Category: Boston

The Spirit of Entrepreneurship Lives in Silicon Valley—A Report from The MIT Sloan Tech Trek

The three asses of entrepreneurship—A smart-ass team with a kick-ass product in a big-ass market: Never before has entrepreneurship been so succinctly captured as in this line coined by Jeff Clavier of Softtech VC. I met Jeff during the Silicon Valley “tech trek” organized by the MIT Sloan School of Management earlier this month. As … Continue reading “The Spirit of Entrepreneurship Lives in Silicon Valley—A Report from The MIT Sloan Tech Trek”

Venture Café Finds Permanent Space Amid Comings and Goings in Kendall Square

‘Tis the season for moving in and moving out for the startup community in Kendall Square. This morning, we heard some news from Tim Rowe, the CEO and co-founder of the Cambridge Innovation Center (CIC), about a new permanent location for the Venture Café, a popular gathering place for the innovation community. Venture Café “alpha” … Continue reading “Venture Café Finds Permanent Space Amid Comings and Goings in Kendall Square”

Philanthropist John Flatley Starts Venture Group to Back New Cystic Fibrosis Treatments

John Flatley, a real estate developer and philanthropist, has founded an investment group called Flatley Venture Capital to back life sciences startups with potential treatments for the genetic disease cystic fibrosis. Flatley, who has a close family member with the disease, told me he launched the venture group within the last few months. Flatley Venture … Continue reading “Philanthropist John Flatley Starts Venture Group to Back New Cystic Fibrosis Treatments”

Skyhook Motion For Preliminary Injunction Shot Down in Lawsuit Against Google; CEO Still Hopeful in Case

Boston-based mobile software maker Skyhook Wireless hasn’t been able to prevent Google from setting rules that Skyhook says shut its location-finding technology out of phones running the Android platform—not yet, anyway. Last September, the startup filed a lawsuit in Massachusetts’ Suffolk County Superior Court against Mountain View, CA-based Google, claiming that the company had interfered … Continue reading “Skyhook Motion For Preliminary Injunction Shot Down in Lawsuit Against Google; CEO Still Hopeful in Case”

EnerNOC Buys M2M for Its Wireless Tech and Utility Contracts in California, Midwest

[Updated 3:30 pm with financial terms. See below] EnerNOC, the Boston-based energy management firm (NASDAQ: [[ticker:ENOC]]), continues to look west for its acquisitions. The company announced today it has bought M2M Communications, a Boise, ID-based wireless technology company that has key contracts with energy utilities in California and the Midwest. Financial terms of the deal … Continue reading “EnerNOC Buys M2M for Its Wireless Tech and Utility Contracts in California, Midwest”

IWalk Before You Run: MIT Prosthetics Startup Ramps Up Operations With New VC Money

If you’re lucky, you probably only worry about your feet when something goes wrong—if you break a toe or sprain your ankle, say. In daily life, most people don’t marvel at the natural machinery that lets them navigate icy sidewalks, step over obstacles, or go up and down stairs with nary a second thought. (I’ll … Continue reading “IWalk Before You Run: MIT Prosthetics Startup Ramps Up Operations With New VC Money”

Amgen’s R&D Chief, Roger Perlmutter, on Why BioVex’s Cancer-Fighting Virus Is Worth $1B

Roger Perlmutter, the guy who runs R&D at the largest biotech company in the world, is an immunologist by training. So it shouldn’t be any surprise that he’s fascinated by recent advances in which scientists have shown they can harness the immune system to fight tumors. Now he’s acting on that emerging knowledge of cancer … Continue reading “Amgen’s R&D Chief, Roger Perlmutter, on Why BioVex’s Cancer-Fighting Virus Is Worth $1B”

The New Normal for Biotech Startups

The structural changes roiling the pharmaceutical sector are driving innovation of biotech business models. With shrinking operating margins, patent expirations, a paucity of new product launches, significant reimbursement pressure, and an unpredictable regulatory environment—Big Pharma’s high risk bets on early stage biotechs of the past decade look cavalier through the lens of the current market … Continue reading “The New Normal for Biotech Startups”

Myriant Gets $60M, BioVex Bought By Amgen, Raindance Wraps Up $37.5M, & More Boston-Area Deals News

The past week has been all about reflecting on venture data from Q4 2010, but we also spotted some new financings, partnership deals, and acquisitions for New England’s tech and life sciences firms. —Well, we did write about the top 10 venture deals in the Boston area from last quarter, based on data the MoneyTree … Continue reading “Myriant Gets $60M, BioVex Bought By Amgen, Raindance Wraps Up $37.5M, & More Boston-Area Deals News”

LiquidPiston Obtains $5,000,000 Series B Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=6a8ac719-99bb-4010-a57f-57a51809425e&Preview=1 Date 1/26/2011 Company Name LiquidPiston Mailing Address 21C Old Windsor Road Bloomfield, CT 06002 Company Description LiquidPiston, Inc. has conceptualized a new patent pending internal combustion engine architecture, which promises to drastically improve fuel efficiency and power density compared to existing engines. Our engine may run as efficient as fuel cells … Continue reading “LiquidPiston Obtains $5,000,000 Series B Financing Round”

Cartera Commerce Garners $16,370,663 New Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b8508a32-e484-4b8e-8f99-5f5f50ad6cb6&Preview=1 Date 1/26/2011 Company Name Cartera Commerce Mailing Address One Cranberry Hill Lexington, MA 02421 Company Description Cartera Commerce uses the power of affiliate networks to build shopping portals tailor-made for affinity organizations such as school districts, non-profits, sports teams, and consumer associations. With more than 350 of the most trusted online … Continue reading “Cartera Commerce Garners $16,370,663 New Funding”

TiE Boston Announces Angel Investing Group

There’s a new angel investing group in town, and this one is tied to a global organization supporting entrepreneurship. TiE Boston, the local chapter of The Indus Entrepreneurs, announced today that it has launched TiE Angels to provide funding for early-stage startups in New England. The group says it will put up to $500,000 into … Continue reading “TiE Boston Announces Angel Investing Group”

Clinical Data’s Billionaire Chairman a Major Player in Firm’s Newly FDA-Approved Antidepressant

Randal “RJ” Kirk is building another biotech winner. The billionaire Virginian, who is chairman of Newton, MA-based pharmaceutical company Clinical Data (NASDAQ:[[ticker:CLDA]]), has been a catalyst for the firm’s new FDA approval of an antidepressant. Kirk, a major shareholder in Clinical Data for years and chairman since 2004, has advocated for the 39-year old firm’s … Continue reading “Clinical Data’s Billionaire Chairman a Major Player in Firm’s Newly FDA-Approved Antidepressant”

Celtra Scores $5M from GrandBanks, Fairhaven

Cambridge, MA-based Celtra, a mobile advertising and analytics startup, said today it has raised $5 million in Series A financing from GrandBanks Capital and Fairhaven Capital. Celtra makes a platform for brands, ad agencies, and publishers to be able to create, track, and optimize “rich media” advertising for mobile devices. The company is led by … Continue reading “Celtra Scores $5M from GrandBanks, Fairhaven”

RainDance Raises $37.5M

Lexington, MA-based RainDance Technologies, a maker of genomic research tools, said today it has closed a $37.5 million Series D financing round co-led by new investor Quaker BioVentures and existing investor Mohr Davidow Ventures. Previous investors Alloy Ventures and Acadia Woods also participated in the round. RainDance, founded in 2004, has developed a system that … Continue reading “RainDance Raises $37.5M”

Are Startup-Hungry MIT MBAs Sleepless in Seattle?

One of the most important decisions anyone makes is deciding where to live. Lucky for me, that decision has already been made. Since I’ll be graduating soon with an MBA from the MIT Sloan School of Management, I thought it would be great to head out West to where the software revolution began: the emerald … Continue reading “Are Startup-Hungry MIT MBAs Sleepless in Seattle?”

Bay State Startups Bring in $192M in December, Industrial Companies Squeeze Healthcare Sector Out of the Top Fundraising Spot

[Corrected 1/25/11, 12:40 pm. See below.]Good news and bad news for the state’s startups when it comes to dollars raised last month. Tech and life sciences firms overall collected a bigger chunk of change than the month before, but the healthcare sector, which typically leads the pack, yielded the top spot to the industrial sector. … Continue reading “Bay State Startups Bring in $192M in December, Industrial Companies Squeeze Healthcare Sector Out of the Top Fundraising Spot”

Celtra Lands $5,000,000 Series A Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b3663952-f875-45d0-8403-20d7adce70f3&Preview=1 Date 1/25/2011 Company Name Celtra Mailing Address Cambridge Innovation Center One Broadway 14th Floor Cambridge, MA 02142 Company Description Our mission is to provide a unique Software-as-a-Service platform for online and mobile marketing convergence, which enables brands and marketing agencies to take advantage of social communities’ engagements and extend them into … Continue reading “Celtra Lands $5,000,000 Series A Financing Round”

Raindance Technologies Obtains $37,500,000 Series D Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=fbf15ede-b536-4299-b647-8abb112f426f&Preview=1 Date 1/25/2011 Company Name Raindance Technologies Mailing Address 44 Hartwell Avenue Lexington, MA 02421 Company Description RainDance Technologies, Inc. (RDT) is a nanotechnology company devoted to developing, and commercializing the Personal Laboratory System, a platform for droplet-based microfluidics. Website http://www.raindancetechnologies.com Transaction Type Venture Equity Transaction Amount $37,500,000 Transaction Round Series D … Continue reading “Raindance Technologies Obtains $37,500,000 Series D Round”

StroMedix Receives $2,000,000 New Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=4e76d84f-71f6-470c-b265-b4660043b387&Preview=1 Date 1/25/2011 Company Name StroMedix Mailing Address One Canal Park Cambridge, MA 02141 Company Description Stromedix is a clinical-stage biotechnology company committed to developing novel drugs to treat fibrotic organ failure. Stromedix will focus initially on chronic indications but plans to leverage its expertise and expand its therapeutic pipeline into related … Continue reading “StroMedix Receives $2,000,000 New Financing Round”

Amgen Acquires BioVex for $1,000,000,000

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=5263dbf4-981f-4829-9f03-b5774508aa17&Preview=1 Date 1/25/2011 Company Name BioVex Mailing Address 34 Commerce Way Woburn, MA 01801 Company Description The Company is developing a new class of potent biologics for the treatment of cancer and prevention of infectious disease. Website http://www.biovex.com Transaction Type M&A Transaction Amount $1,000,000,000 Transaction Round Proceeds Purposes M&A Terms Under terms … Continue reading “Amgen Acquires BioVex for $1,000,000,000”

Amgen to Acquire BioVex for Up To $1B, to Obtain Cancer-Killing Virus Therapy

Amgen is sticking its scientific neck out, and potentially $1 billion of its cash, to buy a company in Woburn, MA that hopes to deliver the first FDA-approved virus engineered to specifically kill cancer cells. Thousand Oaks, CA-based Amgen (NASDAQ: [[ticker:AMGN]]) said today it has agreed to pay $425 million upfront, plus another $575 million … Continue reading “Amgen to Acquire BioVex for Up To $1B, to Obtain Cancer-Killing Virus Therapy”

Introducing Tom Lee–He May Need a Nap, But He’s Never Too Tired To Talk About Innovation

Southeast Michigan, please be kind to Tom Lee. Thanks to some lame, opaque rues at an airline which shall remain nameless, the newest addition to the Xconomy team—who starts today as our Detroit editor and national med tech editor—endured a 10 hour drive this weekend instead of the two-hour flight he was expecting. But weary … Continue reading “Introducing Tom Lee–He May Need a Nap, But He’s Never Too Tired To Talk About Innovation”

Xtalic Adds $8M

Xtalic, a Marlborough, MA-based maker of nanostructured alloy coatings for electronics components, has raised $8 million in equity-based funding, according to an SEC filing. The funding comes from eight investors, according to the document. In 2008 Xtalic raised $10 million in Series B funding, with investments from North Bridge Venture Partners and Matrix Partners.

Top 10 List of Boston-Area VC Deals for Q4 2010: NinePoint, 1366, Rive, and More

The venture financing stats from the fourth quarter of 2010 continue to trickle in. Here are the 10 biggest equity financing deals of the quarter in the Boston area, according to the MoneyTree Report by PricewaterhouseCoopers and the National Venture Capital Association based on data from Thomson Reuters. (You can also check out today’s national … Continue reading “Top 10 List of Boston-Area VC Deals for Q4 2010: NinePoint, 1366, Rive, and More”

Clinical Data Stock Surging on FDA Approval of Anti-Depression Drug

Clinical Data’s stock price has been mounting this morning as news spreads that the Newton, MA-based drug developer’s treatment for depression has gained FDA approval. The company’s (NASDAQ:[[ticker:CLDA]]) shares were trading at $24.05 as of 9:42 am Eastern time today, a 60-percent jump from its closing price on Friday. This is a huge win for … Continue reading “Clinical Data Stock Surging on FDA Approval of Anti-Depression Drug”

Coffee, Spam, and What the Web Is Doing to Our Minds, From Mimecast’s Nathaniel Borenstein

I learned at least three things over coffee last week with Nathaniel Borenstein, one of the fathers of modern e-mail systems. Sadly, none of them keep me from wanting to set fire to my inbox, which surpassed 30,000 unread messages this weekend. Borenstein is chief scientist at Mimecast, a U.K.-based e-mail management firm with a … Continue reading “Coffee, Spam, and What the Web Is Doing to Our Minds, From Mimecast’s Nathaniel Borenstein”

Fourth Quarter Venture Results—Shrinkage Comes in All Forms

The Q4 2010 VC funding data were released late last week—and the headline was quite upbeat. VCs invested $5 billion in 765 deals in this past quarter, which while essentially flat quarter-over-quarter, brought the full year totals to $21.8 billion invested in 3,277 companies. In 2009, VCs put $18.3 billion into 2,927 companies. It’s easy … Continue reading “Fourth Quarter Venture Results—Shrinkage Comes in All Forms”

New Dossia CEO Hunts for Cash to Expand Reach of Personal Digital Health Records

[Clarified. 2 pm Eastern time, 1/25/11. See below.] Dossia’s new chief executive, Michael Critelli, has plans to push personal electronic health records closer to mainstream use. He needs money, though. And that might mean tapping the capital markets. Cambridge, MA-based Dossia is best known as a nonprofit consortium—with founding members such as BP America, Intel, … Continue reading “New Dossia CEO Hunts for Cash to Expand Reach of Personal Digital Health Records”

Xtalic Garners $8,000,000 New Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=ebb25930-3051-46dc-b57c-2028bb56b483&Preview=1 Date 1/24/2011 Company Name Xtalic Mailing Address 260 Cedar Hill Street Marlborough, MA 01752 Company Description Xtalic is focused on providing new nanostructured alloys for use in the hard metal coatings industry. Our new technology allows us to precisely tailor the properties of metallic coatings by controlling their structure at the … Continue reading “Xtalic Garners $8,000,000 New Financing”

Between a Rock and a Hard Place—JP Morgan Afterthoughts

Yes, the mood has undoubtedly improved in comparison to last year’s gathering of the healthcare investment community around the “old clock” at Union Square in San Francisco. But given the overall depression of last year this was perhaps not all that difficult to achieve. I have mulled over all the conversations I had during the … Continue reading “Between a Rock and a Hard Place—JP Morgan Afterthoughts”

European Panel Rejects Biogen MS Drug

Weston, MA-based Biogen Idec (NASDAQ:[[ticker:BIIB]]) said today that a European Medicines Agency committee has advised against approval of the company’s drug fampridine (Fampyra) for improving multiple sclerosis patients’ ability to walk. Biogen said it planned to appeal the committee’s opinion. The company, a major provider of MS drugs, in summer 2009 bought rights to fampridine … Continue reading “European Panel Rejects Biogen MS Drug”

The Age of iPad Superbooks? Not Yet

Jadedness: it’s an occupational hazard in tech journalism. Other people look at new software or gadgets and say “Wow.” I look at them and say “Hmm, needs work.” Last weekend’s New York Times Magazine provided a case in point. Writer Virginia Heffernan reviewed 15-Minute Everyday Pilates, a video e-book from Alameda, CA-based Vook, a publishing … Continue reading “The Age of iPad Superbooks? Not Yet”

Dana-Farber Scientists Leave Board of Startup in Legal Battle with Cancer Center

Boston-area researchers have resigned from the board of a West Coast biotech startup, Gatekeeper Pharmaceuticals, which is at odds over technology rights with major players in the biotech community. Gatekeeper, based in Millbrae, CA, is in a legal battle with Dana-Farber Cancer Institute in Boston and Novartis Institutes for BioMedical Research in Cambridge, MA, over … Continue reading “Dana-Farber Scientists Leave Board of Startup in Legal Battle with Cancer Center”

Vertex Drug Gets Speedy FDA Review, BSX Buys Atritech, Ironwood Strikes Another Deal, & More Boston-Area Life Sciences News

We saw some meaty stories on FDA drug approval processes, new collaborations, acquisitions, and hires for Boston’s life sciences firms. —Pfizer’s former chief of licensing Ed Harrigan started a new gig as CEO of stealthy Boston biotech Karuna Pharmaceuticals, a PureTech Ventures-incubated startup that is quietly working on schizophrenia drugs. —Vertex Pharmaceuticals (NASDAQ: [[ticker:VRTX]]) of … Continue reading “Vertex Drug Gets Speedy FDA Review, BSX Buys Atritech, Ironwood Strikes Another Deal, & More Boston-Area Life Sciences News”

A Return to Normalcy: MoneyTree Tracks Venture Funding Gains in 2010

Another report on venture investing is being released today, this time showing a decline in fourth-quarter deal activity compared with the same quarter in 2009—albeit a slight uptick from the previous quarter—and a significant overall gain for the entire year. Venture funding during the fourth quarter of 2010 amounted to $5 billion in 765 deals … Continue reading “A Return to Normalcy: MoneyTree Tracks Venture Funding Gains in 2010”

Say Hello to My Avatar: Bob Metcalfe Gives First UT Innovation Lecture Using Avaya Web Interface

Internet tycoon Bob Metcalfe, who recently moved from Boston, is giving his first lecture as professor of innovation at the University of Texas at Austin this afternoon. I don’t know exactly what he plans to say, but what’s particularly interesting is how he’s delivering the talk—to more than just the people in the room, through … Continue reading “Say Hello to My Avatar: Bob Metcalfe Gives First UT Innovation Lecture Using Avaya Web Interface”

MIT Innovation in Healthcare Symposium

This day-long event will feature healthcare experts from across the globe to discuss ways to drive innovation in the different facets of healthcare. Panels will take a look at the healthcare delivery system, the translation of medical research to the market, and healthcare lessons from other industries. Register here.

Ex-Pfizer Exec Ed Harrigan Takes Top Job at Secretive Karuna Pharmaceuticals

The former chief of licensing for the drug giant Pfizer has stepped in as CEO of Karuna Pharmaceuticals, a stealthy Boston startup focused on new treatments for schizophrenia. Ed Harrigan tells me that he started the job at Karuna this month. Karuna has two novel programs in development for the treatment of schizophrenia, Harrigan says. … Continue reading “Ex-Pfizer Exec Ed Harrigan Takes Top Job at Secretive Karuna Pharmaceuticals”

Vertex Granted Speedy FDA Review

Cambridge, MA-based Vertex Pharmaceuticals (NASDAQ: [[ticker:VRTX]]) said today that the FDA has granted the company’s request for a priority review, meaning that the agency will take six months (instead of the usual 10) to analyze the company’s application to market telaprevir as a new treatment for hepatitis C. The FDA sometimes grants such faster reviews … Continue reading “Vertex Granted Speedy FDA Review”

Is the U.S. Losing its Medical Device Innovation Mojo? PwC Report Says Yes

The United States has been the undisputed leader in medical device innovation for the past 50 years. But there are some out there who insist that title is in jeopardy. It would certainly take a breathtaking free fall, if you look at the standings today. The U.S. is where most of the R&D gets done, … Continue reading “Is the U.S. Losing its Medical Device Innovation Mojo? PwC Report Says Yes”

Isabella Products To Add Wireless USB and Children’s Tablet Device to Better Connect Families

[Corrected 1/20/11, 3:40 pm. See below.] Last spring, Isabella Products unleashed a two-way connected digital photo frame powered by a cellular modem. It was an attempt to modernize a product that’s basically remained the same over the last decade or so, taking the technology into the world of constant wireless connectivity that we’ve come to … Continue reading “Isabella Products To Add Wireless USB and Children’s Tablet Device to Better Connect Families”

Memento Secures $5,000,002 New Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=c65aeeda-5832-4547-ae4a-1c27f7a3eb52&Preview=1 Date 1/20/2011 Company Name Memento Mailing Address 55 Network Dr Burlington, MA 01803 Company Description Memento’s QuickMetrics software can help companies manage risk by preventing internal fraud, monitoring a company’s controls and finding indicators of risk, according to the company. Memento’s software can determine if business applications that are in place … Continue reading “Memento Secures $5,000,002 New Funding Round”