We’re happy to announce that there’s now an easier to way to read Xconomy on your mobile phone. Go to http://m.xconomy.com for the new mobile-friendly version of our site, which we’ve simplified for easy navigation on small screens. All the usual content is there: our Boston, San Diego, and Seattle news stories, along with Xconomist … Continue reading “Xconomy Goes Mobile at m.xconomy.com”
Category: Boston
State of Venture Quiz No. 2: Deal Terms
A couple weeks ago, I colluded with Michael Greeley, general partner at Flybridge Capital Partners and chairman of the New England Venture Capital Association, to round up some statistics about venture capital here in the Boston area. I then tested readers’ knowledge of the trends with the inaugural State of New England Venture Quiz. The … Continue reading “State of Venture Quiz No. 2: Deal Terms”
AdvanDx Lands $8,000,000 Series C Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=50ba92b4-15d1-4704-901f-20d8b4d674a0&Preview=1 Date 8/18/2009 Company Name AdvanDx Mailing Address 10A Roessler Road Woburn, MA 01801 Company Description AdvanDx develops and markets molecular-based, in vitro diagnostic tests that aid in the diagnosis and prevention of infectious diseases. The rapid test results are available in hours instead of days and allow healthcare providers to make … Continue reading “AdvanDx Lands $8,000,000 Series C Financing”
Kolltan Pharmaceuticals Receives $5,000,000 Series A Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=e03294f4-00a2-4dd3-8fa1-b8e405f5c81c&Preview=1 Date 8/18/2009 Company Name Kolltan Pharmaceuticals Mailing Address 300 George St New Haven, CT 06511 Company Description Kolltan is a development-stage company advancing therapeutics that target well-defined and validated molecular mechanisms of disease in areas of critical clinical need. Website http://www.kolltan.com Transaction Type Venture Equity Transaction Amount $5,000,000 Transaction Round Series … Continue reading “Kolltan Pharmaceuticals Receives $5,000,000 Series A Round”
Genzyme Rival Gets FDA Nod
Protalix BioTherapeutics, an Israel-based biotech company, said today it has received FDA approval for a treatment protocol of its experimental drug for Gaucher’s disease, which will allow patients to get expanded access to the drug during a shortage of the leading therapy, Genzyme’s imiglucerase (Cerezyme). Shares of Protalix (AMEX: [[ticker:PLX]]) climbed 10 percent in mid-day … Continue reading “Genzyme Rival Gets FDA Nod”
Eric Ries: The Lean Start-up Talk
A two hour talk by Eric Ries, well-known author and named by BusinessWeek as one of the Best Young Entrepreneurs of Technology in 2007. He has served as the Chief Technology Officer for his third startup, IMVU, as well as on the advisory board of multiple technology startups. He will discuss the approach of the … Continue reading “Eric Ries: The Lean Start-up Talk”
Evolution or Revolution of Content Delivery Networks (CDNs)
Presented by TieWIN, this event will focus on the role of Content Delivery Networks in today’s expanding internet market and how the changing consumption patterns will bring about opportunities for new strategies, players, and business models. More information can be found on the event’s TiE page.
OVP Leads $14M Novomer Round
According to an announcement expected this Wednesday, Kirkland, WA-based OVP Venture Partners is the lead funder in a $14 million Series B venture round for Boston-based Novomer, which is developing ways to manufacture “green” polymers from renewable materials such as carbon dioxide. The startup, which we profiled in November 2007, was founded in Ithaca, NY, … Continue reading “OVP Leads $14M Novomer Round”
Strategic Alliances as a Tool for Rebuilding Profits in the New Global Economy
Presented by the Licensing Executive Society Boston chapter, this seminar will focus on strategies to help America’s small and mid-sized enterprises (SMEs) use their flexibility to leap ahead in the new global economy. The seminar will explore practices for licensing at SMEs, ways to structure alliances with IP suppliers, and strategies for deal-making. For further … Continue reading “Strategic Alliances as a Tool for Rebuilding Profits in the New Global Economy”
Intelligent Utility Summit – Planning Regional Energy Initiatives (Northeast)
Regional leaders and partners in Boston will come together to discuss energy initiatives backed by the guaranteed funding of the American Recovery and Reinvestment Act (ARRA). Attendees will gain clarity on both who to work with and how to move energy projects forward. Agenda and registration information can be found on the event website.
$6M Alms for Zendesk
Boston-based Zendesk, which sells a software-as-a-service system for customer support management used by Twitter and many other companies, has raised $6 million in Series B funding, according to an announcement circulated today. New investor Benchmark Capital of Menlo Park, CA, led the round, and Waltham’s Charles River Ventures participated pro rata. “Two of our portfolio … Continue reading “$6M Alms for Zendesk”
How NaviNet Built the Country’s Largest Healthcare Communications Network
If you’ve never heard of NaviNet, the builder of what the company claims is the nation’s largest real-time healthcare communications network, then the Cambridge, MA-based firm bears most of the responsibility, says company CEO Brad Waugh. The 11-year-old firm spent its first 10 years building the network and its customer base, and over the past … Continue reading “How NaviNet Built the Country’s Largest Healthcare Communications Network”
Boston-Area Tech Layoffs Slow: A Recap of Summer’s Job Cuts at Analog Devices, CombinatoRx, and Other Firms
If you’re fortunate enough to be gainfully employed, you may have joined the droves of other Boston-area innovators who have headed for the Cape, the White Mountains, or another summertime retreat in recent months. Or perhaps you’ve been busy looking for your next career challenge. Either way, with Labor Day fast approaching, we thought it’d … Continue reading “Boston-Area Tech Layoffs Slow: A Recap of Summer’s Job Cuts at Analog Devices, CombinatoRx, and Other Firms”
Innocentive Raises $7M—One More Time—to Keep Building Problem-Solving Network
In a development that may cause déjà vu for anyone who read my May 2008 story about Waltham, MA-based Innocentive raising approximately $7 million as part of a Series B funding round, Innocentive has raised approximately $7 million as part of a Series B funding round. Again. This time around, it’s $7.3 million, in a … Continue reading “Innocentive Raises $7M—One More Time—to Keep Building Problem-Solving Network”
InnoCentive Garners $7,300,000 Series B Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=689dba20-2d90-4e0b-958b-0155737e185c&Preview=1 Date 8/17/2009 Company Name InnoCentive Mailing Address 201 Jones Rd, 4th Floor East Waltham, MA 02451 Company Description InnoCentive is an exciting new web-based community matching top scientists to relevant R&D challenges facing leading companies from around the globe. Website http://www.innocentive.com Transaction Type Venture Equity Transaction Amount $7,300,000 Transaction Round Series … Continue reading “InnoCentive Garners $7,300,000 Series B Funding”
Green Career Conference
The Clean Energy Learning Group and Green Workforce Training and Associates bring you the first Massachusetts Green Career Conference, designed to provide career guidance, networking opportunities, and employment leads for job seekers in the clean technology area. Fee $45; register here.
Orange Labs to Close
Orange Labs in Cambridge, MA, France Telecom’s East Coast research outpost, will reportedly close down as of October 30. Scott Kirsner of the Boston Globe first reported the story this morning; a France Telecom spokesman told him the Cambridge lab duplicates the functions of other Orange labs in France, Japan, and Silicon Valley. Michael Cappelletti, … Continue reading “Orange Labs to Close”
Dark Day for Digital Photo Services: PicMe, BubbleShare, Riya Fade to Black
In an online photo mini-apocalypse, three Web 2.0-era photo sharing and management services—BubbleShare, Riya, and PicMe—announced late this week that they’re shutting down operations. The closings aren’t entirely coincidental. Greg Raiz of Raizlabs, the Cambridge, MA-based software development house that built PicMe, says he accelerated plans to mothball and hopefully sell the application after he … Continue reading “Dark Day for Digital Photo Services: PicMe, BubbleShare, Riya Fade to Black”
Startups Give E-mail a Big Boost on the iPhone with ReMail and GPush
As a device for managing your e-mail, the Apple iPhone isn’t bad, but it does have a few quirks and limitations. This week, I want to write about two brand-new applications that work around those failings, making the iPhone into a far more powerful tool for staying connected. The first app grabbed my attention because … Continue reading “Startups Give E-mail a Big Boost on the iPhone with ReMail and GPush”
Greentech Media Refreshes Its Venture Coffers
Regulatory documents filed yesterday show that Cambridge, MA-based Greentech Media, which covers cleantech innovation through an online news site, market research, and events, has collected $825,000 of a planned $1.25 million equity funding round. Contacted by Xconomy, Greentech Media’s president and CEO Scott Clavenna says the money is an extension of the $2.75 million Series … Continue reading “Greentech Media Refreshes Its Venture Coffers”
Hard Work is Essential for Startups. But How Much is Too Much? (Part 2)
Yesterday, I talked a little about balancing short and long-term effort at a startup. Today, I want to discuss “cranking,” which I’ll define as a short-run effort to achieve an extremely important short-term goal. How hard can people possibly crank? For a sufficiently motivating goal, people can work well in excess of 70 hours per … Continue reading “Hard Work is Essential for Startups. But How Much is Too Much? (Part 2)”
VMware Springs for SpringSource, Turbine Takes $6.7M, CombinatoRx Teams With Clinical Data, & More Boston-Area Deals News
Boston- and Cambridge-based tech and life sciences firms cut the usual assortment of deals this week, but their brethren further out in New England were unusually active as well. —Marathon Technologies raised a $7 million round of equity financing from undisclosed investors. The Littleton, MA-based firm makes disaster-recovery software for virtual and physical servers. —Norwalk, … Continue reading “VMware Springs for SpringSource, Turbine Takes $6.7M, CombinatoRx Teams With Clinical Data, & More Boston-Area Deals News”
93 More Layoffs at Sonus
Sonus Networks (NASDAQ: [[ticker:SONS]]), the Westford, MA-based maker of voice-over-IP software and equipment for wireless, cable, and telephone companies, announced today that it has cut 93 workers, or approximately 10 percent of its global workforce. Richard Nottenburg, Sonus’s CEO and president, called the layoffs “the final phase of the restructuring initiative we began at the … Continue reading “93 More Layoffs at Sonus”
Fashion Playtes Raises $1.5M, Plans Fall Launch
Fashion Playtes, a Salem, MA-based provider of a website where girls can design their own cloths and fashion accessories, has raised $1.5 million in a Series A round of financing led by LaunchCapital and New Atlantic Ventures, according to a press release. Both investment firms have offices in Cambridge, MA. The startup says that its … Continue reading “Fashion Playtes Raises $1.5M, Plans Fall Launch”
Boxee Bags $6M from GC, Spark
Cambridge, MA, venture firm General Catalyst Partners is the lead investor in a $6 million Series B funding round announced today by New York, NY-based Boxee, which makes video browser software for navigating online video offerings on the large screen of a television. Existing investor Spark Capital of Boston was also in on the round, … Continue reading “Boxee Bags $6M from GC, Spark”
Constellation Pharma Hires New CEO, Collects Last $17M of its Series A Financing
Constellation Pharmaceuticals is on a mission to discover the next generation of cancer drugs by tapping the science of “epigenetics.” The Cambridge, MA-based biotech startup said today that a veteran physician and executive has come aboard to helm the effort, and the firm’s investors have handed over $17.2 million to support the cause. New Constellation … Continue reading “Constellation Pharma Hires New CEO, Collects Last $17M of its Series A Financing”
$252M Potential in CLDA and CombinatoRx Deal
Cambridge, MA-based drug developer CombinatoRx (NASDAQ:[[ticker:CRXX]]) has licensed a compound from Clinical Data (NASDAQ:[[ticker:CLDA]]), of Newton, MA, to develop a combination treatment for multiple myeloma and other B-cell cancers, according to a press release. Clinical Data is eligible for up to $252 million in milestone fees from CombinatoRx and royalty payments on potential drug sales.
Vitality, Connecting Pill Bottles to the Internet, Nudges People to Remember Their Meds
If you’re the kind of person who needs a little help remembering to take your prescription meds, Cambridge, MA-based Vitality might have just the technology you need. It’s a wireless, Internet-connected medicine bottle cap that blinks and plays a tune when it’s time to down your pills. The company’s “GlowCaps” system, which goes on sale … Continue reading “Vitality, Connecting Pill Bottles to the Internet, Nudges People to Remember Their Meds”
Hard Work Is Essential for Startups. But How Much is Too Much? (Part 1)
Xconomy has seen a vigorous discussion of work/life balance in Seattle. Is Seattle slack compared to the San Francisco Bay Area? If so, does the difference matter? Janis Machala of UW TechTransfer brought up this point during a recent panel discussion, and it has stirred debate. I personally don’t think work/life balance is the most … Continue reading “Hard Work Is Essential for Startups. But How Much is Too Much? (Part 1)”
Alnylam, Tekmira and New Northwest Firm, AlCana, Push Boundaries of RNAi Delivery
Alnylam Pharmaceuticals is looking to the frontiers of science for ideas on how to best deliver RNA interference drugs throughout the body, and the Cambridge, MA-based company sounds most jazzed about what it sees emerging from laboratories in Vancouver, BC. Back in May, I wrote about how Alnylam—one of the richest companies in biotech—was leaning … Continue reading “Alnylam, Tekmira and New Northwest Firm, AlCana, Push Boundaries of RNAi Delivery”
Fashion Playtes Garners $1,500,000 Series A Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=655a1685-cb08-4c52-8ff3-d360b9f1a690&Preview=1 Date 8/13/2009 Company Name Fashion Playtes Mailing Address 10 Derby Square Salem, MA 01970 Company Description As a young girl I designed most of my clothing and was fortunate to have a very talented mother who could sew. She indulged me and made wonderful custom outfits for my first days of … Continue reading “Fashion Playtes Garners $1,500,000 Series A Funding”
Momenta Pharma Competitor Lodges Ethics Complaint Against FDA Boss, WSJ Reports
A story in the Wall Street Journal today about an ethics complaint against a top official at the FDA has brought new attention to Cambridge, MA-based Momenta Pharmaceuticals’ effort to win approval of its generic version of a multibillion-dollar blood thinner. The WSJ reports that Amphastar Pharmaceuticals, of Rancho Cucamonga, CA, is alleging that Momenta … Continue reading “Momenta Pharma Competitor Lodges Ethics Complaint Against FDA Boss, WSJ Reports”
SustainX Secures $4M Financing
SustainX, a West Lebanon, NH-based provider of energy storage systems, has raised $4 million in an equity round of financing, according to an SEC filing. The firm says on its website that it has developed a system for storing electrical energy in the form of compressed air, providing a cleaner alternative to traditional energy storage … Continue reading “SustainX Secures $4M Financing”
Biogen Idec Faces Suit From Partner Elan, Genzyme Wins European Approval for Stem-Cell Boosting Drug, Alnylam Teams with Tekmira, & More Boston-Area Life Sciences News
This week we had the usual mix of news on partnerships, clinical trials, and the like, as well as some fascinating in-depth discussions with key players in the life sciences arena. —Antibiotic developer Rib-X Pharmaceuticals announced that the oral form its experimental antibiotic radezolid passed a mid-stage clinical trial as a treatment for a common … Continue reading “Biogen Idec Faces Suit From Partner Elan, Genzyme Wins European Approval for Stem-Cell Boosting Drug, Alnylam Teams with Tekmira, & More Boston-Area Life Sciences News”
MIT Sloan Prof, Richard Locke, Talks Sustainability at Amazon, Intel, Nike
One of MIT’s leading business professors, Richard Locke, came to Seattle yesterday to talk about the “S” word. Yes, we’ve been hearing a lot about sustainability lately, in the context of technology and business. Big companies like Microsoft, Amazon, and Boeing are talking seriously about the issue. Smaller Seattle-area companies like Verdiem, Powerit Solutions, and … Continue reading “MIT Sloan Prof, Richard Locke, Talks Sustainability at Amazon, Intel, Nike”
Jules Pieri of The Daily Grommet Wants to Make You Think Outside the Retail Big Box
Last month I wrote about the Daily Grommet, an e-commerce startup in Lexington, MA, whose website features one cool new product or service—a “grommet,” to use the company’s term—every weekday. Far from being yet another automated online store, the Daily Grommet puts its own staff members on camera to record short, homey, informally edited videos … Continue reading “Jules Pieri of The Daily Grommet Wants to Make You Think Outside the Retail Big Box”
SustainX Garners $4,000,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=ec8b3e74-f07d-4571-8283-a567f11a386b&Preview=1 Date 8/12/2009 Company Name SustainX Mailing Address 7 Commerce Ave. West Lebanon, NH 03784 Company Description SustainX is an energy storage technology developer whose solution is cost effective, low maintenance, non-toxic, and highly efficient. The technology is being developed to provide a solution for enhancing the value of renewable energy, commercial … Continue reading “SustainX Garners $4,000,000 New Financing Round”
MyWebGrocer Wraps Up $13M Investment
Colchester, VT-based MyWebGrocer, a provider of online commerce software and digital media services for grocery stores and consumer goods companies, announced on its website yesterday that it has raised $13 million in equity financing from New York, NY, investment firm Stripes Group. Stripes Group managing partner Dan Marriott is taking a seat on the company’s … Continue reading “MyWebGrocer Wraps Up $13M Investment”
Networking for Career Success
Presented by TiEWIN, this event will focus on ways to stand out from other well-qualified job seekers. Three prominent leaders, Senator Karen Spilka, Judge Sabita Singh, and Eustacia Reidy will discuss the steps they took on their journeys to the positions they now hold. For more information, visit the events page on the TiE webstie.
Javelin Pharma Stock Takes Hit
Javelin Pharmaceuticals’s stock had lost more than a quarter of its value as of late this morning. This comes on the heels of the Cambridge, MA-based drug developer (AMEX:[[ticker:JAV]]) announcing this morning that its late-stage clinical of intranasal ketamine (Ereska) showed “borderline” statistical improvement over placebo in treating pain after orthopedic surgery. According to Google … Continue reading “Javelin Pharma Stock Takes Hit”
Boston GameLoop
This one-day, self-organized “unconference” is focused on professionals in the computer and video game development business—“artists, programmers, designers, producers, QA—hell, even executives,” in the words of the conference website. Students, academics, and aspiring game developers need not apply. $20 donation suggested; RSVP required via e-mail. More information here.
Alnylam Takes Moment to Pause on Cutting Edge, Mull Options on RSV Game Plan
Navigating the world of cutting-edge drug development can be thrilling, but you can sometimes find yourself in a gray zone. That’s the impression I got from a conversation yesterday with Alnylam Pharmaceuticals CEO John Maraganore about the many options he’s carefully mulling over before deciding whether to bet bigger company resources on his lead drug … Continue reading “Alnylam Takes Moment to Pause on Cutting Edge, Mull Options on RSV Game Plan”
$2.6M Financing for Imaginatik
Imaginatik, a provider crowdsourcing software for large businesses, said yesterday that it has raised $2.6 million from unnamed new and previous investors. The firm (AIM:[[ticker:IMTK]]) has main offices in Boston and Winchester, United Kingdom, according to its website. The company said the funding will bankroll its growth plans and further development of enterprise crowdsourcing software, … Continue reading “$2.6M Financing for Imaginatik”
VMware Drinks Up SpringSource
VMware (NYSE: [[ticker:VMW]]), the Palo Alto, CA-based virtualization subsidiary of Hopkinton, MA-based information management giant EMC (NYSE: [[ticker:EMC]]), said yesterday that it has agreed to acquire SpringSource for $420 million in cash and stock. The San Mateo company makes tools used by developers to write Java software. The deal, VMware’s largest acquisition to date, has … Continue reading “VMware Drinks Up SpringSource”
Energy Secretary Steven Chu: Hire Brash Young Turks to Create the New Bell Labs
Steven Chu was once a young turk scientist in the late 1970s at Bell Labs, the hothouse that gave the world the transistor, satellites, and all sorts of other high tech inventions. Now that he’s the U.S. Secretary of Energy, overseeing 30,000 government scientists and engineers around the country, Chu is drawing on his own … Continue reading “Energy Secretary Steven Chu: Hire Brash Young Turks to Create the New Bell Labs”
A Visit to Olin College: A Design-Oriented Future of American Engineering
[Updated and corrected, August 11—see below] Anyone who has spent much time in universities knows that openness, teamwork, and collaboration are widely taught, but not always widely practiced. And when it comes to implementing entirely new models of education, well, let’s just say that institutional barriers, turf wars, bureaucracy, and tradition all too often derail … Continue reading “A Visit to Olin College: A Design-Oriented Future of American Engineering”
Bay State Startup Investments Soared in July—Internet the Busiest Sector
Investments in Massachusetts startups rose as fast in July as the Red Sox have fallen in August. Venture investors poured some $215 million into a whopping 25 deals last month. That marked a 54 percent jump over the $139.5 million invested in 15 deals in June, according to data provided to Xconomy by ChubbyBrain, a … Continue reading “Bay State Startup Investments Soared in July—Internet the Busiest Sector”
MyWebGrocer Secures $13,000,000 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=26c78ff6-4780-46fd-9577-5892f530079c&Preview=1 Date 8/11/2009 Company Name MyWebGrocer Mailing Address 354 Mountain View Dr Colchester, VT 05446 Company Description Founded in 1999, by Rich Tarrant, MyWebGrocer is based in Colchester Vermont. We maintain a full service team of development, database, networking, website design and customer service professionals. We provide a variety of eCommerce and … Continue reading “MyWebGrocer Secures $13,000,000 New Round”
iMedX Lands $13,000,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=09fc6e45-b2af-432a-be9a-e95478c5ad7a&Preview=1 Date 8/11/2009 Company Name iMedX Mailing Address Four Corporate Drive Shelton, CT 06484 Company Description iMedX, Inc. is a rapidly growing medical software and services company headquartered in Shelton, Connecticut. The Company’s main product is TurboScribe®, a unique combination of medical transcription software and service. With TurboScribe®, physician practices can halve … Continue reading “iMedX Lands $13,000,000 New Financing”
Turbine Collects $6.6M of $50M Round for Role-Playing Empire
Turbine, the Westwood, MA-based maker of online role-playing games profiled here last week, has obtained $6.57 million of a planned $50 million Series D round of financing from its venture funders, according to a document filed today with the Securities and Exchange Commission. The funding was first reported by Dan Primack at PE Hub. So … Continue reading “Turbine Collects $6.6M of $50M Round for Role-Playing Empire”