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.

Aura Biosciences Aims to Develop “Ballistic Missile” Drug to Beat Pancreatic Cancer, Deliver RNAi Therapies

[[Correction: see editor’s note below]] It’s a difficult time for a brand new biotech firm to be drumming up interest in a novel approach to delivering drugs, with investors snubbing so many firms with drugs already in clinical trials. But the market conditions haven’t stopped Elisabet de los Pinos, a former fellow at the MIT … Continue reading “Aura Biosciences Aims to Develop “Ballistic Missile” Drug to Beat Pancreatic Cancer, Deliver RNAi Therapies”

Epix Reaches Milestone in CF Research

Epix Pharmaceuticals says that it is eligible for a $500,000 milestone fee from Cystic Fibrosis Foundation Therapeutics—a nonprofit affiliate of the Cystic Fibrosis Foundation—for completing screening for small molecule drug candidates for cystic fibrosis. Lexington, MA-based Epix (NASDAQ:[[ticker:EPIX]]) is searching for drugs to target a mutated form of the cystic fibrosis transmembrane conductance regulator ion … Continue reading “Epix Reaches Milestone in CF Research”

Athenahealth’s Bush, First Cousin of the 43rd Pres., on Obama’s $19B Plan to Pay for Electronic Health Records

Most doctors in the U.S. have never heard of Athenahealth, the Watertown, MA-based firm offering Web-based software for managing billing, electronic medical records (EMRs), and other functions in physician practices. But the federal government plans to invest $19 billion to make funds available for doctors to switch from the usual paper-based systems to electronic medical … Continue reading “Athenahealth’s Bush, First Cousin of the 43rd Pres., on Obama’s $19B Plan to Pay for Electronic Health Records”

Proteon Fills Coffers with $38M Round, Inks Deal for Potential Sale to Novartis

Proteon Therapeutics says it has closed a $38 million Series B round of financing to fund development of its drug for kidney disease patients on chronic dialysis—and the Waltham, MA-based company has struck a separate deal that gives Swiss drug giant Novartis an option to buy the firm if the drug, the lead treatment in … Continue reading “Proteon Fills Coffers with $38M Round, Inks Deal for Potential Sale to Novartis”

Conn. Agency Pumps $515K into Helix Therapeutics

Helix Therapeutics, a biotech startup developing treatments for infectious and genetic diseases, has reeled in a $515,000 investment from quasi-public investor Connecticut Innovations, according to Connecticut Innovations. The investment is part of a $965,000 round of financing that included Cambridge, MA-based investment firm LaunchCapital, individual backers, and a line of credit from Webster Bank. Helix … Continue reading “Conn. Agency Pumps $515K into Helix Therapeutics”

Novophage Forming to Combat Antibiotic Resistance with Engineered Viruses

A group of biotech veterans and up-and-comers in the Boston area are forming a startup called Novophage to make engineered viruses that may help combat the growing problem of resistance to antibiotics. It’s early days for Novophage. The firm has no office or venture backers to speak of, but it has formed an impressive roster … Continue reading “Novophage Forming to Combat Antibiotic Resistance with Engineered Viruses”

Venrock Launches $194M Healthcare Fund

Venrock Associates says it has formed Venrock Healthcare Capital Partners with a $194 million fund to invest in public and late-stage private healthcare companies. The venture firm, which has offices in Cambridge, MA, New York, Palo Alto, CA, and Israel, now has $2.2 billion under management. Venrock’s previous healthcare investments in Boston, San Diego and … Continue reading “Venrock Launches $194M Healthcare Fund”

Regulus Therapeutics Follows Through on Fundraising, Independence Plans

Regulus Therapeutics, the fledgling biotech firm developing microRNA-based drugs, wasn’t kidding when it told Xconomy earlier this year that it planned to gain a more independent corporate charter and raise a significant round of financing. The Carlsbad, CA-based startup says this morning that it has raised $20 million in a Series A round of financing; … Continue reading “Regulus Therapeutics Follows Through on Fundraising, Independence Plans”

ImmunoGen Gets $6.5M Milestone Fee

ImmunoGen, a Waltham, MA-based developer of cancer treatments, says that it expects to collect a $6.5 million milestone from its partner, South San Francisco-based biotech giant Genentech, due to the start of dosing patients in a late-stage clinical trial for breast cancer drug T-DM1. The drug includes ImmunoGen’s cancer cell-killing agent linked to Genentech’s antibody … Continue reading “ImmunoGen Gets $6.5M Milestone Fee”

MIT Student, Startup Founder, Wins Prize

The new winner of the prestigious Lemelson-MIT Student Prize is Geoffrey von Maltzahn, an MIT graduate student of biomedical engineering. He has developed, among other inventions, particles made of gold nano-rods coated with polymers that are designed to gather inside tumors cells, according to a press release. Under near infrared light, the nano-rods heat up … Continue reading “MIT Student, Startup Founder, Wins Prize”

Oasys Water Aims to Make Desalination Cheap Enough to Crack Mainstream Market, Relieve Shortages

We hear a lot about the bioengineered enzymes, switch grass, and multiple feedstocks needed to provide the massive amounts of raw material for the clean energy era. Another key ingredient is water—and lots of it. So after launching clean energy firms in recent years, entrepreneur Aaron Mandell started Cambridge, MA-based Oasys Water last year. Oasys, … Continue reading “Oasys Water Aims to Make Desalination Cheap Enough to Crack Mainstream Market, Relieve Shortages”

Nuance Ending Pursuit of Zi with $35M Deal

Burlington, MA-based Nuance Communications is wrapping up its long and sometimes contentious crusade to acquire Zi, a Canadian competitor in the market for text messaging software, which has agreed to Nuance’s $35 million buyout offer. The deal, announced today, provides shareholders of Calgary-based Zi (NASDAQ:[[ticker:ZICA]]) with 34 cents in cash and 0.4 shares of Nuance … Continue reading “Nuance Ending Pursuit of Zi with $35M Deal”

Innovation Index: Bay State Leads on Some R&D Scores, But Fed Grants Decline

Massachusetts bested many of its rival states in research and development funding and maintaining a healthy supply of college graduates, but the Bay State is falling behind in several key areas of its innovation economy, according to a new index released today by the quasi-public nonprofit Massachusetts Technology Collaborative (MTC). The annual report, dubbed the … Continue reading “Innovation Index: Bay State Leads on Some R&D Scores, But Fed Grants Decline”

Genzyme Nabs Two Key Regulatory Approvals, Expected to Trigger Revenue Growth

Genzyme has picked up a pair of long-awaited regulatory approvals for two products that are key to the firm’s growth. The Cambridge, MA-based biotech powerhouse (NASDAQ:[[ticker:GENZ]]) says that the European Commission has approved its Belgium plant to produce Pompe disease drug alglucosidase alfa (Myozyme) in 4,000-liter batches. Separately, the firm garnered FDA approval of its … Continue reading “Genzyme Nabs Two Key Regulatory Approvals, Expected to Trigger Revenue Growth”

Eyeing $12B Market, Clinical Data Raises $50M to Develop Lead Drug and Pipeline

Hungry for cash to advance its lead depression drug to the market, Newton, MA-based biotech firm Clinical Data (NASDAQ:[[ticker:CLDA]]) has raised $50 million in a convertible debt financing. The funding came from investment affiliates of Clinical Data’s chairman, Randal Kirk, according to the company. Clinical Data says that the new funding will support the firm … Continue reading “Eyeing $12B Market, Clinical Data Raises $50M to Develop Lead Drug and Pipeline”

Actress Glenn Close, “Dream Team” at Fetchdog Aim to Bite Into $40 Billion Pet Market

The story of FetchDog begins with a small group of pet owners who saw a need for an online hub for people like them to buy merchandise, read about trends, and socialize. And the founders of the Portland, ME-based firm, besides their affinity for pets, are also what one investor called a “dream team” of … Continue reading “Actress Glenn Close, “Dream Team” at Fetchdog Aim to Bite Into $40 Billion Pet Market”

Netezza Buys Tizor Systems for $3M

This isn’t the exit that investors in Tizor Systems were hoping for. The Maynard, MA-based startup, which says it raised $23.3 million in its last two rounds of financing, was sold last week to Netezza (NYSE:[[ticker:NZ]]) for $3.1 million in cash, according to a regulatory filing. Tizor, which makes software to audit and guard information … Continue reading “Netezza Buys Tizor Systems for $3M”

Selecta Biosciences Banks $15M to Advance Nano-Sized Immune-Stimulating Drugs

Selecta Biosciences, a secretive biotech startup, is breaking its silence today to reveal the closing of a $15.1 million second round of financing. The sizable round is a rarity during what has been a financial drought for most young biotech firms, yet the founders of Watertown, MA-based Selecta say the startup has attracted investors due … Continue reading “Selecta Biosciences Banks $15M to Advance Nano-Sized Immune-Stimulating Drugs”

Investors Back Growing Bay State Software Firms Aveksa and Apparent Networks in Pair of Series C Financings

It’s no anomaly that two Massachusetts firms that provide software for big organizations—Waltham-based Aveksa, and Apparent Networks, headquartered in Wellesley Hills—are announcing the close of significant financings today. Both companies are commercially viable businesses with revenue streams, the types of operations that are attracting venture capital and private equity investments during this stormy recession. Aveksa … Continue reading “Investors Back Growing Bay State Software Firms Aveksa and Apparent Networks in Pair of Series C Financings”

Dynogen Pharma Files for Bankruptcy

Waltham, MA-based drug developer Dynogen Pharmaceuticals has filed for bankruptcy protection this week under the weight of $10.6 million in liabilities, the Boston Business Journal reported this morning. Dynogen, a developer of drugs for irritable bowel syndrome and other gastrointestinal disorders, raised some $67 million over the past six years from Boston-area investors such as … Continue reading “Dynogen Pharma Files for Bankruptcy”

Boston-Power Expands Manufacturing

Boston-Power, a Westborough, MA-based maker of long-lasting lithium-ion batteries, says that it has struck a deal with battery maker GP Batteries to dedicate GP’s entire plant in Taiwan to the production of Boston-Power’s Sonata batteries. The deal is expected to double production this year of Sonata batteries, which Boston-Power is supplying to HP as lithium-ion … Continue reading “Boston-Power Expands Manufacturing”

Panacos Cuts Workers, Shutters MD Facility

Panacos Pharmaceuticals (NASDAQ:[[ticker:PANC]]), a Watertown, MA-based developer of drugs for HIV, says that it will shutter its Gaithersburg, MD, facility and cut its work force from 11 to four employees to conserve cash. Panacos has also hired investment banking firm Oppenheimer to advise the company about such strategic options such as the sale of Panacos … Continue reading “Panacos Cuts Workers, Shutters MD Facility”

Optimer Drug for Traveler’s Diarrhea Passes Key Trial, Will Seek FDA Approval

Here’s some potentially good news for vacationers who have had their trip spoiled by a bad case of the runs. Optimer Pharmaceuticals says its experimental drug for traveler’s diarrhea has reached its goal in a second pivotal clinical trial, and the San Diego-based firm plans to ask the FDA to approve the drug by the … Continue reading “Optimer Drug for Traveler’s Diarrhea Passes Key Trial, Will Seek FDA Approval”

Borealis Ventures: The Real Venture Capitalists from New Hampshire

Philip Ferneau says that it’s pretty funny that the movie “Wedding Crashers” follows the exploits of two bachelors who decide to keep up appearances at the wedding of complete strangers by posing as venture capitalists from New Hampshire. Ferneau and his partners at Borealis Ventures are indeed among the few actual venture capitalists based in … Continue reading “Borealis Ventures: The Real Venture Capitalists from New Hampshire”

Lytton Leaves VC Firm for Biogen

Michael Lytton has left his post as general partner at Boston venture firm Oxford Bioscience Partners to be executive vice president of business development at Cambridge, MA-based biotech powerhouse Biogen Idec (NASDAQ:[[ticker:BIIB]]), according to a press release. Lytton, a well-known venture capitalist who joined Oxford in 2001, will now be on the opposite side of … Continue reading “Lytton Leaves VC Firm for Biogen”

Amicas Plans $39M Buyout of Emageon

Amicas (NASDAQ:[[ticker:AMCS]]), a Boston-based provider of software for managing medical images and other healthcare information, says that it has agreed to buy competitor Emageon (NASDAQ:[[ticker:EMAG]]), headquartered in Birmingham, AL, for $39 million in cash. Emageon’s board of directors has approved the deal, and Amicas plans March 5 to begin a tender offer of $1.82 per … Continue reading “Amicas Plans $39M Buyout of Emageon”

Zoll Medical to Buy Alsius for $12M

Zoll Medical (NASDAQ:[[ticker:ZOLL]]), a Chelmsford, MA-based provider of devices and products for the critical care market, has agreed to acquire the assets of medical devices firm Alsius for $12 million in cash, according to a press release. Irvine, CA-based Alsius (NASDAQ:[[ticker:ALUS]]) makes products that control body temperature to, for example, induce hypothermia in stroke victims … Continue reading “Zoll Medical to Buy Alsius for $12M”

With New Firm Makaira Venture Partners, STD Med Gives Medtech Fund Another Shot

It may be a lousy time for raising money for venture capital funds, but that isn’t deterring medtech entrepreneur Steven Tallarida from launching Makaira Venture Partners near Boston. Though his earlier strategy to finance a medtech fund fell short, Tallarida and his associates plan to hit the road in the coming months to raise about … Continue reading “With New Firm Makaira Venture Partners, STD Med Gives Medtech Fund Another Shot”

Genzyme Oral Pill for Gaucher’s Succeeds in Trial, Aims to Extend Key Revenue Stream

Genzyme (NASDAQ:[[ticker:GENZ]]) said this afternoon that its next-generation, oral drug for Gaucher disease passed a mid-stage clinical trial, providing a degree of assurance that the Cambridge, MA-based biotech powerhouse can sustain its franchise for treating the rare genetic disease. The study, which included 26 patients, showed the oral drug was safe and effective. And the … Continue reading “Genzyme Oral Pill for Gaucher’s Succeeds in Trial, Aims to Extend Key Revenue Stream”

Ariad Pharma to Sell $24.3M in Stock

Ariad Pharmaceuticals (NASDAQ:[[ticker:ARIA]]), a Cambridge, MA-based developer of drugs for cancer and other diseases, says it has sold 14.37 million shares of common stock to new and existing institutional investors for $1.69 per share, or a total of $24.3 million. Investors were also granted .75 warrants for each share purchased to buy Ariad’s stock at … Continue reading “Ariad Pharma to Sell $24.3M in Stock”

Beacon Power to Raise up to $18M

Beacon Power (NASDAQ:[[ticker:BCON]]), a Tyngsboro, MA-based provider of services and products for efficient electricity use, says it has struck a deal to raise up to $18 million through the sale of its common stock to investment fund Seaside 88 over the next 18 months. At least some of the funds will support the production of … Continue reading “Beacon Power to Raise up to $18M”

Genocea Biosciences Closes $23M Series A, Adds New CEO Bakali

Genocea Biosciences, a Cambridge, MA-based startup built around rapid vaccine discovery technology licensed from Harvard Medical School, says it has raised $23 million in a Series A round of financing and named biotech industry veteran Staph Leavenworth Bakali as its CEO. The firm’s first round was led by SR One, the venture arm of London-based … Continue reading “Genocea Biosciences Closes $23M Series A, Adds New CEO Bakali”

CEO Gerngross Says Deals Around Adimab’s Yeast-Based Antibody Discovery Technology Are Progressing

Adimab is taking an uncommon approach to exploiting the value of its antibody-discovery technology. The Lebanon, NH-based biotech startup has no plans to ever develop its own drugs—CEO Tillman Gerngross says he thinks Adimab can become successful with income from drug-discovery and licensing deals alone. That is the level of confidence that Gerngross apparently has … Continue reading “CEO Gerngross Says Deals Around Adimab’s Yeast-Based Antibody Discovery Technology Are Progressing”

Konarka Nabs $5M State Loan

Konarka Technologies, a Lowell, MA-based maker of flexible plastics that convert light into energy, says that it has landed a $5 million loan from the Emerging Technology Fund of Massachusetts Development Finance Agency and the Massachusetts Renewable Energy Trust’s Business Expansion Initiative. The loan is related to the October 2008 opening of Konarka’s manufacturing facility … Continue reading “Konarka Nabs $5M State Loan”

Oasys Water Raises $10M

Oasys Water, a Cambridge, MA-based startup, has wrapped up a $10 million financing led by venture firms Advanced Technology Ventures, Draper Fisher Jurvetson, and Flagship Ventures to develop its technology for converting salt water into potable drinking water, the Boston Globe reported over the weekend. Oasys tells the daily broadsheet that its forward osmosis technology, … Continue reading “Oasys Water Raises $10M”

GSK Pays Synta $10M Milestone Fee

Synta Pharmaceuticals (NASDAQ:[[ticker:SNTA]]), a Lexington, MA-based developer of drugs for cancer and other diseases, says that it has received a $10 million payment from London-based drug giant GlaxoSmithKline for reaching an operational milestone in the development of elesclomol, which is in late-stage clinical trials for the treatment of metastatic melanoma in combination with chemotherapy drug … Continue reading “GSK Pays Synta $10M Milestone Fee”

Dartmouth College: An Innovation Hub in Northern New England

It takes about two hours to drive to Dartmouth College from the Boston area—not nearly as convenient as the 15- or 20-minute trip that many of the area’s venture capitalists can make between their firms and Harvard or MIT. Nevertheless, some local VCs make the trek to Dartmouth’s Hanover, NH, campus on a regular basis. … Continue reading “Dartmouth College: An Innovation Hub in Northern New England”

HeartWare Takes $282M Buyout

HeartWare International (ASX:[[ticker:HIN]]), a small Framingham, MA-based developer of an implant used to keep the heart beating, has agreed to be sold to Pleasanton, CA-based medical devices firm Thoratec (NASDAQ:[[ticker:THOR]]) in a half stock, half cash deal valued at $282 million, according to Thoratec. The deal is expected to close in the second half of … Continue reading “HeartWare Takes $282M Buyout”

Former Arthur D. Little CEO McNamara, Taking a Top Post at Cambridge Consultants, Says She’s Gone “Back to the Future”

Pamela McNamara says that her new post at Cambridge Consultants, a technology product design and development firm, is like going “back to the future.” That’s because she once oversaw the firm as CEO of then-fading consulting powerhouse Arthur D. Little, which owned Cambridge Consultants until 2002. Yet her new employer has evolved in the years … Continue reading “Former Arthur D. Little CEO McNamara, Taking a Top Post at Cambridge Consultants, Says She’s Gone “Back to the Future””

Oscient to Shed 32% of Workers

Oscient Pharmaceuticals, a Waltham, MA-based drug maker, says it is laying off 32 percent of its total workforce, or about 100 jobs, to conserve cash. The company—which markets fenofibrate (Antara) for high cholesterol and antibiotic gemifloxacin mesylate (Factive) for bronchitis—expects a charge of $2 million in this fiscal quarter related to the layoffs. The cuts, … Continue reading “Oscient to Shed 32% of Workers”

Partners’ Center for Connected Health to Launch Disease-Monitoring System, Mulls Commercial Spinoff

A group within Boston’s largest health system is launching a Web-based service so employers can help their workers keep their high blood pressure in check. The service developed by the Center for Connected Health, which is part of Partners HealthCare, could help reduce thousands of fatal strokes and heart attacks in the U.S. caused by … Continue reading “Partners’ Center for Connected Health to Launch Disease-Monitoring System, Mulls Commercial Spinoff”

More Info Needed on Alkermes Drug

Alkermes (NASDAQ:[[ticker:ALKS]]), a Cambridge, MA-based biotech company, says that the FDA has asked the firm’s partner, Johnson & Johnson, for more information about a long-acting version of schizophrenia drug risperidone before the agency decides whether to approve it as supplemental treatment for bipolar disorder. The drug, marketed under the names Risperdal and Consta, garnered U.S. … Continue reading “More Info Needed on Alkermes Drug”

VC Firms, Led By Advanced Technology Ventures, Aim To Polish Image with Entrepreneurs

This we’ve known: The venture capital business model relies on having talented entrepreneurs to run their portfolio companies. Yet many entrepreneurs love to hate VCs, and new online forums such as TheFunded.com have made this reality more clear than ever (Bob wrote about how TheFunded.com has made its ratings of VC firms and partners available … Continue reading “VC Firms, Led By Advanced Technology Ventures, Aim To Polish Image with Entrepreneurs”