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.

Archemix Looks to Hitch Eli Lilly to Aptamer Express in New Deal

Archemix has added to its growing list of pharmaceutical collaborators one of the biggest names in the business, inking a licensing and options deal with Indianapolis-based drug giant Eli Lilly (NYSE:[[ticker:LLY]]). The agreement gives licenses to unspecified Lilly technology to Archemix, and it provides options to Lilly to evaluate Archemix’s signature aptamer therapeutics and to … Continue reading “Archemix Looks to Hitch Eli Lilly to Aptamer Express in New Deal”

Eventful Celebrates $10M Financing Event; Aims to “Cement” Lead in Online Events Services

Eventful is celebrating its own financing event as it closes a $10 million Series C round, the company announced today. San Diego-based Eventful, a four-year-old firm that enables users to promote and track local events online, says the capital infusion came from new investor and Spanish telecommunications giant Telefónica (NYSE:[[ticker:TEF]]) and previous venture backers Draper … Continue reading “Eventful Celebrates $10M Financing Event; Aims to “Cement” Lead in Online Events Services”

Charles River Opens Pre-Clinical Labs in Shanghai

Charles River Laboratories International (NYSE:[[ticker:CRL]]), a Wilmington, MA-based provider of drug development services, announced the opening of a 60,000-square-foot pre-clinical facility in Shanghai. The company says that the facility is intended to support the global drug-development needs of its clients.

MobUI Acquires Action Engine, Raises Funds

MobUI, a Redmond, WA, developer of mobile applications, announced it has acquired mobile application platform firm Action Engine of Bellevue, WA, and raised an undisclosed amount of new funds. MobUI says the new financing—led by South American wireless application service provider GlobalNET Mobile Solutions—will help the firm develop applications for the iPhone, mobile Web, and … Continue reading “MobUI Acquires Action Engine, Raises Funds”

Sequoia Raises $10M in Sixth VC Round

Sequoia Communications, a San Diego-based maker of fabless RF transceivers, has reeled in $10.1 million in a sixth round of venture capital financing, PE Hub reports. Citing regulatory filings, PE Hub says the semiconductor company’s only listed shareholders were previous investors BlueRun Ventures and Tallwood Venture Capital. Since 2000, PE Hub reports, Sequoia had previously … Continue reading “Sequoia Raises $10M in Sixth VC Round”

New Pfizer Incubator Chief Looks Far and Wide for New Science, But Backs Off Plans for Boston Site

Mark Benedyk follows a broad charter for The Pfizer Incubator (TPI): to find and nurture the best science in the world to feed the R&D machine for its parent company, global drug giant Pfizer (NYSE:[[ticker:PFE]]). Benedyk, a biotech industry veteran, took the reins of TPI in January, and he has plans to expand the reach … Continue reading “New Pfizer Incubator Chief Looks Far and Wide for New Science, But Backs Off Plans for Boston Site”

MIT’s Langer, Renowned for Inventing Solutions to Medical Problems, Strives to Do the Same for Hurricanes

When renowned MIT professor (and Xconomist) Bob Langer spoke last month at our Xconomy Forum on building life sciences companies—a task at which he has been exceedingly successful—we weren’t expecting him to mention that he has struggled for some eight years to raise money to study “hurricane mitigation.” It turns out that Langer—a chemical engineer … Continue reading “MIT’s Langer, Renowned for Inventing Solutions to Medical Problems, Strives to Do the Same for Hurricanes”

The Boston-Area Obesity Treatment Cluster: Are Flood Gates Opening for Weight-Loss Drugs and Devices?

We’re not a particularly weight-conscious crew, but we at Xconomy have been noticing lately that the ranks of Boston-area firms focusing on obesity seem to be, well, growing. (See page two for our list of such companies.) Last month, for example, I profiled Lexington, MA-based GI Dynamics, which has reported progress in clinical trials with … Continue reading “The Boston-Area Obesity Treatment Cluster: Are Flood Gates Opening for Weight-Loss Drugs and Devices?”

Harvard Banks Record $125M Donation for New “Biologically Inspired Engineering” Institute

Harvard University has received a gift of $125 million from billionaire philanthropist Hansjörg Wyss to support the formation of a new research institute for biological engineering, The Harvard Crimson reports. The Crimson called the gift the largest in Harvard’s history, topping what had been a record donation of $100 million in April from David Rockefeller … Continue reading “Harvard Banks Record $125M Donation for New “Biologically Inspired Engineering” Institute”

Rib-X Pharma, and Its Lead Antibiotic, Gear Up for Prime Time

Rib-X Pharmaceuticals is gearing up to reveal mid-stage clinical results for its lead antibiotic that could advance the heavily backed biotech firm to a point at which larger drug companies often want a piece of the action. New Haven, CT-based Rib-X, which has raised $123 million in private capital since it was founded in 2001, … Continue reading “Rib-X Pharma, and Its Lead Antibiotic, Gear Up for Prime Time”

Idera Drug Falls Short in Phase 2

Idera Pharmaceuticals (NASDAQ:[[ticker:IDRA]]), a Cambridge, MA-based biotech firm, reports that results of the first portion of a phase 2 clinical trial of a drug called IMO-2055 in patients with a recurrent form of kidney cancer show the treatment failed to have a desired impact on tumor size. Still, investment firm Rodman & Renshaw analysts maintained … Continue reading “Idera Drug Falls Short in Phase 2”

BSX to Pay J&J $703M in Stent Suit

Boston Scientific (NYSE:[[ticker:BSX]]), a Natick, MA-based medical devices maker, has been ordered to pay $703 million to the Cordis unit of medical products giant Johnson & Johnson for infringing on a Cordis patent on stents, according to J&J. The U.S. District Court of Delaware made a final judgment in the case that also involved Minneapolis-based … Continue reading “BSX to Pay J&J $703M in Stent Suit”

Janius to Replace Sayer as CEO of ImmunoGen

ImmunoGen (NASDAQ:[[ticker:IMGN]]), a Waltham, MA-based biotech firm, announced today that its board of directors has approved a succession plan in which company president and COO Daniel Junius will become CEO on Jan. 1, 2009. He replaces long-time CEO Mitchel Sayer, who will continue to serve as chairman after Junius takes over the chief executive post.

Indevus Puts New Acromegaly Treatment Head-to-Head with Novartis Treatment in Phase 3 Trial

Indevus Pharmaceuticals, a Lexington, MA, maker of specialty drugs, says it has launched a Phase 3 clinical trial of an implant designed to provide long-term treatment of patients with acromegaly, a rare and potentially life-threatening condition caused by the overproduction of growth hormone. The company (NASDAQ:[[ticker:IDEV]]) plans to use its patented “hydron polymer technology” in … Continue reading “Indevus Puts New Acromegaly Treatment Head-to-Head with Novartis Treatment in Phase 3 Trial”

RockPort Flexes New Cleantech Fund to Back Sustainable Spaces in $6M Round

RockPort Capital Partners of Boston and Menlo Park, CA, has made an early bet with money from its new $450 million cleantech fund, co-leading a $6 million investment in San Francisco-based “home performance services” firm Sustainable Spaces. Sustainable Spaces provides energy audits and environmental tests such as carbon monoxide checks for the home market. The … Continue reading “RockPort Flexes New Cleantech Fund to Back Sustainable Spaces in $6M Round”

New Biotech Biz Models (and the Tested Bob Langer-Terry McGuire Approach) Emerge at Xconomy Forum

We could have called it the “New Biotech Business Model Expo.” Xconomy’s forum—How to Build a Life Sciences Company—attracted venture capitalists and entrepreneurs from around the Boston area (and a few from across the country) to the Novartis Institutes for Biomedical Research in Cambridge on Tuesday morning to showcase the strategies they’ve used to form … Continue reading “New Biotech Biz Models (and the Tested Bob Langer-Terry McGuire Approach) Emerge at Xconomy Forum”

Governor’s Life Sciences Agency Makes Key Hire with MIT and Pharma Connections

The agency charged with running Massachusetts Gov. Deval Patrick’s $1 billion life sciences initiative has tapped an executive with venture capital experience to help form relationships with key industry players. Luis Barros, an MIT Sloan School alum and veteran of the VC arm at drug giant Eli Lilly (NYSE:[[ticker:LLY]]), Lilly Ventures, has accepted the newly … Continue reading “Governor’s Life Sciences Agency Makes Key Hire with MIT and Pharma Connections”

GI Dynamics Looks to Tackle Two Global Epidemics with Single Device, Reveals Seedling Roots

GI Dynamics has ambitious plans to gain regulatory approvals to treat two global epidemics—obesity and type 2 diabetes—with its experimental intestinal liner. The reversible, minimally invasive procedure to place the device in patients could appeal to an even wider market than permanent surgeries such as gastric bypass that are currently popular options. The Lexington, MA, … Continue reading “GI Dynamics Looks to Tackle Two Global Epidemics with Single Device, Reveals Seedling Roots”

Sirtris’ Westphal Enjoying Life Under GSK Ownership; Hints at Positive Human Data on Next-Gen Drugs to Extend Healthy Life (and Still Partying on Fridays)

Sirtris is now part of pharmaceutical behemoth GlaxoSmithKline (NYSE:[[ticker:GSK]]), but the British giant has allowed its acquisition a unique dose of autonomy since it bought the small, Cambridge, MA-based biotech in June for $720 million. For those who still haven’t heard, Sirtris is known around the world for the dazzling potential of its drugs to … Continue reading “Sirtris’ Westphal Enjoying Life Under GSK Ownership; Hints at Positive Human Data on Next-Gen Drugs to Extend Healthy Life (and Still Partying on Fridays)”

GE Shoots $4M Investment to Advanced Electron Beams

Advanced Electron Beams (AEB) of Wilmington, MA, has boosted its “green” credentials with technology that enables industry to sterilize or cure products without the energy costs and chemical waste of other solutions. General Electric (NYSE:[[ticker:GE]]) says it likes how AEB’s energy-efficient electron beam emitters complement GE’s “ecomagination” initiative to use more clean technologies, and now … Continue reading “GE Shoots $4M Investment to Advanced Electron Beams”

Sirtris Gains SIRT3 Licenses from Harvard

Sirtris announced today that it has gained two exclusive licenses to Harvard University patents related to SIRT3, an enzyme believed to protect against cellular damage. The Cambridge, MA, biotech firm—which was acquired by British drug giant GlaxoSmithKline (NYSE: [[ticker:GSK]]) in June for $720 million—says the licenses cover assays that may identify SIRT3 activators for diseases … Continue reading “Sirtris Gains SIRT3 Licenses from Harvard”

Living Proof’s Frizz-Busting Technology Unveiled, Sort Of

When I wrote last month that MIT professor Robert Langer and Polaris Venture Partners had teamed with veterans of the beauty industry, the burning question on my mind was: What would their product be? Well, I’ve just learned the answer (most of it, anyway). Living Proof, the Cambridge, MA, startup formed to apply innovations in … Continue reading “Living Proof’s Frizz-Busting Technology Unveiled, Sort Of”

ACT to Vacate Facilities in Boston and California

Advanced Cell Technology (OTB:[[ticker:ACTC]]), a developer of stem cell treatments, says it has not renewed its lease on a facility in Alameda, CA, and has vacated labs in Boston as part of a plan to cut annual operating expenses by $5 million to $6 million. The company maintains operations in Worcester, MA, and in Los … Continue reading “ACT to Vacate Facilities in Boston and California”

British Biotech Antisoma Sees Buyout of Xanthus as Beginning of U.S. Commercial Hub in Cambridge, MA

Glyn Edwards, CEO of British biotech firm Antisoma, has found just the tonic for both the particularly gloomy weather in London this year and the business risk his company once faced with only one experimental drug close to market approval: Cambridge, MA, drug developer Xanthus Pharmaceuticals. Xanthus, which Antisoma (LON:[[ticker:ASM]]) acquired in May for $52.2 … Continue reading “British Biotech Antisoma Sees Buyout of Xanthus as Beginning of U.S. Commercial Hub in Cambridge, MA”

Broad Institute Will Sever Administrative—Not Research—Ties with MIT and Harvard, Becoming “Stand-Alone” Organization

When we reported yesterday that the Broad Institute of MIT and Harvard was set to receive a whopping endowment of $400 million from Los Angeles-based billionaire philanthropists Edythe and Eli Broad, we noted that it was rumored that the institute—originally structured as an administrative unit of MIT—was also set to become independent of both MIT … Continue reading “Broad Institute Will Sever Administrative—Not Research—Ties with MIT and Harvard, Becoming “Stand-Alone” Organization”

The “Augmenix” Question: Can Amar Sawhney Do It Again with Latest Hydrogel Startup?

Amar Sawhney has turned a number of products based on his hydrogel inventions into FDA-approved products and rich paydays for his investors. With several successful hydrogel ventures already under his belt, Sawhney is at it again with Augmenix, a Waltham, MA, medical-devices startup developing the versatile materials for an unproven use: To prevent radiation damage … Continue reading “The “Augmenix” Question: Can Amar Sawhney Do It Again with Latest Hydrogel Startup?”

Broad Institute Gets $400M Endowment From Namesakes

Updated Sept. 4 (see below): The Broad Institute of Harvard and MIT, which is focused on genomic research, is planning to announce Thursday morning its receipt of a $400 million endowment from its founding benefactors Eli and Edythe Broad, according to well-placed sources. The $400 million is expected to enhance the resources that investigators at … Continue reading “Broad Institute Gets $400M Endowment From Namesakes”

Corporate Life Sciences VCs on the Rise in New England—the List

Some of the most exclusive clubs in the Boston area aren’t actually clubs at all, they are venture capital firms, where partners hold the power to turn ideas into companies—and make themselves a lot of money in the process. So perhaps it’s not surprising that some big companies would want to get in on the … Continue reading “Corporate Life Sciences VCs on the Rise in New England—the List”

North Shore Biotech Accelerator Wins State Grant

The Massachusetts Technology Collaborative, the state’s development agency for the innovation economy, says it awarded a $50,000 planning grant to support the eventual launch of the North Shore Life Sciences Accelerator in Beverly, MA. The North Shore LS Accelerator plans to provide life sciences startups with low-cost lab space, intros to investors, and other assistance. … Continue reading “North Shore Biotech Accelerator Wins State Grant”

After Cutting Deals With Most of the Big Drug Cos, Sermo CEO Offers Health 2.0 Survival Tip: You Will Not Pay Your Bills with “Ads by Google”

Sermo has garnered the interest of the popular press by drawing doctors into the social networking sphere. Yet among venture capitalists and entrepreneurs the Cambridge, MA, startup has attracted more attention for devising a value proposition to convince the pharmaceutical industry and others to pay for access to its coveted online community of doctors; the … Continue reading “After Cutting Deals With Most of the Big Drug Cos, Sermo CEO Offers Health 2.0 Survival Tip: You Will Not Pay Your Bills with “Ads by Google””

Salient Surgical Cuts $86M IPO

Salient Surgical Technologies (formerly TissueLink), of Dover, NH, filed papers with the SEC to withdraw its proposed $86.25 million initial public offering. The maker of medical devices to seal blood vessels during surgery made its initial filing for the IPO in March.

Indevus Pharma Raises $105M in Debt Sale

Indevus Pharmaceuticals (NASDAQ:[[ticker:INDEV]]), a Lexington, MA, specialty pharmaceutical firm, announced it has raised $105 million in a private placement of non-recourse notes. The company said the sale of the notes, which are secured by royalties from its overactive bladder drug Sanctura, is intended to retire existing debt due next year and fund operations into calendar … Continue reading “Indevus Pharma Raises $105M in Debt Sale”

Helicos Names CTO to Boost R&D

Helicos BioSciences (NASDAQ:[[ticker:HLCS]]), a Cambridge, MA, developer of DNA sequencing systems, announced today it promoted its senior vice president of product development, Bill Efcavitch, to chief technology officer. Helicos said the promotion of Efcavitch and two other appointments in senior research positions are intended to accelerate research and development at the company.

Polaris and MIT’s Langer Meet L’Oreal. Don’t Believe It? There’s “Living Proof”

Move over Mary Kay. Some of the best and brightest brains from MIT and other research powerhouses are applying their scientific prowess to the multibillion-dollar cosmetics industry—and they’ve recruited a veteran of beauty-products giant L’Oreal to pull it off. It’s all happening in the heart of Kendall Square, on Rogers Street (home also to Xconomy’s … Continue reading “Polaris and MIT’s Langer Meet L’Oreal. Don’t Believe It? There’s “Living Proof””

Joseph Finn on the ABCs of Biotech Liquidation: Beware of Collusion!

Companies in innovation sectors often have multiple lives. I followed, for example, the rebirth of Franklin, MA, biotech firm Sontra Medical, which laid off its entire staff to cut expenses in late 2006, and was back in business in less than a year with new investors and a new name, Echo Therapeutics. But when the … Continue reading “Joseph Finn on the ABCs of Biotech Liquidation: Beware of Collusion!”

ACT Licences Pluropotent Cell IP

Advanced Cell Technology, a California-based developer of cellular treatments with R&D labs in Worcester, MA, has licensed technology from Embryome Sciences related to the reprogramming of human cells such as skin cells into embryonic-like cells that can differentiate into a variety of cell types, Embryome reports. The technology from Alameda, CA-based Embryome is intended to … Continue reading “ACT Licences Pluropotent Cell IP”

Covidien Launches Venture Arm

Updated: Medical products giant Covidien (NYSE:[[ticker:COV]]) says it wants to play the venture capital game, announcing this morning that it has launched a corporate VC group to make strategic investments in startups focused on medical devices, diagnostics, and pharmaceuticals. Covidien Ventures, which operates at Covidien’s headquarters in Mansfield, MA, appears to be in sync with … Continue reading “Covidien Launches Venture Arm”

The 2008 New England IPO List: The Dead, the Aging, and the Newly Born

It seems like it’s only a matter of time before more New England tech firms with active registrations for IPOs throw in the towel due to the punishing market for public offerings. Only one area technology company, Merrimack, NH-based GT Solar (NASDAQ: [[ticker:SOLR]]), has completed an IPO this year—and it’s already feeling the pain of … Continue reading “The 2008 New England IPO List: The Dead, the Aging, and the Newly Born”

BitWave Closes $10M Series B

BitWave Semiconductor, a Lowell, MA, maker of RFIC transceivers, announced it has closed a $10 million Series B round to commercialize its “Softtransceiver RFIC.” Participants in the round included previous investors Apex Venture Partners, TVM Capital, and ECentury Capital Partners.

Novelos Raises $3M in Stock Sale

Novelos Therapuetics (OTC:[[ticker:NVLT]]), a Newton, MA, developer of treatments for cancer and hepatitis, announced today that it has raised $3 million through the private placement of 4.6 million shares of common stock for 65 cents per share. Novelos CEO Harry Palmin said in a statement that the proceeds of the private placement would fund the … Continue reading “Novelos Raises $3M in Stock Sale”

Hub’s Slice of J&J’s R&D Investment Pie—New Funds from the Medical-Products Giant for Harvard and CIMIT

It’d be really cool if Johnson & Johnson published a compendium of every nascent technology study it funds through its some $8 billion annual research and development budget—particularly for those of us interested to know which Boston-area institutions are on the receiving end of those J&J R&D dollars. Unfortunately no such master list is publicly … Continue reading “Hub’s Slice of J&J’s R&D Investment Pie—New Funds from the Medical-Products Giant for Harvard and CIMIT”

NitroSecurity Locks up $10M VC Round

NitroSecurity, a Portsmouth, NH, provider of information-security technology, announced today that it’s raised $10 million in venture financing to fund market expansion and new product development. NewSpring Ventures of New Jersey and Pennsylvania led the round.

Icahn Ups Biogen Idec Stake to 6 Percent—Bought Big on Tysabri Woes

Perhaps there was no way that Biogen Idec (NASDAQ:[[ticker:BIIB]]) would see a major drop in its stock price without activist investor Carl Icahn working his way into the storyline. SEC documents filed Monday show that Icahn went on a Biogen stock-buying binge beginning on August 1, the day after Biogen and its partner, Ireland’s Elan, … Continue reading “Icahn Ups Biogen Idec Stake to 6 Percent—Bought Big on Tysabri Woes”

HP to Acquire Colubris of Waltham

Colubris Networks, a privately held provider of wireless networks for large businesses in Waltham, MA, has agreed to be sold to IT powerhouse Hewlett-Packard (NYSE:[[ticker:HPQ]]), based in Palo Alto, CA. The deal, the terms of which weren’t revealed, is slated to close by October 31, 2008.