spinning off separate businesses to pursue more applications, including … Continue reading “Nano-Terra Envisions Moneymaking Nanotech Ideas for Batteries, Kitty Litter, & More”

Fetzer New CEO of Cerulean Pharma

Oliver Fetzer has been named the new CEO of Cerulean Pharma, a Cambridge, MA-based developer of nanoparticle-based drugs for cancer and other diseases, according to the company. Fetzer, who was previously senior vice president of corporate development and R&D at Lexington, MA-based Cubist Pharmaceuticals (NASDAQ:[[ticker:CBST]]), is taking over the chief executive post from veteran biotech … Continue reading “Fetzer New CEO of Cerulean Pharma”

Bio Bigwigs from Boston and Beyond Gather in Cambridge to Discuss Future of Drug Development, Venture Capital, and Deals with Pharma

There’s little arguing (at least from me) that the hottest ticket in town yesterday was the Boston Red Sox’ opening day game at Fenway Park—but for ardent biotech fans in the Hub there was arguably no better place to be than across the Charles River in Cambridge for the Boston Biotech Business Development Conference. The … Continue reading “Bio Bigwigs from Boston and Beyond Gather in Cambridge to Discuss Future of Drug Development, Venture Capital, and Deals with Pharma”

Epix Saga Continues with Sale of Imaging-Drug Rights, Exchange Offer

Epix Pharmaceuticals (NASDAQ:[[ticker:EPIX]]), a Lexington, MA-based biotech firm struggling to survive, has revealed two separate deals today—the sale of certain market rights to its cardiovascular imaging agent and an exchange offer for $100 million in debt—aimed at shoring up its balance sheet and avoiding bankruptcy. Epix sold U.S./Puerto Rican, Canadian, and Australian marketing rights to … Continue reading “Epix Saga Continues with Sale of Imaging-Drug Rights, Exchange Offer”

Magen BioSciences Sold for $14.5M, Codon Devices Closing Doors

These probably aren’t the rosy endings that VC backers had in mind when the promising Boston-area life sciences startups Magen BioSciences and Codon Devices were launched in recent years. But the news today is that Waltham-based Magen has been sold for less than it raised in its first round of financing, and the Boston Globe … Continue reading “Magen BioSciences Sold for $14.5M, Codon Devices Closing Doors”

Mass Medical Angels Forms to Invest in Life Sciences Startups-And Get the Ball Rolling for VCs

Richard Anders, a veteran Boston-area entrepreneur and investor, has long shown an interest in life sciences through his affiliations with the Museum of Science in Boston, the Dana-Farber Cancer Institute, the Harvard-MIT Health Sciences and Technology program, and other organizations. Along the way, he’s seen a major problem: many promising life sciences inventions never reach … Continue reading “Mass Medical Angels Forms to Invest in Life Sciences Startups-And Get the Ball Rolling for VCs”

CLDA to Sell Cogenics for $17M

Clinical Data (NASDAQ:[[ticker:CLDA]]) has agreed to sell its Cogenics division, an outsourced genomics research business, to Orange County, CA-based life sciences company Beckman Coulter (NYSE:[[ticker:BEC]]) for about $17 million, according to a press release. Newton, MA-based Clinical Data says the deal is expected to close this month and will provide more capital to fund late-stage … Continue reading “CLDA to Sell Cogenics for $17M”

Nano-Terra in Water Treatment Deal

Nano-Terra, a Cambridge, MA, nanotechnology research and development firm, has formed an alliance with Minneapolis-based multi-industry company Pentair (NYSE:[[ticker:PNR]]) to develop new surface materials for water treatment, according to a press release. Financial details of the alliance weren’t disclosed. Xconomy contributor Neil Savage wrote that Nano-Terra was founded by renowned Harvard chemistry professor George Whitesides … Continue reading “Nano-Terra in Water Treatment Deal”

Big Drop in 1Q M&A Deals for VC-Backed Companies, IPO Drought Continues

We know there’s been a serious decline in exits for venture capitalists and their portfolio companies for the past year or more. Now two separate studies—one from Dow Jones VentureSource and the other done by the National Venture Capital Association (NVCA) and Thomson Reuters—show just how abysmal M&A and IPO activities were in the first … Continue reading “Big Drop in 1Q M&A Deals for VC-Backed Companies, IPO Drought Continues”

TargAnox Launches with $5.1M Series A Round, Targeting Oxidative Stress to Treat Diseases

In this ugly economy, it takes a special recipe of compelling science and willing investors to launch a new biotech startup. Newly hatched biotech TargAnox, which is focused on developing drugs to curb a sometimes disease-related biochemical condition called oxidative stress, has stirred that recipe together in recent months and closed a $5.1 million Series … Continue reading “TargAnox Launches with $5.1M Series A Round, Targeting Oxidative Stress to Treat Diseases”

Vecna’s “Nerds” Ready BEAR Robot for First Field Test at Georgia Army Base

Imagine a soldier is wounded in the middle of a violent firefight in the streets of Mosul, Iraq. With bullets whizzing in every direction, it’s almost guaranteed that a medic would be shot in a rescue attempt. Enter the BEAR robot, which rolls up to the wounded soldier, scoops her up in its arms, and … Continue reading “Vecna’s “Nerds” Ready BEAR Robot for First Field Test at Georgia Army Base”

Acadia Pharma, Japanese Firm, Strike Deal

Acadia Pharmaceutical has struck a collaboration deal with Tokyo-based firm Meiji Seika Kaisha to develop treatments for schizophrenia and separate neurological disorders for the Japanese market and other parts of Asia, according to a press release. San Diego-based Acadia (NASDAQ:[[ticker:ACAD]]), which has discovered a product candidate related to the deal, says it could receive up … Continue reading “Acadia Pharma, Japanese Firm, Strike Deal”

Smarter Speed-Reading: ReadingStream Explores New Ways to Help the Brain Process Text

Like a growing number of Americans, I do most of my reading in front of a laptop or handheld screen. And though I think I read electronic texts a good deal faster than the average person—who by several accounts reads between 200 and 250 words per minute on a screen—I’m open to any technology that … Continue reading “Smarter Speed-Reading: ReadingStream Explores New Ways to Help the Brain Process Text”

Alnara Leapfrogs Into Phase III, Just Six Months After Getting Started

Most biotech startups wait seven years or more before entering late-stage clinical trials. But Alnara Pharmaceuticals, which is just six months removed from its $20 million first-round financing, has acquired a license to an enzyme-replacement pill in the final stage of development for patients with cystic fibrosis and chronic pancreatitis. Cambridge, MA-based Alnara has licensed … Continue reading “Alnara Leapfrogs Into Phase III, Just Six Months After Getting Started”

Lionbridge Lays Off 325 Workers

Lionbridge Technologies (NASDAQ:[[ticker:LIOX]]), a Waltham, MA-based provider of software for language translation and other services, will lay off 325 employees or 8 percent of its workforce and consolidate several global operations as part of a restructuring plan, according to a regulatory filing. The plan is expected to save the company $6 million to $9 million … Continue reading “Lionbridge Lays Off 325 Workers”

Aveo and Biogen in Antibody Partnership

Aveo Pharmaceuticals and Biogen Idec (NASDAQ:[[ticker:BIIB]]), both based in Cambridge, MA,  have struck a development deal related to Cambridge, MA-based Aveo’s program to discover antibody drugs that target a cellular receptor known as ErbB3, according to Aveo. The cellular receptor is found in abundance on several types of cancer cells and is believed to promote … Continue reading “Aveo and Biogen in Antibody Partnership”

FirstBest Systems Banks $6M Series B Financing, Looks to Help Insurers Overcome Economic Slump

Here’s a firm that may see demand for its products increase due to adverse economics in its target market. FirstBest Systems, a Bedford, MA, provider of underwriting software that could help property and casualty insurers expand their businesses, says it has wrapped up a $6 million second round of financing to ensure its own growth. … Continue reading “FirstBest Systems Banks $6M Series B Financing, Looks to Help Insurers Overcome Economic Slump”

Claros Dx Raises $4M Second Round

Claros Diagnostics, a Woburn, MA-based developer of point-of-care diagnostics for prostate cancer and other diseases, has raised $4 million in a second round of financing, according to a report citing a regulatory filing on website PE Hub. The report doesn’t name the investors in the financing but says the company’s previous backers include Oxford Bioscience … Continue reading “Claros Dx Raises $4M Second Round”

Mzinga Cuts 18% of Workers, CEO Departs

Mzinga, a Burlington, MA, provider of Web-based social media and training software, has laid off 18 percent of its workers, leaving the firm with 170 employees, according to a company blog post. The blog post also revealed that CEO Rick Faulk will be leaving the firm and Barry Libert, the company’s executive chairman, has taken … Continue reading “Mzinga Cuts 18% of Workers, CEO Departs”

Surprised? Oxford Bioscience Partners Lands, Briefly, on Dreaded List of “VC Walking Dead”

It’s always slightly shocking to find out that a perceived wealthy friend or colleague isn’t so well off. I felt much the same way yesterday about seeing biotech venture firm Oxford Bioscience Partners on PE Hub’s roster of the “VC Walking Dead,” which is a list of more than a dozen venture firms that PE … Continue reading “Surprised? Oxford Bioscience Partners Lands, Briefly, on Dreaded List of “VC Walking Dead””

Ex-Wyeth Exec Named Sirtris Pres.

Sirtris, a Cambridge, MA, unit of London-based drug giant GlaxoSmithKline (NYSE:[[ticker:GSK]]), says that George Vlasuk has been named president and head of Sirtris. Vlasuk, who was previously vice president of metabolic and hemophilia in the pharmaceutical division of Madison, NJ-based Wyeth (NYSE:[[ticker:WYE]]), will report to Sirtris CEO Christoph Westphal. Vlasuk will be based in Cambridge … Continue reading “Ex-Wyeth Exec Named Sirtris Pres.”

MedAptus Lands $6M Financing

MedAptus, a Boston-based provider of billing software for medical practices and hospitals, reports it has raised $6 million in a financing. The financing, led by previous investor Boston Millennia Partners, is intend to expand MedAptus’s “Intelligent Charge Capture” software business. MedAptus says that one feature of its software is to enhance organizations’ investments in electronic … Continue reading “MedAptus Lands $6M Financing”

After Fending Off Sequenom Takeover, Exact Sciences Replaces CEO and CFO with Diagnostics Vets

Exact Sciences, a Marlborough, MA, developer of a DNA-based stool test for detecting colorectal cancer, says that its board of directors has replaced the firm’s CEO and chief financial officer. The management changes follow the firm’s successful maneuvering to avoid a takeover by San Diego-based diagnostics firm Sequenom (NASDAQ:[[ticker:SQNM]]). The board of Marlborough, MA-based Exact … Continue reading “After Fending Off Sequenom Takeover, Exact Sciences Replaces CEO and CFO with Diagnostics Vets”

Report: IBM in Talks to Buy Sun Microsystems for $6.5B

Big Blue may become even bigger in the Boston area. IBM is in discussions to acquire Sun Microsystems, a move that would strengthen IBM’s Web presence and add to its server and data storage businesses, the Wall Street Journal reports this morning, citing unnamed sources with knowledge of the talks. Both IBM (NSYE:[[ticker:IBM]]) and Sun … Continue reading “Report: IBM in Talks to Buy Sun Microsystems for $6.5B”

Generation Health Growing Boston-Area Presence, Backed by Highland Capital Partners

Though Generation Health, launched last year with backing from Highland Capital Partners and others in the Boston area, is based in New Jersey, it’s staging much of its effort to build a novel benefits management system for genetic tests here in Massachusetts. And Per Lofberg, the firm’s chairman and CEO, tells Xconomy that he anticipates … Continue reading “Generation Health Growing Boston-Area Presence, Backed by Highland Capital Partners”

Still River Systems Banks $33M to Accelerate Development of Next-Gen Proton Radiotherapy System

Still River Systems, a Littleton, MA, startup developing a proton radiotherapy system for cancer treatment, has revealed a $33 million financing this morning intended to help the company expedite development of its lead product. The sizable financing was led by Venrock Associates and previous investor Caxton Health and Life Sciences, according to Still River. Venture … Continue reading “Still River Systems Banks $33M to Accelerate Development of Next-Gen Proton Radiotherapy System”

Carmichael Roberts Brings Scientific Expertise to North Bridge Venture Partners, Launching New Startup

Carmichael Roberts says he has avoided taking the traditional path during his career as a scientist and entrepreneur. And he’s now taking a path that will lead North Bridge Venture Partners from its traditional emphasis on IT to a larger mix of investments based on breakthroughs in chemistry and materials science. He even let me … Continue reading “Carmichael Roberts Brings Scientific Expertise to North Bridge Venture Partners, Launching New Startup”

Hologic Gets FDA Nod for HPV Tests

Hologic (NASDAQ:[[ticker:HOLX]]), a Bedford, MA-based provider of women’s healthcare products, says that the FDA has approved two of its “Cervista” tests for detecting human papillomavirus (HPV), a major cause of cervical cancer. One of the tests is intended to identify 14 “high-risk” strains of HPV, according to the firm, and the other test is designed … Continue reading “Hologic Gets FDA Nod for HPV Tests”

Fate Therapeutics Adds Scientific Muscle, Advancing Stem Cell Technology into First Clinical Trial

Fate Therapeutics has wowed people with its big plans to make drugs that activate adult stem cells in the body to treat diseases and regenerate tissues. And now the biotech startup has brought on new scientific talent to help put its first treatment to the test in clinical trials. Fate said yesterday it has recruited … Continue reading “Fate Therapeutics Adds Scientific Muscle, Advancing Stem Cell Technology into First Clinical Trial”

Epix Pharma Halves Workforce

Lexington, MA-based Epix Pharmaceuticals (NASDAQ:[[ticker:EPIX]]), a developer of drugs for Alzheimer’s disease and Cystic Fibrosis, says that it plans to cut half of its workers immediately to reduce expenses. The cuts will affect a total of 44 workers, with 33 of the employees losing their jobs in Massachusetts, a company spokeswoman confirmed. The company expects … Continue reading “Epix Pharma Halves Workforce”