(Updated—6:15 pm ET, 6/01/10) Follica has raised more money for its quest against hair follicle disorders like male pattern baldness. The biotech startup, which is developing drugs that could spur the formation of new hair follicles, has raised $7.5 million in equity financing, according to an SEC filing. Daphne Zohar, a Follica co-founder and managing … Continue reading “Follica, the Biotech With Potential Drug Against Baldness, Nabs $7.5M Venture Financing”
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.
Covidien to Buy Ev3 for $2.6B
Covidien (NYSE:[[ticker:COV]]), a healthcare products company, says today it has inked a deal to buy the medical devices firm ev3 (NASDAQ:[[ticker:EVVV]]) for $22.50 per share in cash or a total of $2.6 billion. Plymouth, MN-based ev3, founded in 2000, specializes in medical devices for treating vascular disease in certain parts of the body outside of … Continue reading “Covidien to Buy Ev3 for $2.6B”
Zipcar Files to Take $75M IPO Ride
Zipcar has set its sights on a new funding vehicle: An initial public offering. The Cambridge, MA-based car sharing service says it wants to raise $75 million in an IPO, according to an SEC filing. The company, founded in 2000, has changed the way many people think about renting cars. Its members can reserve cars … Continue reading “Zipcar Files to Take $75M IPO Ride”
Thermo Buys Fermentas for $260M
Waltham, MA-based Thermo Fisher Scientific has struck a deal to acquire Fermentas International for $260 million in cash, Thermo reports today. Fermentas, based in Burlington, Ontario, makes and sells life sciences research materials such as enzymes and reagents as well as diagnostic tools. The firm, which has 500 employees, had 2009 revenue of $54 million. … Continue reading “Thermo Buys Fermentas for $260M”
Logical Therapeutics Closes $16.9M C Round
Logical Therapeutics, a developer of drugs for inflammatory conditions, says that it has closed a $16.9 million in a Series C round of funding, according to a press release. Xconomy reported last week that the Waltham, MA-based firm had raised $10 million of a planned $16.9 million round of financing, based on online records from … Continue reading “Logical Therapeutics Closes $16.9M C Round”
Quanterix Uses Fiber Optics to Find Cancer Protein, Nears New Funding Round
Both academics and industry have long sought ways to spot cancer in patients before it becomes deadly. This week, Cambridge, MA-based Quanterix said its single-molecule detection system could potentially find signs of prostate cancer recurrence lurking in the blood years before traditional lab tests. The study, published in Nature Biotechnology, showed that Quanterix’s technology detected … Continue reading “Quanterix Uses Fiber Optics to Find Cancer Protein, Nears New Funding Round”
Tesaro Nabs $20M Series A Financing for Cancer Drugs, $40M More in Reserve
A team of cancer drug veterans has formed a new company in Boston. The company, Tesaro, says today that it has raised $20 million in a Series A round of funding from the investment firm New Enterprise Associates and its founders. Tesaro says it plans to acquire and develop cancer drugs and other oncology products. … Continue reading “Tesaro Nabs $20M Series A Financing for Cancer Drugs, $40M More in Reserve”
Expressor Software Secures $4.5M
Expressor Software, a provider of data-integration software, reported yesterday that it raised $4.5 million in expansion capital from three previous investors, Commonwealth Capital Ventures, Globespan Capital Partners, and Sigma Partners. According to PE Hub, the company, launched in May 2008, had previously brought in $15.6 million. The Burlington, MA-based firm’s semantic data integration software uses … Continue reading “Expressor Software Secures $4.5M”
Genzyme Gets FDA Nod for Pompe Drug
Cambridge, MA-based Genzyme (NASDAQ:[[ticker:GENZ]]) has won FDA approval to sell its Pompe disease drug alglucosidase alpha (Lumizyme) made in 4,000-liter batches at its plant in Geel, Belgium, the company reported this morning. The FDA approved the drug for treating patients who are at least 8 years old with Pompe, a rare genetic disease that robs … Continue reading “Genzyme Gets FDA Nod for Pompe Drug”
Avila Therapeutics Strikes $209M Lung Cancer Deal with Clovis Oncology
Avila Therapeutics has a new target for its unique class of drugs—lung cancer. The Waltham, MA-based biotech startup has clinched a $209 million deal with Clovis Oncology for drugs against mutated tumors in the lungs, according to the companies. The companies are keeping a tight lid on the details of the deal, including how much … Continue reading “Avila Therapeutics Strikes $209M Lung Cancer Deal with Clovis Oncology”
PatientKeeper’s iPad App Lets Docs Juggle Tasks, Furthers Firm’s Mobile Ambitions
PatientKeeper has worked fast to make its physician software available on whichever smartphones or mobile devices doctors like to use. So it makes sense for the Newton, MA-based firm to expand its menu of mobile applications this month to the iPad, Apple’s hot new tablet computing device. The company develops software that automates a physician’s … Continue reading “PatientKeeper’s iPad App Lets Docs Juggle Tasks, Furthers Firm’s Mobile Ambitions”
Constant Contact Buys NutshellMail
Constant Contact, the Waltham, MA-based provider of online marketing software for small organizations, says today it has bought NutshellMail for an undisclosed sum. Menlo Park, CA-based Nutshellmail’s software enables small businesses to monitor social networking sites like Facebook and LinkedIn and get the results delivered to their e-mail inboxes, according to Constant Contact (NASDAQ:[[ticker:CTCT]]). Mark … Continue reading “Constant Contact Buys NutshellMail”
Mascoma’s Plan for Ethanol Plant in Michigan Likely Delayed, CEO Says
Lebanon, NH-based Mascoma has made strides with its process for producing ethanol from non-food plants such as wood chips and grass. Yet the firm is likely to delay the start of production at its first planned commercial facility, in northern Michigan, company CEO Bill Brady says. Mascoma had been aiming to open a plant in … Continue reading “Mascoma’s Plan for Ethanol Plant in Michigan Likely Delayed, CEO Says”
Cyntellect Finds $9M More
San Diego-based Cyntellect, a provider of biotech research instruments, has raised $9 million in equity, debt, and rights funding, according to an SEC filing. The company told VentureWire that the funding added to its Series E round, in which the firm raised $16 million last year, from undisclosed investors. Cyntellect’s instruments are designed to analyze, … Continue reading “Cyntellect Finds $9M More”
Sonus CEO Nottenburg Leaving
Sonus Networks (NASDAQ:[[ticker:SONS]]), a Westford, MA-based provider of telecommunications network products, says that its director and CEO, Richard Nottenburg, plans to step down from his posts by March 2011. Nottenburg, a former Motorola executive who has helmed Sonus since June 2008, will help the firm’s board find his successor, according to the company. He’s led … Continue reading “Sonus CEO Nottenburg Leaving”
LightLab, Medical Imager with MIT Roots, Bought by St. Jude for $90M
It’s been a big two days for LightLab Imaging. Good Morning America featured the Westford, MA, firm’s coronary imaging technology on national television today. And St. Jude Medical, the cardiac devices powerhouse, revealed late yesterday that it has bought the small firm for about $90 million in cash. St. Paul, MN-based St. Jude (NYSE:[[ticker:STJ]]) is … Continue reading “LightLab, Medical Imager with MIT Roots, Bought by St. Jude for $90M”
Seventh Sense, Rox Anderson and Bob Langer Startup, Seeks to Collect Blood With No Pain
Seventh Sense Biosystems wants to remove some of the hassle, expense, and pain of collecting blood for medical tests. The secretive startup has recently begun talks with major healthcare companies about its technology, which includes a device for collecting blood samples that almost anyone ought to be able to use without causing pain, says Doug … Continue reading “Seventh Sense, Rox Anderson and Bob Langer Startup, Seeks to Collect Blood With No Pain”
Arsenal Medical, Startup Linked to Langer and Whitesides, Adds $10M
Arsenal Medical, a stealthy biotech startup based in Watertown, MA, has tapped its existing base of investors to pump in another $10 million in the second installment of its Series C round of funding, R. Scott Rader, the company’s CEO, says. The financing, which was initially revealed in an SEC filing that went online yesterday, … Continue reading “Arsenal Medical, Startup Linked to Langer and Whitesides, Adds $10M”
$2.2M for Cytogel
Cytogel Pharma, a Darien, CT-based biopharmaceutical development firm, has raised $2.2 million in equity and rights funding, according to an SEC filing. The company, founded in 2002, says that its strategy is to license promising drugs with the intent of eventually selling them to larger companies, according to its website. Centripetal Capital Partners, based in … Continue reading “$2.2M for Cytogel”
Zeo, Maker of Personal Sleep Tracker, Hunting for More Regis Philbin Magic
When celebrity Regis Philbin talked up the benefits of Zeo’s sleep tracking device on his TV show last June, the Newton, MA-based startup sold more than 1,000 units within three days, says Dave Dickinson, the firm’s CEO. Zeo, founded as Axon Labs in 2003 by three Brown University students, is nearly a year into marketing … Continue reading “Zeo, Maker of Personal Sleep Tracker, Hunting for More Regis Philbin Magic”
Helicos Halves Work Force
Helicos BioSciences, a Cambridge, MA-based developer of genetic analysis technology, says it has cut 40 jobs or half its remaining work force this month to trim its operating expenses. The company (NASDAQ:[[ticker:HLCS]]) wants to apply its single-molecule gene sequencing technology in the molecular diagnostics field, after life sciences researchers have been slow to adopt the … Continue reading “Helicos Halves Work Force”
Cambridge Endo Gets $3M
Cambridge Endoscopic Devices, a developer of laparoscopic instruments, has raised $3 million of a $7.5 million round of equity funding, according to an SEC filing. The filing says there was one investor in the round, but the filing does not identify the name of the investor. The Framingham, MA-based company, formed in 2004, has developed … Continue reading “Cambridge Endo Gets $3M”
Stemgent Finds $5.6M More
Stemgent, a provider of consumable research materials for stem cell scientists, has raised $5.6 million of a planned $10.1 million round of equity funding, according to an SEC filing. The funding includes the conversion of promissory notes. The company, which has offices in Cambridge, MA, and San Diego, previously raised $14 million in March 2009 … Continue reading “Stemgent Finds $5.6M More”
LocaModa Takes in $150K
LocaModa, a provider of place-based social media software, has raised $150,000 of a proposed $1.5 million equity, debt, and rights funding, according to an SEC filing. The startup previously brought in $900,000 in equity funding, according to a June 2009 regulatory filing. VentureWire reports that the firm has raised funding from Dace Ventures, of Waltham, … Continue reading “LocaModa Takes in $150K”
Genzyme in “Tough Spot” with Icahn Proxy Challenge—CEO Termeer Courting Key Shareholders
With his leadership under attack and FDA regulators cracking down on his company’s manufacturing, Genzyme chairman and CEO Henri Termeer is traveling to meet with the firm’s top 30 shareholders over the next month. The road trip, discussed yesterday in an interview with Genzyme spokesman Bo Piela, comes just over a month before the company’s … Continue reading “Genzyme in “Tough Spot” with Icahn Proxy Challenge—CEO Termeer Courting Key Shareholders”
Sand 9 Finds $12M to Improve Wireless Devices
Sand 9 has secured enough venture capital to grow from a pre-revenue startup to—if all goes as planned—a profitable company, Vince Graziani, the firm’s CEO, says. His Cambridge-based startup, a developer of tiny timer and frequency control technology for wireless devices, has raised $12 million in a Series B round of funding led by a … Continue reading “Sand 9 Finds $12M to Improve Wireless Devices”
$1.65M for Mintera
Mintera, an Acton, MA-based maker of advanced optical switches, has reeled in $1.65 million in equity and debt funding, according to an SEC filing. Terence Unter, the company’s CEO, was not immediately available for comment this morning. The company’s previous investors include Court Square Ventures, JDSU, Polaris Venture Partners, Portview Communications Partners, RRE Ventures, and … Continue reading “$1.65M for Mintera”
Clinical Data Seeks to Challenge Lilly, Pfizer in Antidepressant Market
Big competitors don’t scare Drew Fromkin. The CEO of Clinical Data says that the small Newton, MA-based drug developer (NASDAQ:[[ticker:CLDA]]) is willing to take on industry giants in the multibillion-dollar U.S. market for antidepressants. The company sent in its application for approval of its experimental antidepressant, vilazodone, to the FDA in late March. It’s too … Continue reading “Clinical Data Seeks to Challenge Lilly, Pfizer in Antidepressant Market”
Born in Silicon Valley, Founder Institute Expands to Boston
Attention first-time CEOs: the Founder Institute has found its way to Boston. The training and mentorship program for entrepreneurs, initially launched last year in Silicon Valley, is recruiting startup entrepreneurs for its first Boston session starting June 30, according to the program’s website. The four-month program aims to give beginner tech CEOs what they need … Continue reading “Born in Silicon Valley, Founder Institute Expands to Boston”
Doug Fambrough Reduces Role at Oxford Bioscience Partners, Becomes CEO of Portfolio Company Dicerna Pharma
Oxford Bioscience Partners is losing one of its top general partners, Doug Fambrough, who has left his full-time role at the Boston venture firm to become CEO of Dicerna Pharmaceuticals. Oxford is not currently investing in new companies, Fambrough says, and he told his partners in recent weeks that he could better serve the firm … Continue reading “Doug Fambrough Reduces Role at Oxford Bioscience Partners, Becomes CEO of Portfolio Company Dicerna Pharma”
Athenahealth Paying Dearly to Take on Larger Rivals
Athenahealth is a high-flier in the Boston business community, led by the outspoken and forceful Jonathan Bush. Bush, however, openly admits that his Watertown, MA-based company (NASDAQ:[[ticker:ATHN]]) is relatively unknown outside of local business and technology circles—including among most U.S. physicians. Athena has been ramping up efforts to raise its profile among doctors, the target … Continue reading “Athenahealth Paying Dearly to Take on Larger Rivals”
Sanofi-Aventis to Aid Startups in Massachusetts
Sanofi-Aventis, the French drug powerhouse that has one of its research sites in Cambridge, MA, has agreed to contribute $500,000 over the next two years to a state program that provides financing to life sciences startups in Massachusetts, according to the Massachusetts Life Sciences Center, which administers the program. The program is one of several … Continue reading “Sanofi-Aventis to Aid Startups in Massachusetts”
Glaxo Stops Study of Sirtris “Red Wine” Drug in Cancer Patients
There’s bad news this week about one of the much-hyped drug candidates based on the red wine chemical called resveratrol. Several news outlets are reporting that safety concerns have prompted GlaxoSmithKline to halt a mid-stage clinical trial of the drug, called SRT501, which the London-based drug giant gained in its $720 million buyout of Sirtris … Continue reading “Glaxo Stops Study of Sirtris “Red Wine” Drug in Cancer Patients”
Ariad Gets $69M in Revised Merck Deal
Cambridge, MA-based Ariad Pharmaceuticals (NASDAQ:[[ticker:ARIA]]) reports this morning that it has amended its July 2007 agreement with a unit of the drug giant Merck & Co. for the development of Ariad’s experimental cancer drug, ridaforolimus, which is in late-stage clinical development for treating certain soft tissue and bone sarcomas. The revised pact gives Merck (NYSE:[[ticker:MRK]]) … Continue reading “Ariad Gets $69M in Revised Merck Deal”
Icahn Calls Genzyme’s Manufacturing “Broken,” Advises Against Termeer’s Re-Election to Board
Billionaire investor Carl Icahn ratcheted up his campaign to get himself and three of his associates elected to Genzyme’s board of directors next month, telling shareholders that the Cambridge, MA-based biotechnology company’s manufacturing system is “broken,” according to a proxy statement filed with the SEC today. Icahn, who controls 4.9 percent of Genzyme’s (NASDAQ:[[ticker:GENZ]]) common … Continue reading “Icahn Calls Genzyme’s Manufacturing “Broken,” Advises Against Termeer’s Re-Election to Board”
Link Medicine Ups Third Round to $45M, Taking Aim at Alzheimer’s and Parkinson’s
Link Medicine has wrapped up its Series C round at $45 million, $5 million more than the $40 million the developer of drugs for neurodegenerative diseases said it would raise in the financing in September 2008, says Michael Fitzgerald, the company’s financial chief. The Cambridge, MA-based biotech company finished the venture round with a third … Continue reading “Link Medicine Ups Third Round to $45M, Taking Aim at Alzheimer’s and Parkinson’s”
Using MIT-Harvard Technology, Ligon Discovery Speeds Up Search for New Drugs
Ligon Discovery has been discovered, and I could argue that I was there the moment it happened. Patrick Kleyn, co-founder and CEO of Ligon, was sitting in the back of a crowded conference for drug industry dealmakers in Harvard Square last month when a senior pharmaceutical executive on an industry panel noted Kleyn’s fledgling firm … Continue reading “Using MIT-Harvard Technology, Ligon Discovery Speeds Up Search for New Drugs”
Raised in a General Motors Family, Jason Forcier Driving Growing Auto Battery Biz for A123 Systems
[Updated and corrected, 5/4/10, 1:15 pm ET] Jason Forcier was raised in Flint, MI, a city whose economic woes have been tied to the decline of the U.S. auto industry. Now he’s grown up and heading efforts at a growing company called A123 Systems to make advanced batteries for a new generation of energy-efficient cars … Continue reading “Raised in a General Motors Family, Jason Forcier Driving Growing Auto Battery Biz for A123 Systems”
Averting “Disaster” in Healthcare: Xconomy Forum at MIT Tackles Big Problems and Potential Technology Fixes
There’s perhaps no better place in the Boston area to talk about the future use of information technology in healthcare than the modern building in Kendall Square that houses the MIT Media Lab. The abundant windows and glass interior walls allow natural light to spill onto researchers as they advance new technologies to transform healthcare. … Continue reading “Averting “Disaster” in Healthcare: Xconomy Forum at MIT Tackles Big Problems and Potential Technology Fixes”
Gene Network Sciences Using Supercomputing to Match Patients with a Drug That Works
Health insurers have wasted billions of dollars on reimbursing drugs that don’t work for certain patients. But Cambridge, MA-based Gene Network Sciences might have a cure for this spending ailment. It is using supercomputing technology to build databases that can match patients with the most suitable drugs or other treatments, company CEO Colin Hill says. … Continue reading “Gene Network Sciences Using Supercomputing to Match Patients with a Drug That Works”
Charles River Labs to Buy Chinese R&D Powerhouse WuXi for $1.6B
The world of outsourced drug research and development might get a lot smaller. Charles River Laboratories International is aiming to buy the Chinese R&D services firm WuXi PharmaTech for a whopping $1.6 billion, the companies announced this morning. Wilmington, MA-based Charles River (NYSE:[[ticker:CRL]]) reported that it plans to gobble up Shanghai-based WuXi in a deal … Continue reading “Charles River Labs to Buy Chinese R&D Powerhouse WuXi for $1.6B”
Aragon Pharmaceuticals Moves to First Clinical Trial with $22M
Venture capitalists are placing a big bet on a San Diego startup’s new approach to treating cancers by targeting certain hormones. Aragon Pharmaceuticals reports this morning that it plans to use $22 million raised in its Series B round of funding to advance its lead drug for prostate cancer into an initial clinical trial. Aragon, … Continue reading “Aragon Pharmaceuticals Moves to First Clinical Trial with $22M”
Sirtris Vet Michelle Dipp Takes Over Key Role at Glaxo as Westphal Returns to VC
From the moment GlaxoSmithKline acquired Cambridge, MA-based Sirtris Pharmaceuticals about two years ago for $720 million, the pharma giant said it wanted two of Sirtris’ principals, Christoph Westphal and Michelle Dipp, to help it connect with some of the best people and biotech ideas in Boston. That’s still true today, although the specific roles for … Continue reading “Sirtris Vet Michelle Dipp Takes Over Key Role at Glaxo as Westphal Returns to VC”
Genzyme Expects $175M Expense for Manufacturing Problems in Allston
Genzyme has given its first-quarter 2010 earnings a $175 million haircut. The Cambridge, MA-based biotech firm (NASDAQ:[[ticker:GENZ]]) said today that it expects to pay that amount to the FDA due to deficiencies at its manufacturing plant in Allston, MA. The company and the FDA are negotiating terms of a consent decree, under which the firm … Continue reading “Genzyme Expects $175M Expense for Manufacturing Problems in Allston”
Christoph Westphal Resigns as Sirtris CEO, Takes Over Glaxo’s SR One Venture Arm
Christoph Westphal is leaving his CEO job at Sirtris Pharmaceuticals, the Cambridge, MA-based developer of drugs that target genes linked to the aging process, to get back into the venture capital game, according to an e-mail Westphal sent to friends and colleagues as well as Xconomy. Westphal says in his note that he is taking … Continue reading “Christoph Westphal Resigns as Sirtris CEO, Takes Over Glaxo’s SR One Venture Arm”
Learn How EMC, Microsoft, and Other Technology Giants Are Navigating the Evolving Healthcare Landscape at Next Week’s Xconomy Forum
Big technology companies are playing a major role in shaping the health IT field here in Boston and beyond. That is why we’ve asked healthcare leaders from EMC and Microsoft to present their insights at our “Healthcare In Transition” forum next week at the MIT Media Lab (register here). EMC, for instance, is exploring different … Continue reading “Learn How EMC, Microsoft, and Other Technology Giants Are Navigating the Evolving Healthcare Landscape at Next Week’s Xconomy Forum”
Dyax in $12M Royalty Deal
Dyax (NASDAQ:[[ticker:DYAX]]), a Cambridge, MA-based biotech company, reports today that it has sold its rights to royalties and fees from sales of a hemophilia treatment it discovered to Paul Capital Healthcare for up to $12 million. The deal includes a $10 million upfront payment and up to $2 million in milestone payments tied to sales … Continue reading “Dyax in $12M Royalty Deal”
Javelin Pharma Dumps Myriad for Hospira
Javelin Pharmaceuticals (AMEX:[[ticker:JAV]]), a Cambridge, MA-based developer of pain treatments, reports today that it has nixed its merger agreement with Myriad Pharmaceuticals (NASDAQ:[[ticker:MYRX]]) and accepted a $145 million buyout offer from the specialty drugmaker Hospira. Lake Forest, IL-based Hospira (NYSE:[[ticker:HSP]]) plans to begin its tender offer to acquire shares of Javelin’s common stock on Wednesday … Continue reading “Javelin Pharma Dumps Myriad for Hospira”
Celgene Pumps $130M Upfront into Agios Pharma for Drugs that Starve Cancer Cells
[Updated, 4/15/10, 11:07 am ET—See editor’s note] Hungry cancer cells beware. Cambridge, MA-based Agios Pharmaceuticals has become $130 million richer through its new deal with the venerable drugmaker Celgene to advance drugs intended to starve cancer cells to death, the companies report this morning. Summit, NJ-based Celgene (NASDAQ:[[ticker:CELG]]) is paying big bucks to Agios in … Continue reading “Celgene Pumps $130M Upfront into Agios Pharma for Drugs that Starve Cancer Cells”
Foundation Medicine Raises $25M to Get to the Bottom of Cancer Genomes
The trick to beating cancer could be a single test that shows all known genetic traits in each person’s tumor, and that also matches those results to the best treatments. Boston-based Foundation Medicine reports today that it has raised the first part of a planned $25 million round of Series A venture funding to make … Continue reading “Foundation Medicine Raises $25M to Get to the Bottom of Cancer Genomes”