CombinatoRx has garnered its first drug approval. It’s a milestone for the Cambridge, MA-based drug developer, even if the path the company took to reach this point isn’t the one its founders had mapped out when they launched the company in 2000. The FDA has approved the pain drug hydromorphone HCL (Exalgo), which is an … Continue reading “CombinatoRx Grabs $40M with FDA Approval”
Category: Boston
Monster and Eons Founder Jeff Taylor Starts Incubator as Protest to Startups Fleeing Boston
Monster.com and Eons.com founder Jeff Taylor thinks entrepreneurs are bluffing when they cite Boston’s harsh winter weather as the reason for fleeing the city for operations elsewhere, such as California’s Silicon Valley. “The real objection is that it’s hard to get discovered in Boston, and that our resource-rich community feels like it’s locked behind closed … Continue reading “Monster and Eons Founder Jeff Taylor Starts Incubator as Protest to Startups Fleeing Boston”
Ion Torrent Systems Unveils New Gene Machine, Introducing Watson to Moore’s Law
The world of DNA sequencing is buzzing about a startup based in Guilford, CT, and San Francisco called Ion Torrent Systems. This stealthy operation, which is advised by Harvard genomics pioneer George Church and supported by a partner in Seattle, finally pulled off the veil last weekend on a tool that uses semiconductors to generate … Continue reading “Ion Torrent Systems Unveils New Gene Machine, Introducing Watson to Moore’s Law”
TransMedics Obtains $35,400,000 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d555f0ad-dca3-4fdf-9175-7decc080fd30&Preview=1 Date 3/2/2010 Company Name TransMedics Mailing Address 200 Minuteman Road Andover, MA 01810 Company Description TransMedics has developed a revolutionary new system that enables living organ transplants. Website http://www.TransMedics.com Transaction Type Venture Equity Transaction Amount $35,400,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor Flagship … Continue reading “TransMedics Obtains $35,400,000 New Funding”
Desktone Receives $5,400,000 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=6eb6c864-35b8-4dec-bea2-b6819a50ea98&Preview=1 Date 3/2/2010 Company Name Desktone Mailing Address 100 Apollo Drive Chelmsford, MA 01824 Company Description The company was founded in 2006 to address market demands for easy-to-implement, low-maintenance enterprise desktops. As essential as PCs are for business, they have become too complicated and expensive to manage and use. We believe that … Continue reading “Desktone Receives $5,400,000 New Funding Round”
Hyland Software Acquires eWebHealth for Undisclosed Sum
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=916dc7f8-b3f9-4daa-a0e1-f75a1116d10a&Preview=1 Date 3/2/2010 Company Name eWebHealth Mailing Address 55 Walkers Brook Drive Reading, MA 01867 Company Description eWebHealth is a leading provider of medical record workflow solutions. We help hospitals and health facilities overcome the inefficiencies of managing paper-based medical records to improve productivity, profitability and patient care. Website http://www.ewebhealth.com Transaction Type … Continue reading “Hyland Software Acquires eWebHealth for Undisclosed Sum”
Konarka Technologies Receives $20,000,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f4358286-e8de-458d-88f0-4e18e445d686&Preview=1 Date 3/2/2010 Company Name Konarka Technologies Mailing Address 116 John Street Lowell, MA 01852 Company Description Konarka builds power plastic that converts light to energy anywhere. The company develops and manufactures light-activated power plastic that is inexpensive, lightweight, flexible and versatile. Website http://www.konarka.com Transaction Type Venture Equity Transaction Amount $20,000,000 Transaction … Continue reading “Konarka Technologies Receives $20,000,000 New Financing”
Zafgen Grabs $8.1M More in B Round
Zafgen, a Cambridge, MA-based startup focused on new obesity treatments, has raised $8.1 million in a third closing of its $28 million Series B round, a company spokeswoman confirmed this afternoon. The funding was revealed today in this SEC filing. The company, which has now raised $30 million, received the fresh capital from previous backers … Continue reading “Zafgen Grabs $8.1M More in B Round”
MIT Enterprise Forum Start-up Clinic
Here’s another installment of the MIT Enterprise Forum of Cambridge’s start-up clinics, where startup CEOs dish on their businesses and get audience feedback. This one will highlight Neotron, developers of neutron detectors, and Teravio, a company developing THz sensor technology. Register online.
MIT Sloan BioInnovations 2010 Conference
This year’s BioInnovations conference, sponsored by the MIT Sloan BioMedical Business Club, brings together more than 300 healthcare pioneers to discuss life sciences technology, policy, and commercialization. Xconomy is partnering on this event, which will feature CEOs, academics, consultants, and investors from names such as Microsoft, Partners HealthCare System, Genzyme, and Vertex Pharmaceuticals. Register here.
Millipore To March Down the Aisle with Merck KGaA, Not Thermo Fisher
Reports last week that Billerica, MA-based life sciences equipment supplier Millipore was in merger talks with Waltham, MA-based Thermo Fisher Scientific were half right. Millipore was in merger talks—but it has settled on suitor Merck KGaA, the German pharmaceutical and chemicals giant. And Millipore is fetching a higher price than the earlier reports suggested, too. … Continue reading “Millipore To March Down the Aisle with Merck KGaA, Not Thermo Fisher”
Sensata Sets IPO Terms
Sensata Technologies, a maker of sensors and switches headquartered in Attleboro, MA, has set its initial public offering of 31.6 million shares at $18 to $20 a share, according to a filing with the SEC. Sensata Technologies Holding, a public limited liability company incorporated in the Netherlands, is offering 26.3 million shares, and selling shareholders … Continue reading “Sensata Sets IPO Terms”
Athenahealth Taps Sermo Docs for Opinions on Electronic Health Records
What do doctors think about electronic health records? That’s a question at the heart of a newly announced partnership between Athenahealth and Sermo, according to the companies’ press release this morning. Athenahealth (NASDAQ:[[ticker:ATHN]]), the Watertown, MA-based provider of Internet software and services for medical practices, is tapping Cambridge, MA-based Sermo’s online community of physicians to … Continue reading “Athenahealth Taps Sermo Docs for Opinions on Electronic Health Records”
Russ Wilcox Steps Down at E Ink—Smart Energy Venture Next?
[Updated 9:55 a.m. and 1:35 p.m., see below] Russell Wilcox, until recently the president and CEO at Cambridge, MA-based display technology pioneer E Ink, has left the company, Xconomy has learned. In his 13 years with E Ink, Wilcox rose from the level of vice president of business development to the leadership helm, and engineered … Continue reading “Russ Wilcox Steps Down at E Ink—Smart Energy Venture Next?”
Mass Mobile Month Is Here!
March 2010 is Mass Mobile Month, a celebration of mobile technology innovation in New England. Who says so? Xconomy and the 22 other local organizations that have banded together to highlight the remarkable string of mobile-related events happening around town in March. Actually, the fun started in mid-February and will continue into early April—but today, … Continue reading “Mass Mobile Month Is Here!”
With VCs Ready to Hold Office Hours For Entrepreneurs, Venture Café Gets a Test Drive
For most entrepreneurs, a beta stage or beta product is a crucial way to flesh out new ideas, and find out what works and what doesn’t for their business. And it’s no different for a new endeavor meant to create community and dialog between entrepreneurs and investors in the Boston area. That endeavor would be … Continue reading “With VCs Ready to Hold Office Hours For Entrepreneurs, Venture Café Gets a Test Drive”
Dossia Doubles List of Key Health Record Adopters with Intel and Pitney Bowes
More big companies are giving electronic health records a go. The Cambridge, MA-based nonprofit Dossia says that two of its founding members, computer chip giant Intel and mail system provider Pitney Bowes, are offering its electronic health records system to at least some of their workers. The next big test will be how many Intel … Continue reading “Dossia Doubles List of Key Health Record Adopters with Intel and Pitney Bowes”
Why BlackBerry Needs Real Innovation, and How Boston Can Help
Heads up, stodgy bankers and business road warriors: in case you haven’t noticed the blatant signs over the past 12 months or so, your trusty BlackBerry is no longer cool. Yeah, I know you think that because you recently traded in your old-school model with scroll wheel for the sleek black Tour or Bold 2, … Continue reading “Why BlackBerry Needs Real Innovation, and How Boston Can Help”
Zafgen Lands $8,100,000 Series B Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=19162828-8ae5-4f6f-ab74-718c0cc59378&Preview=1 Date 3/1/2010 Company Name Zafgen Mailing Address 5 Cambridge Center Floor 2 Cambridge, MA 02142 Company Description The company is developing novel therapeutics for the treatment of obesity. Website http://www.zafgen.com Transaction Type Venture Equity Transaction Amount $8,100,000 Transaction Round Series B Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture … Continue reading “Zafgen Lands $8,100,000 Series B Financing”
Artisan Pharma Lands $22,000,000 Series B Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=1d5d75c6-2e2f-4a6f-8d65-de3b5c11a532&Preview=1 Date 3/1/2010 Company Name Artisan Pharma Mailing Address 230 Third Avenue Waltham, MA 02451 Company Description Artisan Pharma is a biopharmaceutical company dedicated to bringing best-in-class critical care and hospital-based therapeutics to patients. Website http://www.artisanpharma.net Transaction Type Venture Equity Transaction Amount $22,000,000 Transaction Round Series B Proceeds Purposes The proceeds from … Continue reading “Artisan Pharma Lands $22,000,000 Series B Funding Round”
Intrinsic Therapeutics Grabs $18M
Spinal implant developer Intrinsic Therapeutics has pulled in $18 million of a $20 million mixed offering of equity, options, and warrants, according to a filing with the SEC. Existing Intrinsic investors New Enterprise Associates, Spray Venture Partners, and New Leaf Venture Partners are listed as directors on the filing. The Woburn, MA-based company, which produces … Continue reading “Intrinsic Therapeutics Grabs $18M”
Video and Books: Two Great Tastes That Taste Great Together?
If a book can be made from something other than paper—say, pixels on a screen—then why can’t it consist of something other than plain old words and pictures? It can. Companies like Eastgate Systems in Watertown, MA, have been publishing PC-based interactive “hypertexts” for almost 30 years. Thanks to the built-in speech synthesis software on … Continue reading “Video and Books: Two Great Tastes That Taste Great Together?”
Avila Aims to Trump Vertex With Drug that Hits Hepatitis C Virus and Won’t Let Go
Avila Therapeutics can’t be accused of thinking too small. This Waltham, MA-based startup is on a quest to show it has the scientific chops to build a better drug than one of Boston’s anchor biotech companies—Vertex Pharmaceuticals. So this is shaping up to be a big year for Avila (AH-vill-uh), as it plans to start … Continue reading “Avila Aims to Trump Vertex With Drug that Hits Hepatitis C Virus and Won’t Let Go”
Under the Radar in January: A Baker’s Dozen of New England Startup Financings Worth $1M or Less
Earlier this month, we wrote about some of the mammoth venture deals that helped add up to $355 million worth of investments in Massachusetts startups in January. But don’t think we’ve forgotten about the little guys. These are what we call our under-the-radar deals, typically worth between $100,000 and $1 million (though the January list … Continue reading “Under the Radar in January: A Baker’s Dozen of New England Startup Financings Worth $1M or Less”
Biogen Idec Seeks Science-Savvy CEO, LifeImage Partners With EMC, GenomeQuest Aims to be Genetic Google, & More Boston-Area Life Sciences News
Another eventful week for New England’s life sciences companies, with big changes potentially in store for two of the biggest firms. —Biogen Idec’s new board chairman, Bill Young, told Luke that the committee tasked with finding a replacement for outgoing CEO Jim Mullen is first and foremost looking for somebody “who has managed and understands … Continue reading “Biogen Idec Seeks Science-Savvy CEO, LifeImage Partners With EMC, GenomeQuest Aims to be Genetic Google, & More Boston-Area Life Sciences News”
Intrinsic Therapeutics Obtains $18,000,000 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=4a7ceded-2a16-4469-bcf8-26020a7de93f&Preview=1 Date 2/26/2010 Company Name Intrinsic Therapeutics Mailing Address 30 Commerce Way Woburn, MA 01801 Company Description The company is developing surgical equipment for use in spinal tissue repair. Website http://www.in-or.com Transaction Type Venture Equity Transaction Amount $18,000,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor … Continue reading “Intrinsic Therapeutics Obtains $18,000,000 New Funding Round”
What Makes a City Entrepreneurial?
Why are some metropolitan areas so much more entrepreneurial than others? Silicon Valley seems almost magically entrepreneurial, with a new startup on every street corner, but in declining Rust Belt cities such startups are far and few between. In a new Policy Brief published by Harvard’s Rappaport Institute for Greater Boston, which is sponsoring a … Continue reading “What Makes a City Entrepreneurial?”
Mobile Madness Mega-Post: The Full Details on Xconomy’s Can’t-Miss March 9 Mobile Technology Forum
Xconomy’s next big event, Mobile Madness: The New Future of Computing, is coming up fast—it’s on March 9 at Microsoft’s New England R&D Center in Cambridge. Once again, the tech community has come out in force to support our event, and I have an amazing lineup of speakers to tell you about, as well as … Continue reading “Mobile Madness Mega-Post: The Full Details on Xconomy’s Can’t-Miss March 9 Mobile Technology Forum”
Startup Ra Pharmaceuticals Bags $10.3M Funding
Ra Pharmaceuticals has big-named backers and a co-founder of Transkaryotic Therapies (now part of Shire) serving as CEO, but not much else is known about the secretive startup. Yesterday the Boston-based firm reported in an SEC filing that it had raised $10.3 million of a planned $27.6 million round of equity financing. The company is … Continue reading “Startup Ra Pharmaceuticals Bags $10.3M Funding”
Regulus, the MicroRNA Child of Isis and Alnylam, Strikes Potential $150M Deal with Glaxo
Two years have passed since GlaxoSmithKline anointed a startup called Regulus Therapeutics as a leader in the bleeding-edge world of microRNA drugs, and now the pharma giant has made clear it likes what it sees so far. Regulus, a Carlsbad, CA-based spinoff from neighboring Isis Pharmaceuticals and Cambridge, MA-based Alnylam Pharmaceuticals, is announcing today it … Continue reading “Regulus, the MicroRNA Child of Isis and Alnylam, Strikes Potential $150M Deal with Glaxo”
GenomeQuest Wants to Be the Google of DNA Data Searches
A flood of new genetic data generated by advanced DNA sequencing systems has landed some life sciences researchers in a bit of information-management pickle. But this problem is a major opportunity for GenomeQuest and its competitors in the business of proving DNA analysis software. GenomeQuest aspires to do for biologists what Google did for people … Continue reading “GenomeQuest Wants to Be the Google of DNA Data Searches”
Ra Pharmaceuticals Receives $10,300,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=27cddea0-7b8f-4303-98c5-d0e096aacb6a&Preview=1 Date 2/25/2010 Company Name Ra Pharmaceuticals Mailing Address 222 Berkeley Street 20th Floor Boston, MA 02116 Company Description Ra Pharmaceuticals has big-named backers and a co-founder of Transkaryotic Therapies (now part of Shire) serving as CEO, but not much else is known about the secretive startup. Website Undisclosed Transaction Type Venture … Continue reading “Ra Pharmaceuticals Receives $10,300,000 New Financing”
New CEO for Magellan Biosciences
Diagnostics company Magellan Biosciences announced today it has appointed a new president and CEO, Hiroshi Uchida. Most recently serving as executive VP, CTO, and a member of the board of directors of blood transfusion technology company Fenwal, Uchida said he plans to improve partnerships and accelerate investments in development projects for Chelmsford, MA-based Magellan, which … Continue reading “New CEO for Magellan Biosciences”
Luminus Devices Nabs $19M, Aveo Sets IPO Range, Thermo Fisher Scientific Reportedly Makes $6 B Move on Millipore, & More Boston-Area Deals News
It was a good week for venture dealmaking among New England’s tech and life sciences firms. —Needham, MA-based Stata Venture Partners led a $7 million Series B financing round for NABsys, a Providence, RI-based firm developing a DNA sequencing technology that employs silicon chips for rapid electronic detection of DNA sequences. —Boston-based Battery Ventures sold … Continue reading “Luminus Devices Nabs $19M, Aveo Sets IPO Range, Thermo Fisher Scientific Reportedly Makes $6 B Move on Millipore, & More Boston-Area Deals News”
World Energy Unveils “Demand Response” Auctions, Disrupting a Market Dominated by Boston’s EnerNOC
It’s so costly and complicated to build new generating plants these days that utilities would rather prepare for periods of peak demand, such as hot summer days, by buying “negawatts”—that is, by agreeing to pay big customers like factories, stores, and municipalities to dial back their electricity use when called upon. EnerNOC (NASDAQ: [[ticker:ENOC]]), a … Continue reading “World Energy Unveils “Demand Response” Auctions, Disrupting a Market Dominated by Boston’s EnerNOC”
Sermo Aims to Launch New Version of Doctors-Only Social Networking Site
Sermo is getting a technology makeover. The Cambridge, MA-based provider of the country’s largest social networking website exclusively for physicians is planning to launch a revamped version of its site called Sermo X, intending to improve the online experience of its users and customers, company founder and CEO Daniel Palestrant tells Xconomy. When CEOs tell … Continue reading “Sermo Aims to Launch New Version of Doctors-Only Social Networking Site”
Marathon Technologies Stretches B Round to $13.5M
Marathon Technologies has socked away more cash, about five months after announcing the arrival of new CEO Jim Welch. The Littleton, MA-based maker of fault tolerance software has wrapped up a third closing of its Series B round of venture capital, bringing the total funding in the round to $13.5 million, according to a regulatory … Continue reading “Marathon Technologies Stretches B Round to $13.5M”
Dexrex Gear Receives $1,000,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=7f422aa8-9eb3-47eb-b9d1-48dbe2a0ff20&Preview=1 Date 2/24/2010 Company Name Dexrex Gear Mailing Address 132 Adams Street Newton, MA 02458 Company Description Derek Lyman and Richard Tortora began Dexrex in 2005 while students at the University of Massachusetts Amherst. As avid users of IM and text messaging, they believed these services would become increasingly important. They founded … Continue reading “Dexrex Gear Receives $1,000,000 New Financing”
General Compression Secures $17,000,000 Series A Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f261dc0d-143a-40b0-affc-f9d54e977254&Preview=1 Date 2/24/2010 Company Name General Compression Mailing Address 275 Washington Street Newton, MA 02458 Company Description We are engineers, scientists, investors, and project developers, all committed to expanding clean power. General Compression’s systems are being developed to provide utility-scale storage and firming services for clean energy sources such as wind and … Continue reading “General Compression Secures $17,000,000 Series A Financing”
Marathon Technologies Receives $6,500,000 Series B Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=e7a1ee1a-fc7b-4c5f-a4e8-88917ef8c64f&Preview=1 Date 2/24/2010 Company Name Marathon Technologies Mailing Address 295 Foster Street Littleton, MA 01460 Company Description Marathon’s everRun product family represents a dramatic breakthrough in application availability, moving the market past high availability and continuous availability solutions to what Marathon calls “Infinite Availability. Website http://www.marathontechnologies.com Transaction Type Venture Equity Transaction Amount … Continue reading “Marathon Technologies Receives $6,500,000 Series B Funding Round”
Lemelson-MIT Student Prize Ceremony
Come see the work entered in the 16th annual $30,000 Lemelson-MIT Student Prize competition, which recognizes collegiate innovators and looks to support future entrepreneurs. The free event features presentations by the award winners, and a celebratory reception.
General Compression Announces $17M Series A Round
General Compression, a Newton, MA-based energy storage company, announced today that it has “it has closed over $17 million in commitments to its Series A round of funding.” The funding, from U.S. Renewables Group and Duke Energy, will be used to build General Compression’s first commercial-scale wind power storage unit this year. The company declined … Continue reading “General Compression Announces $17M Series A Round”
Luminus Devices Raises $19M
Investors continue to pour cash into Luminus Devices, the Billerica, MA-based maker of bright, efficient LEDs, at a rate that would startle most entrepreneurs in the life sciences, let alone the hardware, computing, and infotech industries. Luminus announced today that it has raised $19 million in Series F funding, from a group of existing investors … Continue reading “Luminus Devices Raises $19M”
Seahorse Bioscience Bags $5M
Seahorse Bioscience , a biomedical instrument company based in Billerica, MA, announced today that it has closed a $5 million Series D financing round. Participants in the round include return investors Commonwealth Capital Ventures, Rock Maple Ventures, and Life Sciences Partners, and new investors FLIR Systems, Oxford Bioscience Partners, Healthcare Ventures, New Science Ventures, and … Continue reading “Seahorse Bioscience Bags $5M”
Aveo Sets IPO Price Range at $13-$15 a Share
Aveo Pharmaceuticals, a Cambridge, MA-based developer of cancer drugs, has set a price range of $13 to $15 per share for its proposed initial public offering, according to an SEC filing. The firm says it expects to offer 7 million shares in the IPO, in addition to up to 1.05 million shares that would be … Continue reading “Aveo Sets IPO Price Range at $13-$15 a Share”
Monster Cuts 200 Workers
Monster Worldwide (NASDAQ:[[ticker:MWW]]), an online employment services company, is laying off 200 workers around the globe, including nearly 100 jobs between its Maynard, MA, headquarters and Cambridge, MA, offices, company spokesman Matthew Henson confirmed today. Henson said that the layoffs are part of a restructuring plan that has taken place for the past two years. … Continue reading “Monster Cuts 200 Workers”
Celldex CEO Treks From NJ to Massachusetts in Pursuit of Antibody Drugs for Cancer
Every other week, Celldex Therapeutics CEO Anthony Marucci drives four hours and 15 minutes from home in northern New Jersey to his company’s headquarters in Needham, MA. He’s racked up 60,000 miles on his Mercedes-Benz E-class going back and forth. It sounds like the sort of extreme measure an executive might take on a temporary … Continue reading “Celldex CEO Treks From NJ to Massachusetts in Pursuit of Antibody Drugs for Cancer”
Maine Startup mCaddie Raises Angel Funds for Golf App
Quick: Name a consumer passion that generates twice as much revenue as Hollywood movies; in which virtually all of the participants, by definition, have disposable income and an ambition to improve their performance; and which counts among its devotees millions of business executives who carry around gadgets like smartphones. If you named golf, you were … Continue reading “Maine Startup mCaddie Raises Angel Funds for Golf App”
LifeImage and EMC Planning New Cloud Storage Service for Medical Data
When I went to visit LifeImage CEO Hamid Tabatabaie at his firm’s headquarters in Newton, MA, last week, one of my main goals was to learn more about the breadth and depth of the health IT startup’s ties with storage giant EMC (NYSE:[[ticker:EMC]]). That question was quickly answered when EMC senior VP Joel Schwartz walked … Continue reading “LifeImage and EMC Planning New Cloud Storage Service for Medical Data”
$6 Million More for Currensee
Boston-based Currensee, a social network for currency traders, announced today that it has closed an $8 million Series B financing round led by existing investor North Bridge Venture Partners. Egan Managed Capital joined as a new investor, and Egan partner Travis Connors has joined Currensee’s board. Currensee has actually raised $6 million in new funding, … Continue reading “$6 Million More for Currensee”