Category: Boston

Terascala Raises $500K, Gears Up for Series B—and Shift to Storage Software Business

Terascala, an Avon, MA-based maker of high-capacity data storage systems, popped up on our radar this week when an SEC filing revealed the company had raised $500,000 in options and warrants-based funding, out of a round that could total $2 million. The company, founded in 2005, has transitioned from a hybrid business selling both computing … Continue reading “Terascala Raises $500K, Gears Up for Series B—and Shift to Storage Software Business”

Interactions Gets $6.3M

Interactions, a Franklin, MA-based provider of software for customer service operations, has raised a $6.3 million Series D funding round, according to a press release. The investors in the round are Cross Atlantic Capital Partners, North Hill Ventures, Sigma Partners, and Updata Partners. Interactions, founded in 2002, makes software that is designed to improve companies’, … Continue reading “Interactions Gets $6.3M”

Seven Years Into Personalized Medicine Foray, Mohr Davidow Stays Patient, Keeps Betting on Big Idea

Personalized medicine is one of those big ideas people have been talking about for a decade, and it still hasn’t made much of an appearance in the doctor’s office. But to Menlo Park, CA-based Mohr Davidow Ventures, after seven years of bets on this big idea, it still has all the promise of a field … Continue reading “Seven Years Into Personalized Medicine Foray, Mohr Davidow Stays Patient, Keeps Betting on Big Idea”

Euthymics, Led by Orexigen Vet, Nabs $24M for Depression Drug With Fewer Side Effects

Boston has a new startup working on what could help people battle depression, even if they didn’t respond to prior treatment, and without the weight gain and sexual dysfunction side effects that have plagued the field for years. Cambridge, MA-based Euthymics Bioscience is off and running toward that goal, having secured the initial installment of … Continue reading “Euthymics, Led by Orexigen Vet, Nabs $24M for Depression Drug With Fewer Side Effects”

Boston’s Autism Mini-Cluster: New Drugs and Diagnostics Target Mysterious Brain Disorders

One day in my high school Spanish class, a kid who I was told had autism started hitting himself on the head repeatedly until our teacher sent him to the nurse. Looking back, I wonder whether he understood how abnormal his behavior was. But 17 years later, I’m encouraged by the growing cluster of outfits … Continue reading “Boston’s Autism Mini-Cluster: New Drugs and Diagnostics Target Mysterious Brain Disorders”

Terascala Garners $500,000 New Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=21eadb65-cc08-4a4a-b261-238b585acaad&Preview=1 Date 7/22/2010 Company Name Terascala Mailing Address 145 Bodwell Street Building 1 Floor 2 Avon, MA 02322 Company Description Terascala is designing new scalable storage appliances that balance the needs of Linux clusters from moderate sizes to the largest clusters being employed. Flexible and scalable configuration options provide the optimal blend … Continue reading “Terascala Garners $500,000 New Funding Round”

Euthymics Bioscience Receives $24,000,000 Series A Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=81f1b07e-bf5a-441d-880b-e461bb098f5f&Preview=1 Date 7/22/2010 Company Name Euthymics Bioscience Mailing Address 35 Braintree Hill Office Park Braintree, MA 02184 Company Description Euthymics Bioscience, Inc. is a neuroscience-focused clinical-stage company developing next-generation treatments for depression. Euthymics’ initial focus is on patients who do not respond adequately to SSRIs. EB-1010 for depression is expected to improve … Continue reading “Euthymics Bioscience Receives $24,000,000 Series A Funding”

Oclaro Buys Mintera for $12M Plus Bonuses

San Jose, CA-based Oclaro (NASDAQ: [[ticker:OCLR]]), an optical communications and laser technology firm, announced today it has acquired Mintera, based in Acton, MA, for $12 million in cash upfront. The deal could be worth as much as $32 million in total, if Mintera reaches cumulative revenues of $70M over the next 18 months. Mintera’s annual … Continue reading “Oclaro Buys Mintera for $12M Plus Bonuses”

Electronics Trade-In Service Gazelle Grabs $12M Series C to Meet Customer Growth

Boston-based Gazelle, which dubs itself as a “reCommerce service,” announced it has raised $12 million in Series C funding, led by Physic Ventures. Existing Gazelle investors Venrock Associates and RockPort Capital Partners are also participating in the third round financing. Gazelle, which is powered by the company Second Rotation, helps consumers sell used electronics in … Continue reading “Electronics Trade-In Service Gazelle Grabs $12M Series C to Meet Customer Growth”

Cara Therapeutics Captures $15M

Cara Therapeutics, a Shelton, CT-based developer of treatments for pain and inflammation, has raised $15 million in a Series D funding round, according to a press release posted online today. Rho Ventures led the round, which included previous backers Alta Biopharma, Ascent Biomedical Ventures, CT Innovations, Devon Park BioVentures, Healthcare Private Equity, Mitsubishi International, and … Continue reading “Cara Therapeutics Captures $15M”

$250K for Alektrona

Alektrona, a Providence, RI-based startup focused on smart grid software and hardware, has received a $250,000 funding commitment from the Slater Technology Fund, according to Providence-based Slater. The funding is part of a $510,000 seed funding round. Thorne Sparkman, a manager director at Slater, led the firm’s investment in Alektrona. Gene Zimon, a former chief … Continue reading “$250K for Alektrona”

Actifio, With New VC Bucks, Wants to “Virtualize” Data Management, Become the Next Data Domain

Take two of the more impenetrable terms in the IT industry, “data management” and “virtualization,” and put them together. What do you get? The doubly difficult moniker of “data management virtualization.” To an outsider, this might sound like enough jargon to kill a small child. But it’s actually pretty straightforward. What’s more, the sector could … Continue reading “Actifio, With New VC Bucks, Wants to “Virtualize” Data Management, Become the Next Data Domain”

Help Increase Transparency in Private Company Executive Compensation

A decade ago, investors and chief executive officers were largely flying blind when it came to compensation in early-stage, privately held companies. They had little more than anecdotal information and their gut to judge how much it would take to land a new head of sales or whether it was worthwhile to retain a chief … Continue reading “Help Increase Transparency in Private Company Executive Compensation”

XL Hybrids Gets $300K, BP Acquires Verenium’s Cellulosic Biofuels Business, NE Q2 Venture Investing Slims Down, & More Boston-Area Deals News

We saw news of both acquisitions and fundraising rounds for New England companies in the clean tech, IT, and biotech sectors. —XL Hybrids, a Somerville, MA-based startup developing technology for retrofitting vehicles with hybrid elements, raised $300,000 from an undisclosed fund. The newest cash puts the cleantech company’s seed funding total at $1.8 million. —Westford, … Continue reading “XL Hybrids Gets $300K, BP Acquires Verenium’s Cellulosic Biofuels Business, NE Q2 Venture Investing Slims Down, & More Boston-Area Deals News”

Cara Therapeutics Obtains $15,000,000 Series D Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=9ef83f70-8d4a-4cda-bc42-5120615911cd&Preview=1 Date 7/21/2010 Company Name Cara Therapeutics Mailing Address One Parrott Drive Shelton, CT 06484 Company Description Cara Therapeutics is an emerging biotechnology company focused on developing novel therapeutics to treat human diseases associated with pain and inflammation. Cara possesses both near-term clinical development opportunities combined with proprietary approaches to developing first-in-class … Continue reading “Cara Therapeutics Obtains $15,000,000 Series D Round”

Gazelle Secures $12,000,000 Series C Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=fc48f747-a3ab-49e1-bbb1-91574131094e&Preview=1 Date 7/21/2010 Company Name Gazelle Mailing Address 61 North Beacon ST Boston, MA 02134 Company Description Second Rotation is the destination for simplified selling of consumer electronics and gadgets online. The process is easy: Second Rotation determines the value of the item online, arranges pickup and shipping, and pays the seller … Continue reading “Gazelle Secures $12,000,000 Series C Funding Round”

Alektrona Secures $510,000 New Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=ae78a2b8-3530-4b9b-a291-bd85ae01ecc7&Preview=1 Date 7/21/2010 Company Name Alektrona Mailing Address 95 Hathaway St. Providence, RI 02907 Company Description An Energy Network Appliance uniting open standards and enterprise-class management that simplifies the device communication complexity inherent in heterogeneous demand response, energy efficiency, and advanced metering systems. Website http://www.alektrona.com Transaction Type Venture Equity Transaction Amount $510,000 … Continue reading “Alektrona Secures $510,000 New Round”

Olympus Medical Acquires Innov-X Systems for Undisclosed Sum

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=eba06dc1-d237-49d2-aa0d-7f5a6643efa8&Preview=1 Date 7/21/2010 Company Name Innov-X Systems Mailing Address 100 Sylvan Road Woburn, MA 01801 Company Description Innov-X Systems was founded in early 2001 to revitalize the XRF industry with a pioneering approach to portable analyzers. When Innov-X delivered the world’s first x-ray tube-based portable XRF, a new era in portable XRF … Continue reading “Olympus Medical Acquires Innov-X Systems for Undisclosed Sum”

Oclaro Acquires Mintera Corporation for $32,000,000

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=8183528e-24ca-41e5-8be0-9cba54f8e7fa&Preview=1 Date 7/21/2010 Company Name Mintera Corporation Mailing Address 35 Nagog Park Acton, MA 01720 Company Description Mintera was founded in 2000 to be the technology leader enabling next generation 40 Gbps optical transport in metro-core, regional, long- haul and ultra long-haul optical networks. Website http://www.mintera.com Transaction Type M&A Transaction Amount $32,000,000 … Continue reading “Oclaro Acquires Mintera Corporation for $32,000,000”

Eli Lilly Pays up to $380M for Alnara Pharma

We finally know how much drug giant Eli Lilly paid to acquire Cambridge, MA-based Alnara Pharmaceuticals. Lilly, which first announced its takeover of Alnara on July 2, disclosed today that the deal is worth as much as $380 million to venture-backed Alnara’s shareholders. Indianapolis-based Lilly (NYSE:[[ticker:LLY]]) is paying $180 million upfront for all of Alnara’s … Continue reading “Eli Lilly Pays up to $380M for Alnara Pharma”

Lean Startup Circle Boston Monthly Meetup

Get perspective from area entrepreneurs at this startup networking event. Blueleaf.com CEO John Prendergast will talk about customer development and Performable founder David Cancel will dish some advice on analytics. RSVP here.

Jeff Glass on Bain Capital Ventures’ New Innovation Center, the Startup Ecosystem, and the Future of Group Buying

Venture capitalists are getting back to their roots. Amid the smaller exit markets, some contraction in the VC industry, and a general reset of investments to a lower level than two or three years ago, venture firms are making some key changes. Some are moving toward earlier-stage investments, while others are making more later-stage deals—and … Continue reading “Jeff Glass on Bain Capital Ventures’ New Innovation Center, the Startup Ecosystem, and the Future of Group Buying”

Mitralign Secures $5M Credit Facility

Mitralign, a Tewksbury, MA, startup developing a catheter-based system for mitral valve repair, has secured a $5 million credit facility from GE Capital, according to a press release. The startup plans to use the credit facility to provide working capital for advancing the development of its technology.

Actifio Finishes $8M Round

Actifio, a stealthy Waltham, MA, startup developing data management virtualization technology, told VentureWire that it completed its $8 million Series A round about six months ago. Xconomy reported last July that Actifio had secured the first $4 million of the first-round financing. The startup’s founder and CEO is storage veteran Ash Ashutosh, a former chief … Continue reading “Actifio Finishes $8M Round”

DirectoryM Changes Name to nSphere, Highlights Data-Aggregating Focus

Boston-based DirectoryM hasn’t been living up to its name for a few years now, and the company is re-branding itself today with the name nSphere. Its aim is “connecting databases and making them available to users searching for information online,” says chief operating officer Jean-Eric Penicaud. The company’s technology pulls information from about 10,000 databases … Continue reading “DirectoryM Changes Name to nSphere, Highlights Data-Aggregating Focus”

Stromedix, with Biogen Idec Roots, Seeks Exit from Regulatory Limbo

Cambridge, MA-based Stromedix is behind schedule on developing drugs that could stymie a cellular process that causes peoples’ bodies to transplanted kidneys to fail. Yet schedule delays are common in the unpredictable biotech business, and we’re only hearing about this one because of the candid nature of its co-founder and CEO, Michael Gilman. When Stromedix … Continue reading “Stromedix, with Biogen Idec Roots, Seeks Exit from Regulatory Limbo”

Anaptyx Installs Free Wi-Fi in Greenway Parks—Rest of Boston to Follow?

When last we checked in with Ken Carnesi, the co-founder and CEO of Anaptyx, he was busy setting up a free Wi-Fi network in Harvard Square. He was also starting to bring his Boston-area company’s wireless Internet service, meant primarily for apartments and condo buildings, to new cities around the country. Today he’s helping to … Continue reading “Anaptyx Installs Free Wi-Fi in Greenway Parks—Rest of Boston to Follow?”

DiagnosisONE Lands $5,000,000 New Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=69bb04af-36dc-4a1b-8268-5f04a58c9131&Preview=1 Date 7/20/2010 Company Name DiagnosisONE Mailing Address 61 Spit Brook Rd. Nashua, NH 03060 Company Description DiagnosisONE, an innovative leader in the healthcare IT industry, develops and markets next–generation Clinical Decision Support Solutions designed to improve quality, safety and efficiency of patient care while reducing costs of healthcare delivery. D1’s applications … Continue reading “DiagnosisONE Lands $5,000,000 New Financing”

Tarpon Biosystems Obtains $1,431,281 New Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=8fa64c0b-7cfa-4370-88ff-85973e7ce9b0&Preview=1 Date 7/20/2010 Company Name Tarpon Biosystems Mailing Address 197 M Boston Post Rd. West Marlborough, MA 01752 Company Description The efficiencies of upstream processes have increased dramatically over the past decade. Downstream processing or purification has not kept pace with these innovations. Tarpon Biosystems has developed the first ever BioSMB systems … Continue reading “Tarpon Biosystems Obtains $1,431,281 New Round”

SmartBear Adds to Growing Software Cluster in Beverly

There’s a prominent new software company headquartered in Beverly, MA. Until now, I had always associated the seaside town with its great old theaters, museums, and having a great white shark brought into the harbor in the mid-1990s (random, I know). From now on, I’ll think of software. There are already quite a few tech … Continue reading “SmartBear Adds to Growing Software Cluster in Beverly”

Taris Bio Names New CEO

Taris Biomedical, a Lexington, MA-based developer of drug-device combo products for bladder conditions, reported this morning that it has hired Sarma Duddu to be its president and chief executive. Duddu was most recently a general manager and vice president of drug delivery at Cima Labs, a subsidiary of the Frazer, PA-based drugmaker Cephalon (NASDAQ:[[ticker:CEPH]]). In … Continue reading “Taris Bio Names New CEO”

Myriant Technologies Looks Beyond Biofuels at Growing Chemicals Business

Stephen Gatto focused much his career during the previous decade on the biofuels industry. But today, he’s betting on specialty chemicals as the highest-growth market for his Quincy, MA-based company’s fermentation technology. Myriant Technologies is aiming to raise $60 million in a round of equity financing in the coming months, Gatto told Xconomy. The funding … Continue reading “Myriant Technologies Looks Beyond Biofuels at Growing Chemicals Business”

VC Investment in New England Declines in Second Quarter (Two Out of Three Surveys Say); Top 10 Deals Dominated by Biotech

It’s always dangerous to read too much into one quarter’s venture capital stats. But the national and regional VC numbers released over the weekend suggest that venture investment in New England is leveling off to a new set point—significantly higher than a year ago, but down compared to its recent quarter-to-quarter growth. That’s according to … Continue reading “VC Investment in New England Declines in Second Quarter (Two Out of Three Surveys Say); Top 10 Deals Dominated by Biotech”

Venture Surveys Show Nationwide Increase, More or Less, in Second-Quarter Investments

How would you prefer your venture capital survey data this morning? Depending on the source, we can serve it up lukewarm, hot, or scalding. All three measures show that venture funding rose during the second quarter; it’s just a matter of degree: —CB Insights, a startup financial services firm based in New York, reports that … Continue reading “Venture Surveys Show Nationwide Increase, More or Less, in Second-Quarter Investments”

Mitralign Garners $5,000,000 New Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=6478b3a4-5c89-46ad-99d8-5eb5c47cb3af&Preview=1 Date 7/19/2010 Company Name Mitralign Mailing Address 3 Highwood Drive Tewksbury, MA 01876 Company Description We are currently developing an innovative, catheter-based mitral valve repair system that not only provides an alternative to open heart surgery but emulates the traditional surgical repair technique. The condition treated, mitral valve regurgitation (MR), is … Continue reading “Mitralign Garners $5,000,000 New Financing Round”

Eleme Medical Receives $6,500,000 New Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b71bdddc-dfcb-42d5-b73e-7ab24594f5e6&Preview=1 Date 7/19/2010 Company Name Eleme Medical Mailing Address 10 Al Paul Lane Merrimack, NH 03054 Company Description Elemé Medical™ is an emerging, privately funded aesthetics company. The Company’s SmoothShapes™ System is a painless, non-invasive laser-based system indicated for the temporary improvement in the appearance of cellulite. Website http://www.elememedical.com Transaction Type Debt … Continue reading “Eleme Medical Receives $6,500,000 New Financing”

Mobile Monday & BostInnovation – Summer Block Party

Information and registration here. Join us for a Block Party hosted by Mobile Monday & BostInnovation. Starting at 5pm, we’ll be on the pedestrian Summer Street beside Macy’s for an evening of open networking. This one’s a real party, not just another tech event. Featuring live music from In Like Lions and the Cirque de … Continue reading “Mobile Monday & BostInnovation – Summer Block Party”

Lessons Learned About the Outlook for New Obesity Drug Approval

Yesterday’s FDA advisory committee meeting on Vivus’ weight loss pill proved to us, once again, how incredibly difficult it is to successfully develop and register new drugs for obesity. Mountain View, CA-based Vivus had a solid program supporting their drug—demonstrating that their combination product of phentermine and topirimate (Qnexa) is very effective and has a … Continue reading “Lessons Learned About the Outlook for New Obesity Drug Approval”

Surface Logix Grabs $4M

Surface Logix, a Brighton, MA-based developer of drugs for obesity and diabetes, pulled in $4 million in an offering of equity, options, and warrants that could total $4.6 million, according to an SEC filing. The startup, which launched in 2001 with technology from Harvard chemist George Whitesides, raised $20 million in Series E funding last … Continue reading “Surface Logix Grabs $4M”

TEDxBoston 2010

This independently organized TED event will honor Boston-area personalities—from designers to social entrepreneurs—for their innovation. You’ll hear about how they’re aiming to revolutionize in spaces such as democracy and globalization, home design, and spinal cord injury treatment. Register here.

Inverness Name Change to Alere

Waltham, MA-based Inverness Medical Innovations (NYSE: [[ticker:IMA]]), a maker of consumer diagnostic tests and a provider of disease management services, announced it has changed its name to Alere. Shareholders approved the name change at the company’s annual stockholder meeting on Wednesday. The life sciences company also said it expects to change its stock symbol on … Continue reading “Inverness Name Change to Alere”

Name Game: We Review Our Readers’ Choices for Boston’s Most (and Least) Successful Rebrandings

Call it market research, Xconomy style. On Wednesday, we initiated a poll asking our readers to weigh in on whether the rebranding efforts of eight New England startups that had changed their names in the past year worked for them. Readers were asked to pick whether the new name was better, worse, or the same … Continue reading “Name Game: We Review Our Readers’ Choices for Boston’s Most (and Least) Successful Rebrandings”

Evernote Opens a Trunk of Goodies for Online-Notes Fans

If I only had a second brain—one that could hold my Web clips, store my business cards, transcribe my voice memos, keep my to-do lists, preserve my receipts and recipes and passwords, and archive items from my Twitter, Facebook, and RSS feeds, just to list a few of the myriad types of information I attempt … Continue reading “Evernote Opens a Trunk of Goodies for Online-Notes Fans”

Adimab Inks Novartis Deal, GSK-Founded Tempero Pursues Hot Immunology Field, Metamark Gets $22M, & More Boston-Area Life Sciences News

This week we ran several meaty profiles spotlighting strategies of New England biotech companies powered by some big life sciences players. —Lebanon, NH-based Adimab struck a research deal with Novartis, in which the startup will use its technology to discover antibodies that could potentially be used in drugs against two undisclosed diseases that Novartis chooses … Continue reading “Adimab Inks Novartis Deal, GSK-Founded Tempero Pursues Hot Immunology Field, Metamark Gets $22M, & More Boston-Area Life Sciences News”

Surface Logix Garners $4,000,000 New Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=15169ce0-dc56-4cfc-9535-9a0d5d2a093c&Preview=1 Date 7/16/2010 Company Name Surface Logix Mailing Address 50 Soldiers Field Place Brighton, MA 02135 Company Description Surface Logix is a drug development company which uses its expertise in biophysical chemistry to create new small molecule drugs with significantly improved pharmacokinetic (PK) and pharmacodynamic (PD) properties compared with class leaders. Website … Continue reading “Surface Logix Garners $4,000,000 New Funding Round”

ZanAqua Technologies Obtains $400,000 New Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=fc047022-ecaf-478f-847d-fdeb06fb6354&Preview=1 Date 7/16/2010 Company Name ZanAqua Technologies Mailing Address 62 Hart Street Beverly Farms, MA 01915 Company Description Ovation Products is a development stage company focused on creating small scale water treatment solutions. Our core technology is proprietary and based on highly efficient vapor compression distillation that has broad application across the … Continue reading “ZanAqua Technologies Obtains $400,000 New Round”