Acton, MA-based optical networking firm Mintera closed a $19 million Series C round; the deal was led by Polaris Venture Partners and RRE Ventures.
Author: Rebecca Zacks
Rebecca is Xconomy's co-founder. She was previously the managing editor of Physician's First Watch, a daily e-newsletter from the publishers of New England Journal of Medicine. Before helping launch First Watch, she spent a decade covering innovation for Technology Review, Scientific American, and Discover Magazine's TV show. In 2005-2006 she was a Knight Science Journalism Fellow at MIT. Rebecca holds a bachelor's degree in biology from Brown University and a master's in science journalism from Boston University.
Hologic Faces Lawsuit, OLPC Chooses a Distributor, Point Therapeutics Agrees to a Reverse Merger, and More
While we were up to our ears in court documents from iRobot and Genzyme, a whole lot of other stuff was happening in New England technology circles. —With a vote on its proposed $6.2 billion acquisition of Marlborough, MA’s Cytyc (NASDAQ: CYCT) slated for this Thursday, Bedford-based diagnostics and imaging firm Hologic (NASDAQ: HOLX) is … Continue reading “Hologic Faces Lawsuit, OLPC Chooses a Distributor, Point Therapeutics Agrees to a Reverse Merger, and More”
Sermo Bags a Big Pharma Fish
One of the most exciting things about launching Xconomy in such a vibrant tech community as Kendall Square has been the chance to watch our startup neighbors grow, up close and in real time. So when Sermo founder and CEO Daniel Palestrant invited me last week for a second visit to the company, which just … Continue reading “Sermo Bags a Big Pharma Fish”
Biogen Idec on the Block; Icahn’s Interest in Buying the Firm Confirmed
After months of speculation that it might be an acquisition target, Cambridge biotech giant Biogen Idec (NASDAQ: BIIB) announced this evening that it is, indeed, evaluating the possibility of a sale. Billionaire investor Carl Icahn was among an unspecified number of third parties from whom Biogen has received “expressions of interest,” the company said in … Continue reading “Biogen Idec on the Block; Icahn’s Interest in Buying the Firm Confirmed”
Xcellerex Raises $31 Million in a New Round of Venture Financing; Aims to Accelerate Biologics Production
Biomanufacturing of vaccines, protein-based drugs, and other biomolecules is a notoriously tricky endeavor—especially when it comes to scaling up production—so it would stand to reason that commercializing technology to simplify the process would be an attractive business model. That logic seems to be holding true for Marlborough, MA’s Xcellerex, which announced today that it has … Continue reading “Xcellerex Raises $31 Million in a New Round of Venture Financing; Aims to Accelerate Biologics Production”
Genzyme and Bioenvision Win Court’s Permission to Reopen Voting on Troubled Merger Agreement
Am I the only one here who’s having disturbing flashbacks to November 2000? Remember those long weeks when otherwise rational people were driven to distraction trying to find an answer to the once seemingly simple question of who won the vote? We’ve been following Genzyme’s troubled bid to acquire New York-based Bioenvision for months now … Continue reading “Genzyme and Bioenvision Win Court’s Permission to Reopen Voting on Troubled Merger Agreement”
AT&T Goes Shopping in MA, Adobe Does Same, Memsic Files for an IPO, and More
What better way to spend a holiday Monday than catching up on last week’s news? Here are the highlights: —In acquisition news, AT&T announced it had reached an agreement to acquire Cambridge, MA-based Interwise for roughly $121 million in cash. Interwise offers voice, Web, and video conferencing services on a fixed price/unlimited usage basis. The … Continue reading “AT&T Goes Shopping in MA, Adobe Does Same, Memsic Files for an IPO, and More”
Still No Conclusion to Genzyme-Bioenvision Saga
A special meeting of Bioenvision shareholders, continued from yesterday, was adjourned once again this afternoon with no final word on whether or not the shareholders had approved Genzyme’s bid to acquire the New York-based biotech. The meeting was originally convened yesterday so that Bioenvision (NASDAQ: BIVN) shareholders could vote on Cambridge-based Genzyme’s (NASDAQ: GENZ) much-debated … Continue reading “Still No Conclusion to Genzyme-Bioenvision Saga”
Constant Contact Completes $107 Million IPO; Shares Up $10 Out of the Gate
Shares of Waltham, MA-based Constant Contact (NASDAQ: CTCT) jumped $10 out of the blocks, opening trading around 11:30 this morning at $26 per share. The e-mail marketing firm yesterday priced its 6.7 million-share offering (with some 870,000 of the shares coming from stockholders) at $16 per share, which itself was up from the $12 to … Continue reading “Constant Contact Completes $107 Million IPO; Shares Up $10 Out of the Gate”
ViaCell Shares Soar on News of $300 Million Acquisition Deal with PerkinElmer
Shares of Cambridge, MA-based ViaCell (NASDAQ: VIAC) jumped more than 50 percent from yesterday’s close on the late-afternoon news that the company has reached a $300 million agreement to be acquired by Waltham’s PerkinElmer (NYSE: PKI). For PerkinElmer, a $1.55 billion multinational company known as a major manufacturer of scientific and medical equipment, the deal … Continue reading “ViaCell Shares Soar on News of $300 Million Acquisition Deal with PerkinElmer”
Sermo CEO Offers Answers to Xconomy Readers’ Questions About Privacy
I don’t know what you did this past weekend, but I spent a lot of mine watching the virtual fur fly in the comments section of my post from last week about Sermo, the password-protected social network for physicians run by the Kendall Square startup of the same name. That story had focused on Sermo … Continue reading “Sermo CEO Offers Answers to Xconomy Readers’ Questions About Privacy”
Genzyme to Bioenvision Board: Acquisition Offer Price Will Not be Raised
With shareholders of New York-based Bioenvision (NASDAQ: BIVN) set to vote in one week on a controversial proposed merger with Genzyme (NASDAQ: GENZ), the Cambridge, MA-based biotech giant reiterated today that it would not raise its offer for shares of the New York firm. In a letter to the Bioenvision board, Genzyme President Mark J. … Continue reading “Genzyme to Bioenvision Board: Acquisition Offer Price Will Not be Raised”
Sermo Strikes Back: A Physicians’ Online Community Lashes Out Against Bloggers Who Publicize Security Gap
When I saw over the weekend that two different blogs had posted on the apparent ease of hacking into Sermo, the password-protected social network for physicians, my first thought was: “Those docs are going to be pissed.” Sermo, after all, promises physicians a secure, closed environment where they can consult with their peers, and if … Continue reading “Sermo Strikes Back: A Physicians’ Online Community Lashes Out Against Bloggers Who Publicize Security Gap”
Never Mind That IPO–Adnexus Acquired by Bristol-Myers Squibb
Just a month after filing for an $86 million IPO, and less than two months after raising $15.5 million in a Series C financing round, Adnexus Therapeutics announced yesterday that it is being acquired by Bristol-Myers Squibb (NYSE: BMY). Under the terms of the deal Adnexus, which develops biologic therapeutics derived from the protein fibronectin, … Continue reading “Never Mind That IPO–Adnexus Acquired by Bristol-Myers Squibb”
Alnylam and Merck Go Their Separate Ways, TransMedics Files to Go Public, ZipCar Reservation System Ready to Go Anywhere, and More
Another week, another giant inbox full of news. Here are the highlights. —Not long after closing one of New England’s 10 biggest second-quarter venture deals, Andover-based TransMedics filed for an IPO. The firm, which is developing a device for keeping donated organs for transplantation warm and functioning outside of the body, proposed a maximum price … Continue reading “Alnylam and Merck Go Their Separate Ways, TransMedics Files to Go Public, ZipCar Reservation System Ready to Go Anywhere, and More”
Local Boys Make Good: Two Xconomists Win the Day, One Literally
Tuesday was a great day for two of our favorite Xconomists (not that we don’t love all of them), and we’ve been remiss in not giving them a shout-out sooner. First off, Boston University bioengineer Jim Collins, already tapped as a genius by the MacArthur Foundation, among other honors, won an NIH Director’s Pioneer Award. … Continue reading “Local Boys Make Good: Two Xconomists Win the Day, One Literally”
Hearing in IRobot v. Robotic FX Continued Until Monday; Robot-Delivery Deadline Looms
A U.S. District Court hearing scheduled for yesterday in iRobot’s lawsuit against Alsip, IL-based Robotic FX was continued until Monday, a court clerk said today. In the lawsuit, filed in Massachusetts, and in a separate one filed in Alabama, Burlington, MA-based iRobot (NASDAQ: IRBT) has accused the rival firm of infringing on patents for a … Continue reading “Hearing in IRobot v. Robotic FX Continued Until Monday; Robot-Delivery Deadline Looms”
Athenahealth IPO Prices Above Expectations, Soars Out of the Gate
Shares of Watertown, MA-based Athenahealth, which provides online billing and other business services for medical practices, debuted at $30 today, well above the $18.00 per share price set for the firm’s IPO—which itself was well above the $14 to $16 per-share range that the firm projected a couple of weeks ago. (The firm’s co-founder, chairman, … Continue reading “Athenahealth IPO Prices Above Expectations, Soars Out of the Gate”
Market Likes Millennium’s Velcade News; Analysts Not So Sure
Shares of Millennium Pharmaceuticals (NASDAQ: MLNM) got an early morning boost on news that the Cambridge-based biotech has gotten good results in a Phase 3 trial of its cancer drug, Velcade, and plans to seek a new FDA approval for the drug. First approved to much fanfare in 2003 for treating multiple myeloma patients for … Continue reading “Market Likes Millennium’s Velcade News; Analysts Not So Sure”
New MIT Center Seeks to Spark Entrepreneurship in the Developing World
Would-be entrepreneurs interested in creating new technologies and businesses for the developing world got a piece of good news today: International investment group Legatum is donating $50 million to MIT to establish a new center to support just that sort of entrepreneurship. The new Legatum Center for Development and Entrepreneurship will provide fellowships for graduate … Continue reading “New MIT Center Seeks to Spark Entrepreneurship in the Developing World”
Good News and Bad News for University Endowments, ImClone and Repligen Reach Settlement, Venture Deals, Mergers, Acquisitions, and More
Last week left us with lots to talk about, so let’s get right to it. —In venture news, RFID infrastructure firm Tagsys of Cambridge, MA, closed a $16 million second tranche of a Series C round totaling $35 million. Investors included J.P. Morgan, DFJ Esprit, Endeavour, Elliott Associates, Saffron Hill Ventures, and Add Partners. Shelton, … Continue reading “Good News and Bad News for University Endowments, ImClone and Repligen Reach Settlement, Venture Deals, Mergers, Acquisitions, and More”
Just Launched into the Boston VC Orbit: Third Rock Ventures
After months of sparking rumors and fending off the press (me, anyway), Boston’s newest venture capital firm lifted its veil today with the announcement that it is launching its first fund. One glitch: the partners—who include Mark Levin and other veterans of Millennium Pharmaceuticals, among others—evidently didn’t let their media team know before it issued … Continue reading “Just Launched into the Boston VC Orbit: Third Rock Ventures”
Constant Contact Updates IPO Filings, Acknowledges Employees’ Bad Blog Behavior
Seeking to raise nearly $70 million, Waltham-based e-mail marketing firm Constant Contact yesterday outlined terms for its upcoming IPO. Today, in response to our queries, the company acknowledged a bit of bad blogging behavior on the part of some current and former employees during the run-up to the IPO. Constant Contact outlined its expected terms … Continue reading “Constant Contact Updates IPO Filings, Acknowledges Employees’ Bad Blog Behavior”
Sermo: All Cashed Up and Ready to Grow
Turns out I was at least partly right back in July when I wrote that something was up at Sermo, the Kendall Square startup that launched its physicians-only online community a year ago this month. Sermo CEO Daniel Palestrant had to duck out of our interview for a suspiciously impromptu call with his board and … Continue reading “Sermo: All Cashed Up and Ready to Grow”
Court Documents Detail Lead-Up to Genzyme’s Controversial Repurchase of its Biosurgery Division
Just-unsealed federal court documents detail the events leading up to Genzyme’s 2003 repurchase of its biosurgery division, the Boston Globe reports today on its front page. The deal was the subject of a class-action lawsuit filed by shareholders of the biosurgery division who alleged that Genzyme timed the transaction to undervalue the division; Genzyme settled … Continue reading “Court Documents Detail Lead-Up to Genzyme’s Controversial Repurchase of its Biosurgery Division”
Mass Biotech Council’s Image Troubles, Boston Scientific’s Mixed Bag, Another Big IPO in the Offing, and More
The summertime business damper has definitely been lifted. So much was happening at the end of last week that we ran out of time for a Friday round up. But fear not–here are the most interesting developments. —The Massachusetts Biotechnology Council’s image troubles continued, with several members expressing “dismay” over the trade group’s recent direction … Continue reading “Mass Biotech Council’s Image Troubles, Boston Scientific’s Mixed Bag, Another Big IPO in the Offing, and More”
Another Voice Heard in the Genzyme-Bioenvision Takeover Debate: Elliot Associates is “Extremely Dissatisfied”
Shareholders of New York-based Bioenvision (NASDAQ: BIVN) have yet to vote on Genzyme’s (NASDAQ: GENZ) much-maligned $5.60-per-share offer for the firm, but one of them is making its intentions clear now. In a scathing letter to the Bioenvision board dated yesterday, Hedge fund Elliott Associates wrote that it is “extremely dissatisfied with the proposed Genzyme … Continue reading “Another Voice Heard in the Genzyme-Bioenvision Takeover Debate: Elliot Associates is “Extremely Dissatisfied””
Boston’s New Generation of University Spinoffs
You can’t spend much time in Kendall Square without realizing how critical universities are to the local innovation ecosystem. One way to look at the role they play is to look at the startup companies formed around technology invented in academia. That’s exactly what I’m about to do—and if you want to cut to the … Continue reading “Boston’s New Generation of University Spinoffs”
Boston’s New Generation of University Spinoffs: The List
Below are some of the Boston area’s newest university spinoffs—including companies incorporated or formed since January 2006—and the schools from which they spun. For more on how we generated the list and determined the founding date for each (who’d have thought it could be so tricky?), see here. Ascent Therapeutics Sherborn, MA (Tufts, 2006) Ascent … Continue reading “Boston’s New Generation of University Spinoffs: The List”
GlassHouse Garners Funds, Boston Scientific Settles, Akamai Speeds Up, and More
Just in time for the long weekend, a bumper crop of news briefs. Enjoy, but don’t leave the laptop too close to the barbeque. —Framingham firm GlassHouse, which competes with the likes of EMC and IBM Global Services in the data storage and consulting services sector, is supplementing the $64 million it has already raised … Continue reading “GlassHouse Garners Funds, Boston Scientific Settles, Akamai Speeds Up, and More”
VMware Teams Up With the NSA
If you follow the Fox show “24” at all, you know that keeping track of who has access to which top-secret computer systems—and making sure that nobody goes poking around where he shouldn’t—is a huge pain for intelligence analysts and other security personnel. So much of a pain, in fact, that it necessitates user with … Continue reading “VMware Teams Up With the NSA”
What Do Crisis Negotiation, Endoscopy, and Ice Cream Have in Common? MooBella’s Steve Moysey
Lordy, do I love MooBella. First off, the Taunton, MA-based company is developing serve-yourself ice-cream vending machines* that mix and freeze each scoop to order. Then there’s the fact that the whole shebang runs on Linux—don’t know why, but that really cracks me up. And now the company has gone and hired its first chief … Continue reading “What Do Crisis Negotiation, Endoscopy, and Ice Cream Have in Common? MooBella’s Steve Moysey”
Clarus Ventures’ Very Big Deal, Color Kinetics’ Acquisition, VMware’s Upward Trek, and More
It’s been a crazy week here at Xconomy. We’ve suffered a few technical and other difficulties, but (inside joke alert) we’re keeping our chins up. So, it seems, are many local tech firms. —Boston Scientific (NYSE: BSX) amended a $2 billion line of credit and a $5 billion term loan—in part by prepaying $1 billion—in … Continue reading “Clarus Ventures’ Very Big Deal, Color Kinetics’ Acquisition, VMware’s Upward Trek, and More”
The President’s Would-Be Pen Pal: Nobel Laureate Craig Mello
A packed ballroom full of conference goers is avidly waiting for UMass Medical School professor Craig Mello to tell them about RNA interference, or RNAi—the discovery of which earned Mello and his collaborator, Stanford’s Andrew Fire, last year’s Nobel Prize. Mello is not about to disappoint, but the first slides in his PowerPoint are not … Continue reading “The President’s Would-Be Pen Pal: Nobel Laureate Craig Mello”
Craig Mello’s Letter to President Bush
Editor’s note: The following is a letter written by Nobel Laureate Craig Mello to President George W. Bush on November 26, 2006. For more on the letter and its outcome see this post. Dear Mr. President: I wanted to take this opportunity to make you aware of an exciting advance in medical research. This discovery, … Continue reading “Craig Mello’s Letter to President Bush”
Craig Mello’s Letter to Governor Patrick
Editor’s note: The following is a letter written by Nobel Laureate Craig Mello to President George W. Bush on February 21, 2007. For more on the letter and its fate see this post. Dear Governor Patrick: It is a pleasure to write in response to your recent note. In a year in which I have … Continue reading “Craig Mello’s Letter to Governor Patrick”
iRobot Files Lawsuits Charging Infringement on Combat Robot Patents
Commercial and military robot maker iRobot (NASDAQ: IRBT) announced today that it has filed a pair of lawsuits against a former employee and his company, claiming infringement on patents for iRobot’s PackBot military robot and misappropriation and misuse of confidential information related to the machine. iRobot, based in Burlington, MA, filed the patent-infringement suit against … Continue reading “iRobot Files Lawsuits Charging Infringement on Combat Robot Patents”
Color Kinetics Sale on Track, Boston Scientific and Amgen Retrench, & More
I’m off for the weekend (for the first time in a year or so—did we mention we finally closed our financing?), but there’s a lot of interesting stuff going on in the local tech scene for those of you who’d still like to think about it over the next couple of days. —The $791 million … Continue reading “Color Kinetics Sale on Track, Boston Scientific and Amgen Retrench, & More”
Icahn’s New Stake in Biogen Idec—Doing the Math
I feel bad even mentioning it, because it’s exactly the sort of mistake I’d make but, for any of you who read the New York Post‘s business briefs yesterday, a little clarification: Billionaire Carl Icahn did not just take a “more than 9 percent” stake in Biogen Idec. The real scoop, revealed in SEC filings … Continue reading “Icahn’s New Stake in Biogen Idec—Doing the Math”
Flagship Principal Named Tech Review Innovator of the Year
Our old friends at Technology Review announced their innovator of the year today: Flagship Ventures’ David Berry. Steve Hall has a nice profile of Berry, a Harvard-and-MIT-trained MD/PhD who has been a principal at Flagship for the last couple of years. Hall focuses particularly on Berry’s work with San Carlos, CA-based LS9, a synthetic-biology firm … Continue reading “Flagship Principal Named Tech Review Innovator of the Year”
Mass Biotech Council Poaches Patrick Administration Insider to Fill Top Post
The Massachusetts Biotechnology Council (MBC) announced today that it has filled its top post. Robert Coughlin, currently Governor Deval Patrick’s undersecretary for business development, will take over the reins as MBC president by October. Coughlin fills a slot left open since January, when MBC’s then-president, Thomas M. Finneran, resigned shortly after pleading guilty to felony … Continue reading “Mass Biotech Council Poaches Patrick Administration Insider to Fill Top Post”
Cleaning the Slate, Raising Funds, and Filling the Executive Suite
Last week saw two key local firms taking steps to clean up some years-old messes. Here’s more on that, and a roundup of the rest of the week’s news. —Genzyme (NASDAQ: GENZ) announced it had reached an agreement-in-principle to pay $64 million to settle a four-year-old class action lawsuit brought by shareholders of a Genzyme … Continue reading “Cleaning the Slate, Raising Funds, and Filling the Executive Suite”
Genzyme’s Myozyme Production Problems Fuel Online Biogenerics Debate
The last couple of days have seen a flurry of blogging about biogenerics (or biosimilars or follow-on biologics, depending on your take on the issue), prompted in part by a Wall Street Journal article about Genzyme’s troubles scaling up production for a recently approved enzyme drug. Myozyme, approved by the FDA last year for the … Continue reading “Genzyme’s Myozyme Production Problems Fuel Online Biogenerics Debate”
Follow-Up: Alnylam’s Biodefense Contract the Program’s Largest
Just a quick follow-up on yesterday’s post about Alnylam’s $39 million contract with the U.S. Defense Threat Reduction Agency to develop an RNAi-based treatment for infection with hemorrhagic fever viruses. We just heard back from the folks at DTRA. Not only is Alnylam (NASDAQ:ALNY) the only New England firm to win a contract this year … Continue reading “Follow-Up: Alnylam’s Biodefense Contract the Program’s Largest”
More Government Dollars for Alnylam Biodefense Initiative
Cambridge-based Alnylam Pharmaceuticals (NASDAQ:ALNY) announced today that it has been awarded a three-year, $39 million contract with the U.S. Defense Threat Reduction Agency to develop an RNAi-based treatment for infection with hemorrhagic fever viruses such as those that cause Ebola and Marburg disease. The contract brings the amount of money Alnylam has raised via federal … Continue reading “More Government Dollars for Alnylam Biodefense Initiative”
Good News for Genzyme, Bad News for Boston Scientific, and all the Other News We Didn’t Get to This Week
The recent heat wave seems to have driven members of the local tech community into their offices rather than out to the beach, because this week has seen too many announcements for us to keep up with. Here a few of the most interesting ones: —After a string of disappointing clinical-trial results and a protracted … Continue reading “Good News for Genzyme, Bad News for Boston Scientific, and all the Other News We Didn’t Get to This Week”
Newcomer Alert: Digital-Media Veteran Larry Kramer Joins Polaris
Yesterday brought the news that Larry Kramer—the founder of MarketWatch and former president of CBS Digital Media—has signed on as a senior advisor to Waltham-based Polaris Venture Partners, where he will help shape the venture giant’s digital-media portfolio. This morning we caught up with Kramer (via phone) in Macau, which he describes as a Vegas … Continue reading “Newcomer Alert: Digital-Media Veteran Larry Kramer Joins Polaris”
FDA Panel Votes in Favor of Biogen’s Tysabri for Crohn’s Disease
Despite numerous gloomy predictions in the media over the last few days, a joint meeting of two FDA advisory committees went well for Biogen Idec (BIIB) yesterday. The panel voted 12-to-3 in favor of recommending that Tysabri (natalizumab)—codeveloped with Elan and already approved for multiple sclerosis—be approved for treating moderate-to-severe Crohn’s disease in patients for … Continue reading “FDA Panel Votes in Favor of Biogen’s Tysabri for Crohn’s Disease”
Sequencing the DNA of Local Innovation
A little over a week ago, legendary venture capitalist Esther Dyson explained her reasons for being one of the first 10 people to have their genomes sequenced—and made publicly available—for Harvard Medical School professor George Church’s Personal Genome Project. Yesterday, Church revealed all but one of the rest of the folks on that list. (One … Continue reading “Sequencing the DNA of Local Innovation”
Reeves to Menino: Cambridge is the Brains of Biotech
Boston’s mayor, Tom Menino, isn’t known for precise comments to the media (they don’t call him Mumbles for nothing) but something in Tuesday’s Boston Globe struck us as wacky, even for him. In an article about a big new lab that Joslin Diabetes Center is building in the Longwood Medical Area, Jeffrey Krasner wrote: “Menino … Continue reading “Reeves to Menino: Cambridge is the Brains of Biotech”