Category: Boston

Dr. Sue Skates Where the Puck is Heading in Life Sciences–Waltham

The woman who runs the 10-year, $1 billion initiative to spur life sciences in Massachusetts has set up her office in Waltham, MA, about a 30-minute drive from one of the world’s leading and most famous clusters of biotech— Kendall Square in Cambridge. And she’s out there for a reason. This was one of the … Continue reading “Dr. Sue Skates Where the Puck is Heading in Life Sciences–Waltham”

Behind the Scenes of the MIT $100K: Leveraging 20 Years of History in 6 Months

Running the MIT $100K Entrepreneurship Competition is a lot like running a startup. We spend most of our time raising money. We are underpaid (in fact, we aren’t paid). Day or night, weekday or weekend, the job never really stops. There is very little formal authority (meaning our team has no real reason to listen … Continue reading “Behind the Scenes of the MIT $100K: Leveraging 20 Years of History in 6 Months”

GreenBytes Secures $7,500,000 New Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f25f7ac4-1332-4656-92d0-fb821cc5d646&Preview=1 Date 5/19/2009 Company Name GreenBytes Mailing Address Hopkinton Industrial Park, 15 Gray Lane Ashway, RI 02804 Company Description GreenBytes is the most efficient data storage system on the market today. An ultra high-efficiency NAS. Website http://www.green-bytes.com/ Transaction Type Venture Equity Transaction Amount $7,500,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were … Continue reading “GreenBytes Secures $7,500,000 New Funding Round”

Elixir Pharmaceuticals Obtains $12,000,000 New Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=01059ba1-bae0-45f6-a9f6-045a50e4b3e5&Preview=1 Date 5/19/2009 Company Name Elixir Pharmaceuticals Mailing Address 12 Emily Street Cambridge, MA 02139 Company Description Elixir Pharmaceuticals is a genomics-based drug discovery company developing a new category of pharmaceuticals that treat and/or prevent the broad spectrum of diseases that accompany aging. Website http://www.elixirpharm.com Transaction Type Venture Equity Transaction Amount $12,000,000 … Continue reading “Elixir Pharmaceuticals Obtains $12,000,000 New Financing”

Qteros Garners New Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=3d02c086-7d13-45fc-833d-64e5c23c0846&Preview=1 Date 5/19/2009 Company Name Qteros Mailing Address 100 Venture Way Hadley, MA 01035 Company Description Qteros began in 1996 with a walk near the Quabbin Reservoir in Western Massachusetts. University of Massachusetts microbiologist Dr. Susan Leschine and her lab assistant, Tom Warnick, were looking for a microbe that breaks down plant … Continue reading “Qteros Garners New Funding”

Knome Offers Thriftier Gene Sequencing

Knome, a personal genomics startups located in Cambridge, MA, announced today the launch of its newest product, a partial genome sequencing package called KnomeSELECT. The service will cost $24,500 for individuals, but is discounted to $19,500 per person for couples and family groups. The firm’s more comprehensive whole-genome sequencing service, KnomeCOMPLETE, costs $99,000. Rather than … Continue reading “Knome Offers Thriftier Gene Sequencing”

FDA OKs Risperdal Consta for Bipolar

Alkermes, the Cambridge, MA-based developer of technology to make longer-lasting drugs, said today the FDA has approved risperidone (Risperdal Consta) as a treatment for bipolar disorder. The medicine, first approved in 2003 as a long-acting drug for schizophrenia, is marketed by Johnson & Johnson using technology from Alkermes (NASDAQ: [[ticker:ALKS]]). Before today’s approval, the medicine … Continue reading “FDA OKs Risperdal Consta for Bipolar”

NKT Therapeutics Aims For Severe Asthma, Targeting Natural Killer T Cells

Even though many venture firms are scrimping, there’s hope for biotech startups in search of capital to fund bold new areas of biological research. NKT Therapeutics, which revealed its $8 million first-round financing in March, has rallied venture capitalists to back its efforts to develop drugs that target lesser-known immune cells that potentially play key … Continue reading “NKT Therapeutics Aims For Severe Asthma, Targeting Natural Killer T Cells”

With Depeche Mode iPhone App, Cambridge’s iZotope Boosts the Mobile Drumbeat

Last week I learned about a local music software company, iZotope, whose existence somehow escaped me back in 2007 when I was writing my story “Boston: The Hidden Hub of Music and Technology.” But the Cambridge, MA-based company has been making professional audio production software and digital signal processing hardware since 2001, and has gained … Continue reading “With Depeche Mode iPhone App, Cambridge’s iZotope Boosts the Mobile Drumbeat”

Back to Work and Flipping Cheeseburgers—A $100K Winner’s Tale

Well, here I am again, as promised. Yes, winning the $100K is exactly as you imagine it: limo rides, overflowing bottles of champagne, invitations to smoke-filled back rooms, and high-stakes poker games. Very high-stakes poker games. And you know, you really can’t fit that big check into an ATM. But I’ll talk about that at … Continue reading “Back to Work and Flipping Cheeseburgers—A $100K Winner’s Tale”

Avila Therapeutics, Inc. Garners $5,000,000 New Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f8f5d454-4281-45ec-bfac-843c5a44b026&Preview=1 Date 5/18/2009 Company Name Avila Therapeutics, Inc. Mailing Address 100 Beaver Street Waltham, MA 02453 Company Description Avila Therapeutics, Inc., is a venture-backed company focused on the discovery and development of novel small molecule therapeutics to address significant unmet clinical needs with an initial focus on cancer and viral diseases. Website … Continue reading “Avila Therapeutics, Inc. Garners $5,000,000 New Funding Round”

Icahn’s Plan to Split Up Biogen Idec Would “Destroy Shareholder Value,” Company Says

Biogen Idec delivered a second counterpunch today against Carl Icahn—this time against the billionaire investor’s proposal to split the company into two parts. The company said Icahn’s idea would add administrative costs, make Biogen less attractive to a potential buyer, and “destroy shareholder value.” The Cambridge, MA-based biotech company (NASDAQ: [[ticker:BIIB]]) offered its latest salvo … Continue reading “Icahn’s Plan to Split Up Biogen Idec Would “Destroy Shareholder Value,” Company Says”

GSK biotech subsidiary Tempero Pharma launched in the Boston area

London-based drug giant GlaxoSmithKline has quietly spun off a biotech startup, Tempero Pharmaceuticals, in the life sciences haven of Cambridge, MA, to develop drugs to treat diseases in which the immune system goes awry and attacks healthy tissues, Xconomy has learned. Tempero was incorporated in March, according to state of Delaware corporate records. The word … Continue reading “GSK biotech subsidiary Tempero Pharma launched in the Boston area”

ASCO Sneak Peek: ImmunoGen, Biogen Idec, Infinity Show Glimpses of Cancer Drug Data

Cancer is the one of the most intense fields of R&D in the pharmaceutical business, and if you need convincing, take a look at the enormous heaps of data that started appearing online last night. The annual cancer drug data frenzy known as the American Society of Clinical Oncology (ASCO) got its official kickoff of … Continue reading “ASCO Sneak Peek: ImmunoGen, Biogen Idec, Infinity Show Glimpses of Cancer Drug Data”

Avila Therapeutics Hires First CEO Katrine Bosley, Adds $5M from Existing Investors

[[Update: information about a company financing was added to this story at 10 a.m today.]] At some point in the life of a biotech startup, the firm typically needs to strike a deal with a drug company or another deep-pocketed outfit to stay in business. Avila Therapeutics is no exception, and the young Waltham, MA-based … Continue reading “Avila Therapeutics Hires First CEO Katrine Bosley, Adds $5M from Existing Investors”

Oracle Forges Plan To Acquire Virtual Iron, MA Gets $25M For Wind Turbine Testing Facility, NBC’s Peacock Equity Fund Crows Over EveryZing, & More Boston-Area Deals News

The climate in Boston this week was neither steamy nor stormy. Likewise, the week in deals was a little bit hot and a little bit cold —with not much on either extreme. —Oracle flexed its muscle in Massachusetts, acquiring Lowell, MA-based Virtual Iron for an undisclosed sum. Virtual Iron specializes in virtualization technology, which allows … Continue reading “Oracle Forges Plan To Acquire Virtual Iron, MA Gets $25M For Wind Turbine Testing Facility, NBC’s Peacock Equity Fund Crows Over EveryZing, & More Boston-Area Deals News”

Biogen Idec Pipeline Strong, Tysabri Coming Back; Icahn Would “Weaken” Board, Company Says

Biogen Idec shot back at Carl Icahn today in a regulatory filing. The company disputed the ways in which the billionaire challenged virtually every aspect of its business, and disagreed with Icahn’s fundamental conclusion that it is suffering from “failed leadership.” Cambridge, MA-based Biogen (NASDAQ: [[ticker:BIIB]]) says its R&D pipeline is strong, physicians are regaining … Continue reading “Biogen Idec Pipeline Strong, Tysabri Coming Back; Icahn Would “Weaken” Board, Company Says”

OmniGuide Reports $1.8M Financing

OmniGuide, a Cambridge, MA-based provider of laser-based medical scalpels, has raised $1.8 million in an equity financing, according to an SEC filing. The filing does not specify who invested in the round. Xconomy last covered the company in May 2008 when the firm disclosed a $25 million fifth-round financing. Its investors include company chairman Ray … Continue reading “OmniGuide Reports $1.8M Financing”

SaaS Forum: Competing in a SaaS World—Overcoming the Challenges to Deliver Successful Sales and Marketing Results

To be successful in SaaS, providers and traditional software companies must re-think conventional sales and marketing strategies. In this half-day program, industry leaders and experts who have successfully created sales and marketing strategies discuss different approaches for customer acquisition and retention. Registration and program details.

The View From All Sides: What It Takes and Means to Secure Seed Funding in Today’s Economy

The landscape is changing for seed funding, and not just because of the recession. These days successful technology startups can show meaningful progress on less funding, and new approaches to early-stage funding have emerged, creating more fuel for entrepreneurs and innovators. This MIT Enterprise Forum event features a panel of entrepreneurs, angel investors, and VCs … Continue reading “The View From All Sides: What It Takes and Means to Secure Seed Funding in Today’s Economy”

What’s Next in Tech: Exploring the Growth Opportunities of 2009 and Beyond

This evening event is of particular interest to anyone starting a business or looking for their next job in technology. A networking reception will be followed by two discussion segments—one with venture capitalists, one with entrepreneurs—followed by plenty of time for Q&A. “What’s Next in Tech” is hosted by Future Forward Events in association with … Continue reading “What’s Next in Tech: Exploring the Growth Opportunities of 2009 and Beyond”

Nuance Debuts Scan-to-Kindle Feature

OmniPage 17, the latest version of a Windows document version program from Burlington, MA-based Nuance Communications (NASDAQ: [[ticker:NUAN]]), has the ability to upload scanned documents directly to Amazon Kindle 2 reading devices, Nuance announced today. The new feature is part of an overall push by Nuance to help offices go paperless. The Kindle conversion process … Continue reading “Nuance Debuts Scan-to-Kindle Feature”

No Recession in WeeWorld: Teen Socializing Drives Growing Virtual Goods Revenues

Dinner party conversations with Celia Francis don’t go down the usual paths. “When people ask ‘What do you do?” she says, “I have to say ‘I sell animated ferrets.’” Francis is the Harvard- and MIT-educated CEO of WeeWorld, a transatlantic virtual goods company with its U.S. headquarters in Concord, MA, and its European headquarters in … Continue reading “No Recession in WeeWorld: Teen Socializing Drives Growing Virtual Goods Revenues”

Arsenal Medical CTO Jeff Carbeck on His Secretive Startup, Attractions of Clean Energy Sector

Jeff Carbeck walked away from a promising career in academia four years ago to co-found Arsenal Medical, to apply advances in materials science to the healthcare market. Carbeck and I talked last week about his work at Watertown, MA-based Arsenal (originally named WMR Biomedical), which Xconomy reported last week raised $8.2 million in a third … Continue reading “Arsenal Medical CTO Jeff Carbeck on His Secretive Startup, Attractions of Clean Energy Sector”

OmniGuide, Inc. Obtains $1,800,000 New Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b6115829-7c75-498c-b466-14c1580c5e8d&Preview=1 Date 5/14/2009 Company Name OmniGuide, Inc. Mailing Address One Kendall Square, Building 100, 3rd Floor Cambridge, MA 02139 Company Description OmniGuide, Inc. develops and manufactures disposable cutting tools for minimally invasive surgery, based on a unique fiber technology for guiding high power laser light. Website http://www.omni-guide.com Transaction Type Venture Equity Transaction … Continue reading “OmniGuide, Inc. Obtains $1,800,000 New Funding Round”

Ksplice Wins MIT $100K—Software Updates With No Reboots

It’s not every day that someone posts a guest column for Xconomy in the morning and wins $100,000 in the evening. But that’s exactly what happened with Ksplice, which is working on technology that lets computer users install software updates while applications are running, avoiding a system restart and the lost productivity that can come … Continue reading “Ksplice Wins MIT $100K—Software Updates With No Reboots”

GreenFuel Runs Out of Fuel, Shuts Down; Algae-to-Biofuel Technology for Sale

[Updated 7:30 p.m., 5/13/09, with input from former GreenFuel interim CEO Bob Metcalfe, see below.] Cambridge, MA-based GreenFuel Technologies, which struggled for eight years to commercialize an industrial-scale process for growing algae that could be turned into biofuels or food, is closing down for lack of financing and selling off its technologies. Greentech Media broke … Continue reading “GreenFuel Runs Out of Fuel, Shuts Down; Algae-to-Biofuel Technology for Sale”

Oracle Scoops Up Virtual Iron, Bolsters Virtualization Capabilities

Database giant Oracle (NASDAQ: [[ticker:ORCL]]) has scaled up its presence in Massachusetts—and placed itself in more direct competition with Hopkinton, MA-based EMC’s VMware subsidiary—by announcing its intention to acquire Virtual Iron, a maker of data center virtualization software in Lowell, MA. Redwood Shores, CA-based Oracle already has its own virtualization technology, called Oracle VM. The … Continue reading “Oracle Scoops Up Virtual Iron, Bolsters Virtualization Capabilities”

Oracle to Buy Virtual Iron

Oracle (NASDAQ:[[ticker:ORCL]]), the Redwood Shores, CA-based technology giant, says this morning that it has agreed to buy Virtual Iron Software, headquartered in Lowell, MA, to boost its presence in the market for server virtualization software. The transaction is expected to close this summer, according to Oracle, which did not disclose financial terms of the deal. … Continue reading “Oracle to Buy Virtual Iron”

Artisan Raises $9.4M in Debt Round

Artisan Pharma, a Waltham, MA-based developer of a biotech drug for a blood-clotting condition in sepsis patients, has raised $9.4 million of an $11.8 million round of debt financing, the firm reported yesterday in an SEC filing. The filing did not specify the investors in the debt round, which may also include the sale of … Continue reading “Artisan Raises $9.4M in Debt Round”

Molecular Insight Names Peters CEO

Molecular Insight Pharmaceuticals (NASDAQ:[[ticker:MIPI]]) reports today it has a new president and CEO, Daniel Peters, who was previously president of the diagnostics division of GE Healthcare. Peters takes over the chief executive role from Molecular co-founder John Babich, who is staying with the Cambridge, MA-based firm as chief scientific officer in charge of research and … Continue reading “Molecular Insight Names Peters CEO”

Genzyme Targets Growth, Taligen Takes $26M, Icahn Lays Into Biogen Idec Management, & More Boston-Area Life Sciences News

A good number of New England life sciences firms took home new venture money this past week—in a couple of cases, in fairly large bags. —Luke gave an overview of how Cambridge, MA-based biotech powerhouse Genzyme (NASDAQ: [[ticker:GENZ]]) plans to keep its revenues growing and its pipeline moving. Potentially important drugs for the company in … Continue reading “Genzyme Targets Growth, Taligen Takes $26M, Icahn Lays Into Biogen Idec Management, & More Boston-Area Life Sciences News”

Husk Insulation Wins $200,000 MIT Clean Energy Prize: Building Better Refrigerators from Rice Husks

In a ceremony attended by the state secretary of energy and environmental affairs, the director of energy initiatives at Google, and the CEO of NSTAR, the state’s largest utility, the $200,000 MIT Clean Energy Prize was awarded yesterday to a Michigan startup, Husk Insulation, whose innovations could help make refrigerators far more efficient—and roomier to … Continue reading “Husk Insulation Wins $200,000 MIT Clean Energy Prize: Building Better Refrigerators from Rice Husks”

Inside View of the MIT 100K Competition—How One Team Got to Tonight’s Finals

We were checking in at the front desk for one of the $100K events, and the security guard asked me, “So, the 100K—the ‘K’ is for kilometers? It’s some sort of race?” No, it’s not a race, it’s MIT’s entrepreneurship competition. We’re the Web/IT track winner, and tonight we’ll be competing for the $100K grand … Continue reading “Inside View of the MIT 100K Competition—How One Team Got to Tonight’s Finals”

uTest Site Revamped for Collaboration

Southborough, MA-based uTest, a Web-based service that helps software companies crowdsource their quality assurance processes to freelance testers, relaunched its website today with an emphasis on collaboration tools for its community of more than 16,000 testers. A new forum area allows testers to create personal profiles, exchange private messages, and share their best practices, while … Continue reading “uTest Site Revamped for Collaboration”

Follica Gets New CEO, Gears Up for More (Hair and Business) Growth

Follica, the Boston-area startup out to bring a scientific approach to helping hair-loss sufferers re-grow their locks, is preparing for some new growth of its own. The firm, run since its late 2006 inception by founding CEO Daphne Zohar of Boston’s PureTech Ventures, announced today the hiring of a new president and CEO, William Ju, … Continue reading “Follica Gets New CEO, Gears Up for More (Hair and Business) Growth”

Oracle Corp. Acquires Virtual Iron Software for Undisclosed Sum

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=991bc55d-8d80-4225-b5c0-e1a29b0d1a79&Preview=1 Date 5/13/2009 Company Name Virtual Iron Software Mailing Address 900 Chelmsford Street Lowell, MA 01851 Company Description Virtual Iron provides, Xen-based, enterprise-class software solutions for creating and managing virtual infrastructure. Organizations use Virtual Iron for consolidation, rapid provisioning, business continuity, workload management and policy-based automation. Website http://www.virtualiron.com Transaction Type M&A Transaction … Continue reading “Oracle Corp. Acquires Virtual Iron Software for Undisclosed Sum”

MITX User Experience Series: Building the Case for UX

Have all aspects of your interaction and experience with our event listings been satsfactory? Granted, this is not too complicated a user experience, but if you deal with more demanding challenges in UX, or if you’re a UX evangelist, your experience at this MITX event may prove worthwhile. Event details and registration information can be … Continue reading “MITX User Experience Series: Building the Case for UX”

Taligen Raises $26M For Inflammation Drugs

Taligen Therapeutics, the Cambridge, MA-based developer of drugs for inflammatory diseases, has raised $26 million out of a $65 million financing round, according to a regulatory filing. The investors in the company weren’t named in the document, although Nick Galakatos of Clarus Ventures, Ed Hurwitz of Alta Partners, and Timothy Mills of Sanderling Ventures are … Continue reading “Taligen Raises $26M For Inflammation Drugs”

$910K Debt Deal for MetaCarta

Documents filed today with the Securities and Exchange Commission indicate that Cambridge, MA-based MetaCarta, whose software plots Web news items on digital maps by extracting metadata about locations mentioned in the items, has raised $910,000 in convertible debt. Sevin Rosen Funds, FA Technology, and Hunt Ventures were listed as participants in the financing. MetaCarta raised … Continue reading “$910K Debt Deal for MetaCarta”

Green VC Danielson Leaves General Catalyst for DOE Post

Dave Danielson, founder of the MIT Energy Club and Boston’s greenest VC, has left his position as senior associate at General Catalyst Partners for the U.S. Department of Energy. As an automated e-mail response explains: “I will be making a transition from my role as a member of the General Catalyst Partners’ Cleantech investment team … Continue reading “Green VC Danielson Leaves General Catalyst for DOE Post”

Boston VCs Grok Social Media—So Can We Please Not Tell That Facebook Story Anymore?

The X Factor, which debuted last week without yet having a name, is a mostly weekly column featuring conversations with local innovators, entrepreneurs, and investors. It’s a legendary story of doom here in Boston (folks around here kind of like gloomy stories)—how the local VCs passed on this idea called Facebook, the kids from Harvard … Continue reading “Boston VCs Grok Social Media—So Can We Please Not Tell That Facebook Story Anymore?”

Epix Seeks Strategic Alternatives

Epix Pharmaceuticals, the Lexington, MA-based developer of an Alzheimer’s drug, said it is seeking strategic alternatives, including a sale or merger, to fund its operations. The company (NASDAQ: [[ticker:EPIX]]) has hired JP Morgan and Canaccord Adams to assist the board in evaluating its options, according to this AP report. The company needs a cash infusion … Continue reading “Epix Seeks Strategic Alternatives”

iloverewards.com Is Rewarded

Toronto-based iloverewards.com, which runs an online product catalog that offers corporate employees rewards as performance incentives, has closed a Series B venture funding round led by GrandBanks Capital of Newton Center, MA. There are conflicting reports about the amount of the round: a press release from iloverewards.com put it at $6.9 million, while a GrandBanks … Continue reading “iloverewards.com Is Rewarded”

Geezeo Goes White Label, Partners with Stanford Credit Union

Hartford, CT-based Geezeo—which was one of the first New England Internet startups Xconomy ever profiled, back in August 2007—announced late Monday that it’s found the first customer for its new institutional service, a personal financial management suite it unveiled in February. Geezeo has focused up to now on providing financial management tools directly to consumers … Continue reading “Geezeo Goes White Label, Partners with Stanford Credit Union”

Google, Microsoft May Help Usher in Personalized Medicine Wave, Says George Church

The genomic era hasn’t yet produced a revolution in personalized medicine, but it’s coming, says Harvard University geneticist George Church. Major tech companies like Google and Microsoft are making it their business to help people keep track of their health data—side-by-side with their genome sequence data (if they’ve got it). The adoption of these technologies … Continue reading “Google, Microsoft May Help Usher in Personalized Medicine Wave, Says George Church”

Wistia Retargets Video Sharing and Measurement Technology for Small Business

I last wrote about Lexington, MA-based Wistia in September 2008, which, I’m sure you’ll remember, was approximately when the economy went all to hell. CEO Chris Savage said it was clear by October that Wistia’s original business model—licensing its Web-based video-sharing platform to large enterprises—was insufficient. So this week the startup is launching a reconfigured … Continue reading “Wistia Retargets Video Sharing and Measurement Technology for Small Business”