Category: Boston

Xconomy Podcast Previews the Fifth Conference on Clean Energy

The Fifth Conference on Clean Energy, one of the biggest events of the year for New England energy and cleantech entrepreneurs, is coming up November 12 and 13 at the Hynes Convention Center in Boston. For the second year in a row, I worked with the organizers of the conference—the Massachusetts Technology Transfer Center and … Continue reading “Xconomy Podcast Previews the Fifth Conference on Clean Energy”

Microsoft Lays Off 800 More; Washington and Massachusetts Affected

Microsoft has confirmed it is cutting 800 positions across the company today, in its third round of layoffs this year. About a quarter of the jobs are in the Seattle area, and an unspecified number of employees in Massachusetts are impacted, among other regions. It is not yet clear which product groups and divisions will … Continue reading “Microsoft Lays Off 800 More; Washington and Massachusetts Affected”

Vertex and Ironwood Drugs Fare Well in Clinical Trials, Pulmatrix Breathes in $30.2M, IRobot Launches Healthcare Unit, & More Boston-Area Life Sciences News

A number of New England’s life sciences companies had good news to report this week. —Cambridge, MA-based Vertex Pharmaceuticals (NASDAQ: [[ticker:VRTX]]) reported results from clinical trials that indicate its experimental hepatitis C drug, telaprevir, could work well for patients who haven’t responded fully to standard treatments, and could be as effective taken twice a day … Continue reading “Vertex and Ironwood Drugs Fare Well in Clinical Trials, Pulmatrix Breathes in $30.2M, IRobot Launches Healthcare Unit, & More Boston-Area Life Sciences News”

The Litl Computer That Could? Boston Startup Tries a New Take on the Home Internet Appliance

Somebody forgot to tell John Chuang that it’s impossible to create a new kind of home computer these days. Either that, or he didn’t listen. Because Chuang, a serial entrepreneur who made his first fortune in the staffing industry with Boston-based Aquent, has built a gadget that looks deceptively like a laptop but works nothing … Continue reading “The Litl Computer That Could? Boston Startup Tries a New Take on the Home Internet Appliance”

In Wondertouch Acquisition, GenArts Adds Fizz to its FX

GenArts, the Cambridge, MA-based visual special effects startup, has added sparkles to its glints. Which is to say, it has acquired a small St. Louis, MO-based company called Wondertouch that specializes in software that generates so-called “particle-based” special effects—think fireworks, explosions, smoke, clouds, comets, and pixie dust. Executives at GenArts say the technology nicely complements … Continue reading “In Wondertouch Acquisition, GenArts Adds Fizz to its FX”

MassTLC, MassNetComms To Merge

The leaders of two of the biggest associations representing the information technology industry in Massachusetts—the Massachusetts Technology Leadership Council, better known as MassTLC, and the Massachusetts Network Communications Council, or MassNetComms—said today that the organizations are joining forces under the banner of MassTLC, the larger and more well recognized of the two. “We can do … Continue reading “MassTLC, MassNetComms To Merge”

See You There Tomorrow at Pharma’s Bet on Boston Innovation

I’m dashing this message off right before I get on a plane for Xconomy’s big event tomorrow afternoon: “Pharma’s Bet on Boston Innovation.” Only a few tickets are left for this gathering at the Hyatt Regency in Cambridge, MA. I’m personally excited to fly in from Seattle for this event because it will bring together … Continue reading “See You There Tomorrow at Pharma’s Bet on Boston Innovation”

Ironwood, Forest Labs Drug for Chronic Constipation Passes Two Pivotal Trials

Cambridge, MA-based Ironwood Pharmaceuticals has some new evidence out this morning that its lead drug candidate is an effective treatment for patients with chronic constipation. Ironwood and its partner, New York-based Forest Laboratories (NYSE: [[ticker:FRX]]) said last night that the drug, linaclotide, passed the test in a pair of pivotal clinical trials. A significant percentange … Continue reading “Ironwood, Forest Labs Drug for Chronic Constipation Passes Two Pivotal Trials”

Flybridge Leads 10gen B Round

10gen, a New York-based startup developing the open-source database MongoDB, has raised $3.4 million in Series B venture backing from Boston’s Flybridge Capital Partners and returning investor Union Square Ventures, Flybridge said yesterday. MongoDB is similar to Google’s BigTable and is considered one of the leading examples of non-relational or “NoSQL” database, designed to be … Continue reading “Flybridge Leads 10gen B Round”

On-Q-ity Raises $21M in A Round for Personalized Cancer Testing

Waltham, MA-based diagnostics firm On-Q-ity has found $21 million in a Series A round of venture capital, according to a story this morning in peHUB. The developer of cancer tests was formed through the combination of CELLective Diagnostics and The DNA Repair Company, both portfolio companies of Mohr Davidow Ventures that had been unable to … Continue reading “On-Q-ity Raises $21M in A Round for Personalized Cancer Testing”

EnvIO Releases iPhone App

Andover, MA-based envIO Networks has spent several years developing a recommendation technology called “Social Genome” that helps mobile phone owners find applications they’ll like based on the preferences of their friends and acquaintances. Today envIO introduced software called Chorus that applies the Social Genome technology to the 100,000-plus apps in the Apple iTunes App Store. … Continue reading “EnvIO Releases iPhone App”

The Story of Google Friend Connect: Google Cambridge’s First Wholly Home-Grown Product

[Updated and corrected, see below—Also see end of story for news of Google announcement of Nov. 4] In May 2008, Google moved into colorful (hey, it’s Google) new offices in the heart of Kendall Square. Governor Deval Patrick played ping-pong at the grand opening with Google site director Steve Vinter. And since then, Google Cambridge … Continue reading “The Story of Google Friend Connect: Google Cambridge’s First Wholly Home-Grown Product”

Exploring Mountains of Innovation in Northern New England

It’s not that I thought Vermont and New Hampshire were technological backwaters, because I knew from my years of working in Boston that the local venture capitalists were pumping millions of dollars into startups in the two northern New England states. But what I’ve found over the past year or so of living in both … Continue reading “Exploring Mountains of Innovation in Northern New England”

On-Q-ity Lands $21,000,000 Series A Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f9b90e4b-0177-4852-8d34-469dd7f70fa7&Preview=1 Date 11/3/2009 Company Name On-Q-ity Mailing Address 610 Lincoln Street Waltham, MA 02451 Company Description Informed decisions will improve the way cancer is treated. On-Q-ity is an innovative diagnostic company that is focused on providing physicians with the tools they need to make the best decision when treating individual cancer patients. … Continue reading “On-Q-ity Lands $21,000,000 Series A Financing”

E Ink, Marvell Create a Chip for Cheaper E-Book Devices

If you thought the e-reader market was already confusing—with Sony, Amazon, and Barnes & Noble all offering their own unique versions of e-book devices based on the same underlying electronic paper display technology from Cambridge, MA-based E Ink—get ready for a new level of chaos. Companies like Interead in England and Irex in the Netherlands … Continue reading “E Ink, Marvell Create a Chip for Cheaper E-Book Devices”

Greylock Adds Reid Hoffman as Partner

Greylock Partners, a Silicon Valley venture firm formerly based in the Boston area, announced today it has hired Reid Hoffman, the co-founder and executive chairman of LinkedIn, as a partner. Hoffman, who has also been an angel investor, will focus on early-stage consumer Internet and software investments, as well as advise entrepreneurs from Greylock’s portfolio … Continue reading “Greylock Adds Reid Hoffman as Partner”

Negroponte Outlines the Future of OLPC—Hints at Paperlike Design for Third Generation Laptop

[Updated 11/2/09 with additional details about 3rd-generation laptop design, see page 2] After the October 24 announcement that the Internet Archive is about to make 1.6 million e-books available free to children with XO Laptops from the One Laptop Per Child Foundation, we decided it was time to catch up with OLPC’s founder and chairman, … Continue reading “Negroponte Outlines the Future of OLPC—Hints at Paperlike Design for Third Generation Laptop”

GTC Raises $10M from LFB Biotech

Framingham, MA-based GTC Biotherapeutics (NASDAQ:[[ticker:GTCB]]) said it has raised $10 million through the sale of its shares to French biotech drug maker LFB Biotechnologies, a major shareholder in GTC. GTC chief executive Christian Béchon also revealed in a statement that the company planned to reduce expenses by $5 million to $6 million in 2010, focusing … Continue reading “GTC Raises $10M from LFB Biotech”

Pulmatrix Scores $30M To Block All Sorts of Bugs That Make People Sick in the Lungs

Pulmatrix, the Lexington, MA-based company working to stop infectious bugs from being absorbed into the lungs, has raised $30.2 million in a Series B venture round to advance its unorthodox method for treating and preventing respiratory diseases like flu, the company is announcing today. Arch Venture Partners and Novartis Bioventures Fund co-led the new financing, … Continue reading “Pulmatrix Scores $30M To Block All Sorts of Bugs That Make People Sick in the Lungs”

New England Biz Plan Competitions That Offer Cash and Connections to Entrepreneurs

It seems like every few days since Labor Day weekend we at Xconomy get invited to attend or cover an entrepreneurship competition. This is a good thing. It means there are more and more opportunities for innovators in New England to gain exposure to the business community and investors—as well as a chance to win … Continue reading “New England Biz Plan Competitions That Offer Cash and Connections to Entrepreneurs”

MIT Elevator Pitch Contest Takes Startup Salesmanship to New Level

How does $300,000 an hour sound? Walking away with $5,000 for his 60-second pitch, the winner of Thursday night’s MIT $100K Elevator Pitch Contest (EPC), Rouzbeh Shahsavari, seemed pretty excited about it. His idea? Nanoengineered concrete that is twice as strong, cuts CO2 emissions in half, and is dramatically cheaper than typical concrete. The EPC … Continue reading “MIT Elevator Pitch Contest Takes Startup Salesmanship to New Level”

Pulmatrix Receives $30,200,000 Series B Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=175b2c27-b665-4448-90b0-3a77f64aeed8&Preview=1 Date 11/2/2009 Company Name Pulmatrix Mailing Address 99 Hayden Avenue Lexington, MA 02421 Company Description Pulmatrix Inc. is a pharmaceutical company developing inhalable aerosols and enabling technologies that help control respiratory infectious disease and human-source airborne contamination. Website http://www.pulmatrix.com Transaction Type Venture Equity Transaction Amount $30,200,000 Transaction Round Series B Proceeds … Continue reading “Pulmatrix Receives $30,200,000 Series B Round”

NCR Corp Acquires Netkey for Undisclosed Sum

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=26838db9-bba9-4bd6-911a-eef297644254&Preview=1 Date 11/2/2009 Company Name Netkey Mailing Address 100 South Shore Drive East Haven, CT 06512 Company Description Netkey provides the industry-standard software platform for authoring, securing, monitoring and managing self-service applications delivered on kiosks, PC terminals and digital signs. Website http://www.netkey.com Transaction Type M&A Transaction Amount Undisclosed Transaction Round Proceeds Purposes … Continue reading “NCR Corp Acquires Netkey for Undisclosed Sum”

Vertex Hepatitis C Drug Passes Key Test With More Convenient, Twice-Daily Dose

Vertex Pharmaceuticals wants to make sure doctors walk away from this weekend’s big liver disease research meeting with two main ideas stuck in their heads. No. 1—The company’s experimental drug is showing that it can cure even the toughest-to-treat patients with hepatitis C. No. 2—it may work just as well in a twice-daily dose as … Continue reading “Vertex Hepatitis C Drug Passes Key Test With More Convenient, Twice-Daily Dose”

Cequent Pharmaceuticals, With First Oral RNAi Drug Soon to Enter Humans, Raises $3.4M

[Update: 7:15 pm Eastern, 10/30/09] Cambridge, MA-based Cequent Pharmaceuticals, one of the many aspiring firms in the field of RNA interference drug technology, has raised $3.35 million in equity in the first tranche of a venture round that could be worth as much as $15 million, according to CEO Peter Parker. A regulatory filing released … Continue reading “Cequent Pharmaceuticals, With First Oral RNAi Drug Soon to Enter Humans, Raises $3.4M”

RunMyErrand Picks Up $1 Million from West Coast Venture Firms

RunMyErrand, the Boston-based online clearinghouse where busy people can recruit temporary helpers to complete tasks around town, doesn’t have a branch in the San Francisco Bay Area (yet). But if it did, founder and CEO Leah Busque might be using it to pick up checks from Baseline Ventures and Maples Investments this week. Baseline, in … Continue reading “RunMyErrand Picks Up $1 Million from West Coast Venture Firms”

Idenix Shares Drop as Novartis Walks Away From Hepatitis C Drug

Shares of Cambridge, MA-based Idenix Pharmaceuticals plummeted in early trading this morning after Novartis declined an option to further develop an Idenix drug for the liver disease hepatitis C. Idenix (NASDAQ: [[ticker:IDIX]]) dropped 14 percent to $2.15 shortly after the opening bell this morning after the announcement, and the stock was downgraded by the investment … Continue reading “Idenix Shares Drop as Novartis Walks Away From Hepatitis C Drug”

Spark, Bezos Back Aviary, American Well Nabs $10M, Virdante Banks $30M, & More Boston-Area-Deals News

An unusually high percentage of this week’s New England tech and life sciences deals came from companies based in Boston proper. What’s up with that? —Spark Capital of Boston led a $7 million Series B investment in Long Island, NY-based Aviary. Backed also by Bezos Expeditions, Aviary makes cloud-based software for graphic design, audio editing, … Continue reading “Spark, Bezos Back Aviary, American Well Nabs $10M, Virdante Banks $30M, & More Boston-Area-Deals News”

Under the Radar Deals: 10 New England High-Tech Financings You Haven’t Heard About

There’s a big argument over whether venture capitalists and even angel investors are doing as many early stage or small deals these days. The general sentiment is that no, they aren’t. Since we began our monthly roundup of Massachusetts venture deals back in June, however, we’ve argued that the data doesn’t support that view: virtually … Continue reading “Under the Radar Deals: 10 New England High-Tech Financings You Haven’t Heard About”

Sony, Google Point the Way Toward a More Open Future for E-Books

In a presentation at the Boston Book Festival last weekend, Jon Orwant, a Google engineer involved in the company’s Book Search project, made a memorable and, I thought, quite perceptive remark about the e-book business. “Think about the books you have at home and how you organize them,” Orwant said. “Some of you may not … Continue reading “Sony, Google Point the Way Toward a More Open Future for E-Books”

RUNmyERRAND Secures $1,000,000 Series A Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=6f0d46a4-1c82-41d1-8ba8-26958d1ebebf&Preview=1 Date 10/30/2009 Company Name RUNmyERRAND Mailing Address 102 Bartlett Street Charlestown, MA 02129 Company Description RUNmyERRAND is about solving an age old problem – there is never enough time in the day, how are we suppose to get it all done? With RUNmyERRAND we can harness the power that has always … Continue reading “RUNmyERRAND Secures $1,000,000 Series A Financing”

Xconomy Hosts Investing Legend Peter Brooke: The Photo Gallery

Last Wednesday, October 21, it was our privilege at Xconomy to provide a stage for a conversation between two legends of the investing world. The guest of honor was Peter Brooke, the founder of Advent International and TA Associates and the man most widely credited with spreading the idea of venture capital and private equity … Continue reading “Xconomy Hosts Investing Legend Peter Brooke: The Photo Gallery”

Singapore Backs ScanScout in $8.5M B Round

ScanScout, a Boston-based provider of in-stream online video ads, said it has completed its $8.5 million Series B round of venture capital with an investment from EDB Investments, a firm that invests on behalf of the government of Singapore. ScanScout is also establishing an office in Singapore as part its expansion into the Asian market. … Continue reading “Singapore Backs ScanScout in $8.5M B Round”

R.I.P. Orange Labs Cambridge (2002-2009): A Story of Opportunities Missed

[Corrected and updated, 10/28/09, 12:40 p.m.; see page 4.] Back in 2002, it must have sounded like a good idea for Orange, a fast-growing European wireless provider known more for the simplicity of its services than for their sophistication, to open an R&D center in Boston, where it could hire a troop of brainy engineers, … Continue reading “R.I.P. Orange Labs Cambridge (2002-2009): A Story of Opportunities Missed”

Virdante Pharma Lands $30M in A Round to Combat Inflammation

Virdante Pharmaceuticals is expanding development of its anti-inflammatory drugs with a second closing of what is now a $30 million Series A round of venture capital, the company’s CEO, John Ripple, said. The Cambridge, MA-based biotech startup has found potential ways to boost the anti-inflammatory effects of conventional antibody drugs and to create novel therapies … Continue reading “Virdante Pharma Lands $30M in A Round to Combat Inflammation”

Virdante Pharmaceuticals Garners $47,750,000 New Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f2093eb0-7909-4d68-9135-22c7ee4b2b04&Preview=1 Date 10/29/2009 Company Name Virdante Pharmaceuticals Mailing Address 14 Cambridge Center Bldg 1 Cambridge, MA 02142 Company Description Virdante is a privately held biopharmaceutical company focused on the development and commercialization of drugs for autoimmune and inflammatory disorders. Website http://www.virdante.com Transaction Type Venture Equity Transaction Amount $47,750,000 Transaction Round Undisclosed Proceeds … Continue reading “Virdante Pharmaceuticals Garners $47,750,000 New Financing”

Stryker Biotech Division Indicted for FDA Fraud by Massachusetts Grand Jury

Stryker, the Kalamazoo, MI-based maker of orthopedic hip implants and other medical devices, said today that its biotech division in Hopkinton, MA, along with certain current and former employees, have been indicted by a federal grand jury for conspiracy to defraud the FDA. The company (NYSE: [[ticker:SYK]]) disclosed on March 10 that its Stryker Biotech … Continue reading “Stryker Biotech Division Indicted for FDA Fraud by Massachusetts Grand Jury”

$2.5M for CorNova

CorNova, a Burlington, MA-based developer of coronary stents with platinum surfaces, has raised $2.5 million of a proposed $6 million in equity financing, according to an SEC filing. The filing does not list the investors in the round, but peHUB writes that the firm’s previous investors include AdvanSource Biomaterials (formerly named CardioTech International) and Implant … Continue reading “$2.5M for CorNova”

Babson Rocket Pitch 2009

No, not Roger Clemens. This Rocket Pitch is Babson College entrepreneurs (students and alumni) with 3 minutes and 3 PowerPoint slides to pitch their business ideas to a large audience of students, faculty, entrepreneurs, investors, and service providers. Pitches happen in rapid succession in multiple rooms with no time for questions allotted. Networking reception—with entrepreneurs … Continue reading “Babson Rocket Pitch 2009”

2009 Mass Technology Leadership Awards

The 12th Annual Mass Technology Leadership Awards program spotlights the companies, people, and technologies that exemplify the best and the brightest in the Massachusetts technology community. Two special awards will be presented: the 2009 Commonwealth Award to Leo Beranek, Founder, Bolt Beranek and Newman (BBN), and the 2009 Innovation Catalyst Award to Bill Warner, Founder, … Continue reading “2009 Mass Technology Leadership Awards”

Pennsylvania Firm Buys Rue La La, Smart Bargains for As Much As $350 Million; Throws Open Doors to Invitation-Only Retail Site

GSI Commerce (NASDAQ: [[ticker:GSIC]]), an e-commerce company that powers the online stores for dozens of prominent consumer brands, announced yesterday that it will purchase Boston-based Retail Convergence Incorporated (RCI) for $180 million in cash and stock and up to $170 million in follow-on payments, depending on RCI’s performance. RCI owns both Rue La La, a … Continue reading “Pennsylvania Firm Buys Rue La La, Smart Bargains for As Much As $350 Million; Throws Open Doors to Invitation-Only Retail Site”

Vertex Hepatitis C Drug Wipes Out Virus For Toughest-to-Treat Patients

Vertex Pharmaceuticals (NASDAQ: [[ticker:VRTX]]) is vying to set a new standard of care for hepatitis C in some of the toughest patients to treat, and today it is reporting some surprisingly strong evidence that suggests the drug is working like researchers hoped it would over the long haul. The Cambridge, MA-based biotech company offered an … Continue reading “Vertex Hepatitis C Drug Wipes Out Virus For Toughest-to-Treat Patients”

My Worst Boss Ever: Hard-Earned Lessons on Entrepreneurship and Leadership From Members of Boston’s Innovation Community

Bosses come and bosses go. Great bosses can inspire and mentor and lead through the toughest times. Really bad bosses can poison and divide an organization, and lead it to ruin even if things aren’t that bad. In the course of my career I’ve come across many a successful person with a bad-boss tale to … Continue reading “My Worst Boss Ever: Hard-Earned Lessons on Entrepreneurship and Leadership From Members of Boston’s Innovation Community”

European Regulators Question Antigenics and Biogen Idec Drugs, BioAssets Bags $30M in Option Deal, & More Boston-Area Life Sciences News

Europe’s drug regulators were not kind to a couple of Massachusetts biotech firms this week, but other New England life sciences companies had happier news to report. —European drug regulators turned down Lexington, MA-based Antigenics’ bid for approval to market vitespen (Oncophage), a “cancer vaccine” for patients with kidney cancer. Shares of Antigenics (NASDAQ: [[ticker:AGEN]]) … Continue reading “European Regulators Question Antigenics and Biogen Idec Drugs, BioAssets Bags $30M in Option Deal, & More Boston-Area Life Sciences News”

CorNova Receives $3,000,000 New Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=dc367eb2-43fc-457c-b4bd-24c592715b83&Preview=1 Date 10/28/2009 Company Name CorNova Mailing Address 21 A Street Burlington, MA 01803 Company Description CorNova® is a developer of next-generation endovascular products designed to integrate new technologies into existing products and procedures, resulting in better patient outcomes without added procedure time and patient risk. The FiberHalo™ stent deployment catheter will … Continue reading “CorNova Receives $3,000,000 New Funding Round”

Polaris Venture Adds Google Vet

Polaris Venture Partners, which has its main office in Waltham, MA, has tapped former Google employee Jon Steinberg to be an executive in residence at the venture firm, VentureWire reports. VentureWire writes that Steinberg, a former strategic partner development manager at Google (NASDAQ:[[ticker:GOOG]]), will be based in the New York office of Polaris. Polaris also … Continue reading “Polaris Venture Adds Google Vet”

LaunchCapital Aims to Fill Lending Gap

LaunchCapital, a Cambridge, MA-based firm focused on early-stage financing, revealed today on its website that it has launched a lending option for small businesses. The firm plans to lend up to $150,000 to young businesses that are within six months of gaining revenue, and the deals would provide LaunchCapital with a small equity stake in … Continue reading “LaunchCapital Aims to Fill Lending Gap”