Category: Boston

Do Non-Competes Curtail Startup Investments? Brownsberger and Rowe Do A Data Dive and Kick Off A Deeper Discussion

The argument over non-compete clauses in employment agreements is front and center in most discussions over ways Massachusetts can square up better against Silicon Valley. Proponents of getting rid of non-competes argue that they curtail innovation. Fearful of getting sued when they leave their employers, so the theory goes, would-be entrepreneurs either forego starting their … Continue reading “Do Non-Competes Curtail Startup Investments? Brownsberger and Rowe Do A Data Dive and Kick Off A Deeper Discussion”

Unmanned Vehicle Makers from Boston, Seattle, and San Diego (Xconomy’s Cities) Showcase Advances at DC Confab

The world’s largest collection of unmanned aircraft and other robotic systems is coming in for a landing this week in Washington, D.C., at a four-day conference that’s sponsored by AUVSI, the Association for Unmanned Vehicle Systems International. Today’s the big day for video capture, with live demonstrations of UAVs (Unmanned Aerial Vehicles) and UGVs (Unmanned … Continue reading “Unmanned Vehicle Makers from Boston, Seattle, and San Diego (Xconomy’s Cities) Showcase Advances at DC Confab”

$2.5M for Akademos

Akademos, a Norwalk, CT-based startup that sells used college textbooks and course materials through online bookstores, has raised $2.5 million in equity funding, according to documents filed August 4 with the Securities and Exhange Commission. Kohlberg Ventures of Portola Valley, CA, provided the funding, according to a press release circulated today, and Kohlberg partner Bill … Continue reading “$2.5M for Akademos”

Connective Orthopaedics Wants to Improve ACL Surgeries, Taps Boston Celtics CEO as Director

Sports fans know how a knee injury ruined the last season for beloved New England Patriots quarterback Tom Brady, and many other athletes before him. Now Connective Orthopaedics , a Waltham, MA, medical devices startup, is quietly researching new products that could potentially improve recoveries for people after they undergo knee surgery. Connective CEO Dean … Continue reading “Connective Orthopaedics Wants to Improve ACL Surgeries, Taps Boston Celtics CEO as Director”

Universal Healthcare Can Save Money, But Innovation Is Key: My Experiences in Japan and the U.S.

I was born and grew up in Japan and have first-hand experience as both a doctor and a patient in my native country—a nation that offers universal health care coverage to its citizens. I have also been a patient, an academic researcher and a biotech entrepreneur here in the United States, my home for the … Continue reading “Universal Healthcare Can Save Money, But Innovation Is Key: My Experiences in Japan and the U.S.”

Amgen’s Personalized Strategy for Cancer Pays Off in Big Colon Cancer Trial

Quite a few scientists at Amgen could breathe sighs of relief over the weekend—that years of their work didn’t go down the drain. The world’s biggest biotech company, which has scientific operations in Seattle and Cambridge, MA, scored a victory in its quest to make cancer drugs tailored to specific genetic subgroups, when the idea … Continue reading “Amgen’s Personalized Strategy for Cancer Pays Off in Big Colon Cancer Trial”

Imaginatik Receives $2,600,000 New Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=eac96fab-f20e-4c64-9aae-1546cbdcdf48&Preview=1 Date 8/10/2009 Company Name Imaginatik Mailing Address 332 Newbury Street 2nd Floor Boston, MA 02115 Company Description Imaginatik is a software and professional services company specializing in Innovation and Idea Management as well as collaborative problem solving. For over ten years we have worked with the most demanding companies in a … Continue reading “Imaginatik Receives $2,600,000 New Financing”

Akademos Garners $2,500,000 Series A Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=e7eb6673-1ce6-40d9-a55e-8d6bc18585e7&Preview=1 Date 8/10/2009 Company Name Akademos Mailing Address 25 Van Zant St Norwalk, CT 06855 Company Description Akademos is a operator of an online textbook exchange. Website http://www.akademos.com/ Transaction Type Venture Equity Transaction Amount $2,500,000 Transaction Round Series A Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor Undisclosed

Akamai And Delve Dig Into Online Video, Cardiorobotics Snags $11.6M for Snake-Like Surgery Robot, Longworth Collects $122M, & More Boston-Area Deals News

New England tech and life sciences firms forged several interesting new partnerships this week. —Apperian, a Boston-based startup developing enterprise-oriented iPhone applications, raised $1 million in a Series A venture round led by CommonAngels of Lexington, MA. —Cambridge, MA-based Akamai (NASDAQ: [[ticker:AKAM]]) teamed with Seattle’s Delve Networks to provide a new online platform for publishing … Continue reading “Akamai And Delve Dig Into Online Video, Cardiorobotics Snags $11.6M for Snake-Like Surgery Robot, Longworth Collects $122M, & More Boston-Area Deals News”

Vertex Drug Could Be “Man on the Moon” for Cystic Fibrosis Therapy, Says Researcher Bonnie Ramsey

Bonnie Ramsey remembers the dark days of treatment for cystic fibrosis. About 30 years ago, when she devoted her career to the research and treatment of this genetic lung disease, children who were diagnosed had a life expectancy of about 17 years. The outlook is much brighter for patients now, as quality of life has … Continue reading “Vertex Drug Could Be “Man on the Moon” for Cystic Fibrosis Therapy, Says Researcher Bonnie Ramsey”

Biotech Startup Acetylon Pharma Catches $7.25M in A Round from Backers Such As New England Patriots Owner

[Correction appended—08/11/09] Acetylon Pharmaceuticals is unveiling its technology today after closing a $7.25 million Series A round of financing to develop novel drugs to treat multiple myeloma and rheumatoid arthritis, according to the company. Many of the startup’s backers have close ties to the Dana-Farber Cancer Institute in Boston—including the company that owns the NFL’s … Continue reading “Biotech Startup Acetylon Pharma Catches $7.25M in A Round from Backers Such As New England Patriots Owner”

Marathon Technologies Corporation Receives $7,000,000 New Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=e1d66bf1-4cb1-4154-8407-8edaeb55a99c&Preview=1 Date 8/7/2009 Company Name Marathon Technologies Corporation 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 … Continue reading “Marathon Technologies Corporation Receives $7,000,000 New Financing”

Evening Roundtable on Funding Options

The first event in The Capital Network’s 2009-2010 Roundtable series. The program aims to present an overview of early stage capital sources from angels to VCs to grants, strategic partnership and debt financing. From the event website: “Topics will include investment criteria, time to closing, investment range, success rates, control features, compliance requirements and the … Continue reading “Evening Roundtable on Funding Options”

Looking Back, Looking Forward: A Conversation with James D. Watson and Edward O. Wilson

Presented by the Harvard Museum of Natural History as a part of the museum’s fall 2009 public lecture series, this event features Nobel Laureate James D. Watson and two-time Pulitzer Prize winner Edward O. Wilson. The pair “will reflect on their storied careers, including their time together at Harvard, and look ahead to the key … Continue reading “Looking Back, Looking Forward: A Conversation with James D. Watson and Edward O. Wilson”

Elan Hits Biogen Idec with Lawsuit to Protect Tysabri Deal with J&J

Relations appear to be increasingly strained between Biogen Idec (NASDAQ:[[ticker:BIIB]]) and the Irish drug company Elan, its partner for the distribution and development of the multiple sclerosis drug natalizumab (Tysabri). Elan said today that it has filed suit against Biogen over the Cambridge, MA-based biotech firm’s objections to Elan’s deal announced last month with affiliates … Continue reading “Elan Hits Biogen Idec with Lawsuit to Protect Tysabri Deal with J&J”

Idenix to Raise $21.2 M in SPO

Idenix Pharmaceuticals (NASDAQ:[[ticker:IDIX]]), a Cambridge, MA-based developer of anti-viral drugs, announced today in a press release that it has priced a secondary public offering of 7.25 million shares at $3.14 each. Idenix expects to raise $21.2 million from the offer, which is expected to close on August 10, after processing fees and other costs. The … Continue reading “Idenix to Raise $21.2 M in SPO”

Alnylam and Tekmira Seek New Ways to Deliver RNAi Drugs Deep in the Body

(Updated: 1:20 pm ET with new commentary from Alnylam’s CEO.) Alnylam Pharmaceuticals and Tekmira Pharmaceuticals announced today that they have teamed up to develop new particles to deliver RNA-interference drugs. Their joint effort aims to identify new ways to overcome the hurdles that the gene-modulating drugs must clear to reach diseased cells deep in the … Continue reading “Alnylam and Tekmira Seek New Ways to Deliver RNAi Drugs Deep in the Body”

Protecting America’s Leadership in Biotech Discovery

Health care reform took a turn for the better when members of key committees in both the U.S. Senate and House of Representatives recently recommended an approval pathway for biosimilars—products that attempt to be similar to an innovator biologic drug—while also preserving the hope for future medical treatments. Specifically, the committees agreed that to preserve … Continue reading “Protecting America’s Leadership in Biotech Discovery”

Cardiorobotics, Developer of Snake Robot Technology, Aims to Alter Cardiac Surgery

The future of heart surgery is in something called a “snake robot,” at least according to the people at Newport, RI-based Cardiorobotics. We decided to check it out in more depth since Cardiorobotics just raised $11.6 million this week to see if it can demonstrate this is truly the next frontier in minimally invasive ways … Continue reading “Cardiorobotics, Developer of Snake Robot Technology, Aims to Alter Cardiac Surgery”

Up to 2,600 Jobs That Won’t Be Coming to MA—Boston-Power CEO “Incredibly Disappointed” to Miss Out on DOE Funds

Boston-Power CEO Christina Lampe-Onnerud says she was “incredibly disappointed” and “frankly a little surprised” when the U.S. Department of Energy today announced $1.5 billion in battery-related grants—and none of it went to her company. The Westborough, MA-based firm had requested $100 million to build a state-of-the-art “green” battery-manufacturing plant in Auburn, MA. “I have this … Continue reading “Up to 2,600 Jobs That Won’t Be Coming to MA—Boston-Power CEO “Incredibly Disappointed” to Miss Out on DOE Funds”

A123Systems Wins $249M Piece of DOE Grants

A123Systems, the Watertown, MA-based developer of advanced lithium-ion battery systems, appears to be figuring hugely into President Obama’s plans to nurture U.S. development and manufacturing of electric-powered vehicles and cutting edge batteries. The company announced today that it has won a $249 million grant from the U.S. Department of Energy and plans to use the … Continue reading “A123Systems Wins $249M Piece of DOE Grants”

Bill Aulet Takes Reins of MIT Entrepreneurship Center from Ken Morse

Bill Aulet, an Xconomist and one of the most energetic advocates for entrepreneurship and innovation in the Boston area, has been appointed acting director of the MIT Entrepreneurship Center, according to an announcement made internally yesterday by MIT Sloan School of Management Dean David Schmittlein. Aulet takes the reins from fellow Xconomist Ken Morse, the … Continue reading “Bill Aulet Takes Reins of MIT Entrepreneurship Center from Ken Morse”

Cash Running Low at Altus Pharma

Waltham, MA-based biotech firm Altus Pharmaceuticals (NASDAQ:[[ticker:ALTU]]) ended the second quarter of 2009 with $8.1 million in cash, enough money to continue operations into September 2009, the company revealed yesterday.  “As a result of our current cash position and in order to continue operating the company, Altus needs to raise additional capital before the end … Continue reading “Cash Running Low at Altus Pharma”

State of New England Venture Quiz: Answers and Commentary

Yesterday, I put out a five-question quiz about the state of venture capital in New England. The questions were culled from data gathered or analyzed by Michael Greeley, chairman of the NEVCA and a general partner with Flybridge Capital Partners, and from the first quarter Venture Insights report by Ernst & Young. Today, we have … Continue reading “State of New England Venture Quiz: Answers and Commentary”

Iron Mountain Reveals $450M Notes Offering

Iron Mountain (NYSE:[[ticker:IRM]]), a Boston-based provider of information storage and protection products, announced today a proposed $450 million notes offering. The notes to be sold in the public offering are due by 2021, and the proceeds will be used in combination with the company’s other funds toward the redemption of certain senior subordinated notes due … Continue reading “Iron Mountain Reveals $450M Notes Offering”

Genzyme’s Mozobil Gets European Approval

Cambridge, MA-based biotech Genzyme (NASDAQ:[[ticker:GENZ]]) reports that the firm has won European marketing approval for plerixafor (Mozobil) for injection in patients with two types of blood cancers—lymphoma and multiple myeloma—who need blood-forming stem cell transplants. The European Commission granted approval of plerixafor to be used in combination with granulocyte-colony stimulating factor (G-CSF) to boost the … Continue reading “Genzyme’s Mozobil Gets European Approval”

Rib-X Antibiotic Passes Clinical Trial, Hopes to Snag Partner

Rib-X Pharmaceuticals, the New Haven, CT-based developer of novel antibiotics, is announcing today that one of its experimental treatments passed a mid-stage clinical trial for patients with a common form of pneumonia. It’s looking to deal with a Big Pharma company with the money and resources to take the drug through the next steps needed … Continue reading “Rib-X Antibiotic Passes Clinical Trial, Hopes to Snag Partner”

Isis, Genzyme Use Antisense to Go Where Many Drugs Fail—The Brain

Doctors can’t do much for patients with a rare, aggressive form of Lou Gehrig’s disease, even though researchers are confident they have pinpointed its genetic cause. But now with help from a clever device that’s supposed to deliver RNA-silencing drugs where they couldn’t go before, Carlsbad, CA-based Isis Pharmaceuticals is hopeful it may have found … Continue reading “Isis, Genzyme Use Antisense to Go Where Many Drugs Fail—The Brain”

Genzyme Faces Lawsuit and Competition, Vertex Gathers More Cash for Telprevir, Cardiorobotics Corrals $11.6M, & More Boston-Area Life Sciences News

Lots to report this week, and lots of it has to do with Genzyme’s manufacturing trials and tribulations. —An investor from Florida filed suit against Genzyme (NASDAQ:[[ticker:GENZ]]), charging that the Cambridge, MA-based biotech behemoth didn’t quickly enough disclose problems at two of its manufacturing plants. —The FDA informed Genzyme that it would re-inspect one of … Continue reading “Genzyme Faces Lawsuit and Competition, Vertex Gathers More Cash for Telprevir, Cardiorobotics Corrals $11.6M, & More Boston-Area Life Sciences News”

Continuity Engine Garners $500,000 New Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=ceb1e0d4-6165-4136-9278-88bcff8c62de&Preview=1 Date 8/5/2009 Company Name Continuity Engine Mailing Address 73 Hannah Lane Monroe, CT 06468 Company Description Software applications exist to help businesses with their big problems; like financial management, sales force automation and inventory. But in most businesses there are those other processes, the information that frequently falls between the important … Continue reading “Continuity Engine Garners $500,000 New Financing Round”

Private-Public Consortium Plans Biofuels Plant

Plankton Power, a Wellfleet, MA-based company developing ways to turn algae into renewable biofuel, announced in a press release today that it will plans on opening a manufacturing plant to produce biofuel from algae on the Massachusetts Military Reservation (MMR) in Bourne, MA. To build the factory, Plankton Power, along with the Regional Technology Development … Continue reading “Private-Public Consortium Plans Biofuels Plant”

Ariad Raises $30.9M

Cambridge, MA-based Ariad Pharmaceuticals (NASDAQ: [[ticker:ARIA]]), the developer of cancer drugs, said today it has raised net proceeds of $30.9 million through a stock offering. The company sold 19 million new shares at $1.75 apiece. CEO Harvey Berger personally agreed to buy $3 million worth of shares.

Athenahealth’s Park Named HHS CTO

Todd Park, co-founder of Watertown, MA-based Athenahealth (NASDAQ: [[ticker:ATHN]]) and San Mateo, CA-based Maria Health, has been tapped to serve as chief technology officer of the U.S. Department of Health and Human Services, Athenahealth announced. To satisfy government requirements, Park will resign this month from his post on the board of Athenahealth, a provider of  … Continue reading “Athenahealth’s Park Named HHS CTO”

AEB Beams Up $14.2M for Energy-Efficient Manufacturing

Wilmington, MA-based Advanced Electron Beams has raised $14.2 million in a Series C round of financing, the company announced today. AEB, whose compact electron beam technology is employed to initiate chemical reactions in various industrial processes, says it will use the money to accelerate sales growth and develop new applications designed to enable energy-efficient manufacturing. … Continue reading “AEB Beams Up $14.2M for Energy-Efficient Manufacturing”

In Bold Move Toward Free Online Fantasy Gaming, Turbine Prepares to Throw Open the Gates to Dungeons & Dragons

Few major media markets are as lopsided as the online swords-and-sorcery game genre. World of Warcraft, owned by the Activision Blizzard division of Vivendi SA, has a population of 12 million players, each paying at least $12.99 per month to go on group quests for virtual treasure and glory. Westwood, MA-based Turbine, the maker of … Continue reading “In Bold Move Toward Free Online Fantasy Gaming, Turbine Prepares to Throw Open the Gates to Dungeons & Dragons”

Quiz: The State of New England Venture

There’s a lot of talk these days—well, always, really—about the state of venture capital in New England. A lot of it centers on comparisons with Silicon Valley VCs, and most of it isn’t good. Some common complaints or accusations: —New England venture capitalists don’t take risks. —They don’t invest in early stage ventures. —They are … Continue reading “Quiz: The State of New England Venture”

Advanced Electron Beams Lands $14,200,000 Series C Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=67b88703-bb39-4d91-9ee9-7f67e16cddec&Preview=1 Date 8/4/2009 Company Name Advanced Electron Beams Mailing Address 301 Ballardvale Street Wilmington, MA 01887 Company Description Advanced Electron Beams has developed one of the world’s most efficient and clean forms of industrial energy: the AEB Emitter. Conceived and developed by company founder Tovi Avnery, the AEB Emitter captures the power … Continue reading “Advanced Electron Beams Lands $14,200,000 Series C Financing Round”

Cardiorobotics Raises $11.6M

Cardiorobotics, a medical device startup company with offices in Newport, RI and Pittsburgh, PA, said today it has raised $11.6 million in a Series A financing.  Investors in the company include Eagle Ventures, the Slater Technology Fund, and the Pittsburgh Life Sciences Greenhouse.  Cardiorobotics is developing what it calls snake robot technology, a minimally invasive … Continue reading “Cardiorobotics Raises $11.6M”

Shire’s Gaucher Drug Passes Key Trial, Putting More Heat on Genzyme During Shortage

Shire, the U.K.-based specialty pharmaceutical company, had some good news this morning for patients with Gaucher’s disease that might not be nearly as good for its competitor, Cambridge, MA-based Genzyme (NASDAQ: [[ticker:GENZ]]). Shire said today that its experimental treatment for Gaucher’s, a rare genetic disorder, passed a key clinical trial in 25 patients. This is … Continue reading “Shire’s Gaucher Drug Passes Key Trial, Putting More Heat on Genzyme During Shortage”

Buddhists May Help Biotechies Solve Big Mental Health Woes, Says Merck Vet Ben Shapiro

One of the big opportunities in biotech over the coming decades may come from neuroscientists who team up with Buddhists. That might sound odd at first, but it’s no joke. This is one of the big ideas on the radar of Bennett Shapiro, the former executive vice president of worldwide basic research at Merck, who … Continue reading “Buddhists May Help Biotechies Solve Big Mental Health Woes, Says Merck Vet Ben Shapiro”

OurStage Act Gaining Partnership Audience Amid Economic Downturn

Chelmsford, MA-based OurStage, which runs monthly contests where bands upload their music and videos to its website to compete for cash and other prizes, is among a number of Web startups in the Boston area that cater to music fans and bands. But the company has also managed to attract a paying corporate audience—providing a … Continue reading “OurStage Act Gaining Partnership Audience Amid Economic Downturn”

iSyndica Receives $350,000 Series A Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=7fa83d32-3b4e-4782-bc14-5b66b4c8905c&Preview=1 Date 8/3/2009 Company Name iSyndica Mailing Address 20A Northwest Blvd Nashua, NH 03063 Company Description iSyndica, a cloud-based digital media distribution platform, simplifies online selling by syndicating, promoting and tracking user content on multiple established channels. iSyndica’s Upload Once – Sell Everywhere(TM) approach helps users increase their revenue while reducing their … Continue reading “iSyndica Receives $350,000 Series A Funding”

FDA to Re-inspect Genzyme Plant

Cambridge, MA-based Genzyme (NASDAQ: [[ticker:GENZ]]) announced today that the FDA will re-inspect the biotech giant’s Allston manufacturing facility, which was closed in June after a viral contaminant was spotted. Genzyme said it had finished sanitizing the plant, which produces two of its best-selling drugs, last week. In today’s press release, the company says the FDA … Continue reading “FDA to Re-inspect Genzyme Plant”

Apperian Raises $1 Million

Boston-based Apperian, founded by Apple veterans as a development shop for enterprise-oriented iPhone applications, has closed a $1 million Series A venture round led by CommonAngels of Lexington, MA, according to an announcement circulated today. “We have been incredibly impressed by the team as well as their customers’ vision and passion for the possibilities on … Continue reading “Apperian Raises $1 Million”

RXi Announces $8.3M Offering

Worcester, MA-based RXi Pharmaceuticals (NASDAQ: [[ticker:RXII]]) said today it is raising $8.3 million in working capital through a stock offering that’s expected to close on August 4. The company, which is developing drugs based on RNA interference for the treatment of conditions such as rheumatoid arthritis, is selling about 2.4 million shares of common stock … Continue reading “RXi Announces $8.3M Offering”

Netezza Pursues Broader Customer Base with Cheaper Data Storage Technology

The reality in the IT world, as one executive at Marlborough, MA-based Netezza (NYSE: [[ticker:NZ]]) puts it, is that “the cost of adding more data to disks is getting closer to zero every day.” That’s not great news if your traditional business is selling high-performing servers at $60,000 per terabyte. So to keep growing, Netezza … Continue reading “Netezza Pursues Broader Customer Base with Cheaper Data Storage Technology”

Shareaholic Becomes the Link-Sharing Tool of Choice—And Builds a Vast Database on Social Media Behavior

Blogging is about active sharing. I’ve known this on an intellectual level for years, but working for Xconomy has made the idea very real to me. My stories reach far more readers if I take a few extra minutes every day to share the items with my e-mail contacts and Twitter followers, and to submit … Continue reading “Shareaholic Becomes the Link-Sharing Tool of Choice—And Builds a Vast Database on Social Media Behavior”