From the event website: “Like its sister event in Silicon Valley, Venture Summit East, copresented by JPMorgan, is a two-day gathering that highlights the significant economic, political and technology trends impacting the global growth investor. Now more than ever, staying abreast of market conditions and innovations is crucial to financial success. Venture Summit East features … Continue reading “AlwaysOn Venture Summit East”
Category: Boston
NABsys Secures $4M First Round to Develop Electronic DNA Sequencing
NABsys, a Providence, RI-based startup focused on advanced DNA sequencing technology, has raised $4 million in a Series A round of financing intended to help it develop a novel approach of using electronics to potentially sequence the human genome quicker and less expensively than available methods. The firm, which was expected to reveal the closing … Continue reading “NABsys Secures $4M First Round to Develop Electronic DNA Sequencing”
Biotech Business Model “Unsustainable” in Financial Crisis, E&Y Says
Biotechnology by its nature goes through booms and busts driven by hope and fear, but now the industry is really in deep trouble. That’s the big headline coming out of this year’s Ernst & Young annual biotech survey, Beyond Borders. Common sense would tell you that in a global economic meltdown, where mainstays like Citigroup … Continue reading “Biotech Business Model “Unsustainable” in Financial Crisis, E&Y Says”
Azuki Systems, Inc. Garners $6,000,000 Series A Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=164d719d-0a55-483e-8a58-b434ffa806e5&Preview=1 Date 5/5/2009 Company Name Azuki Systems, Inc. Mailing Address 43 Nagog Park Acton, MA 01720 Company Description Azuki Systems is an innovative technology provider enabling Interactive Mobile Media Services for content publishers and mobile operators looking to expand and monetize rich media viewership across the 3 billion mobile users worldwide. Developed … Continue reading “Azuki Systems, Inc. Garners $6,000,000 Series A Funding Round”
NABsys Inc Garners $4,000,000 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f140b983-0d41-4ab8-aadd-2ff1ef26d120&Preview=1 Date 5/5/2009 Company Name NABsys Inc Mailing Address 4 Richmond Square Providence, RI 02906 Company Description NABsys aims to make whole-genome DNA sequencing fast, inexpensive, and accurate enough to be used in clinical care. Our approach builds on existing solid-state technologies to create a whole-genome sequencing technology that employs electronic detection, … Continue reading “NABsys Inc Garners $4,000,000 New Funding Round”
Second Group of Clean Energy Council Fellows Unveiled
As we reported in February, the New England Clean Energy Council extensively revised its executive retraining fellowship program in preparation for its second year. Most notably, the council decided to recruit twice as many people as last year. But it also said it would expand its focus beyond former CEOs to people from other levels … Continue reading “Second Group of Clean Energy Council Fellows Unveiled”
Energy Entrepreneurship and Innovation: Today’s Challenges, Tomorrow’s Opportunities
The MIT Enterprise Forum sponsors a fast-paced and “energetic” discussion of energy that will cover: * which sectors are the current hot trends * what areas are the funders most interested in * what hype to believe and what to ignore * what the government’s role is in stimulating growth * what will transpire over … Continue reading “Energy Entrepreneurship and Innovation: Today’s Challenges, Tomorrow’s Opportunities”
Inverness to Raise $200M in Notes Sale
Inverness Medical Innovations (NYSE:[[ticker:IMA]]), a Waltham, MA-based provider of medical diagnostics and health management services, says that it plans to raise $200 million through a public offering of senior subordinated notes due in 2016. The proceeds of the debt offering will be used for general corporate purposes, according to Inverness. The company filed documents with … Continue reading “Inverness to Raise $200M in Notes Sale”
Ironwood Gets $40M From European Partner for Constipation Drug
Ironwood Pharmaceuticals has found a way to sustain its momentum, even in a downturn. The Cambridge, MA-based biotech company is announcing today it has secured $40 million in upfront payments by finding a partner to develop and commercialize its top drug candidate in Europe. Ironwood said it is providing European development and commercial rights for … Continue reading “Ironwood Gets $40M From European Partner for Constipation Drug”
“Thank You For Supporting Capitalism” and Other Investor Tales of Two Cities
Two weeks ago, I was in Atlanta for the annual Angel Capital Association (ACA) conference and, this past week, here in Boston for the annual National Venture Capital Association conference. Depending on whom you asked at both conferences, it was the best of times or the worst of times, most likely depending on whether or … Continue reading ““Thank You For Supporting Capitalism” and Other Investor Tales of Two Cities”
Facebook Co-Founder Settles in at General Catalyst: Out to Learn and Help Young Entrepreneurs
This article is a prototype for a new, still-unnamed weekly column featuring conversations with local innovators, entrepreneurs, and investors. Picture the prospects for innovation if entrepreneurial college students brimming with energy and ideas—as they always are—learned to better vet and shape those ideas into concepts with real business potential, gaining the self-confidence and sense of … Continue reading “Facebook Co-Founder Settles in at General Catalyst: Out to Learn and Help Young Entrepreneurs”
Things I Learned at the National Venture Capital Association Meeting
I am at the annual meeting of the National Venture Capital Association being held in Boston lastthis week. The tone was remarkably upbeat—but only for those firms with either a new fund or who somehow avoided making a lot of overvalued investments during the last few years. There was a lot of rhetoric about how/when/whether … Continue reading “Things I Learned at the National Venture Capital Association Meeting”
Viximo Secures $5,000,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=7d250b9f-5d37-4c5a-99dd-998a04a2ef42&Preview=1 Date 5/4/2009 Company Name Viximo Mailing Address 1 Camp Street Cambridge, MA 02140 Company Description Viximo is the mullet of startups: 15 engineers working hard in the front and a 5 person art party in the back. We love Ruby and/on Rails. We make jokes about object-oriented girlfriends and grill out … Continue reading “Viximo Secures $5,000,000 New Financing”
Massachusetts Life Sciences Innovation Day
This annual event, organized by our friends at the Massachusetts Technology Transfer Center, is one of the best biotech/life sciences gatherings of the year—and Xconomy is pleased to once again help support it. It’s a touch challenge and you couldn’t ask for a more to-the-point theme: “The Survival of the Fittest Life Sciences Companies: How … Continue reading “Massachusetts Life Sciences Innovation Day”
Boston Biotech CEO Conference
For the third year running, Sirtris CEO Christoph Westphal is organizing this event for biotech CEOs. This year’s conference, featuring top area executives and internationally recognized economic and healthcare policy experts, zeroes in on the “future of healthcare in the context of the current economic and political environment.” More details and registration information can be … Continue reading “Boston Biotech CEO Conference”
Ultra Light Startups Boston: Crowdsourcing
Ultra Light Startups is a meetup, new to Boston, that is dedicated to helping technology entrepreneurs “launch startups quicker, cheaper, and more successfully.” The first meeting is a panel discussion focused on crowdsourcing business models and how crowdsourcing will drive the future of business. Our friend Alex Lindahl from College Mogul, in partnership with BU … Continue reading “Ultra Light Startups Boston: Crowdsourcing”
Ray Ozzie on Cloud Strategy and Washington Vs. Massachusetts: Takeaways from Tech Alliance
In football, the expression is “three yards and a cloud of dust.” But at Microsoft, it’s apparently “three screens and a cloud.” That’s according to chief software architect Ray Ozzie, who took part in a keynote conversation with University of Washington computer scientist Ed Lazowska at today’s State of Technology Luncheon, hosted by the Technology … Continue reading “Ray Ozzie on Cloud Strategy and Washington Vs. Massachusetts: Takeaways from Tech Alliance”
Acceleron Pharma Grows Staff, Facilities
Acceleron Pharma, a Cambridge, MA-based developer of biotech drugs designed to effect the growth of cells and tissues to treat diseases, plans to expand its workforce from 114 people now employed at the company to 160 or more workers by the end of 2009, company spokesman Steven Ertel says. The venture-backed biotech firm held an … Continue reading “Acceleron Pharma Grows Staff, Facilities”
Polaris’s McGuire Takes Helm at U.S. Venture Group, Plans to Fight Obama Effort to Hike Taxes on VC Firms
It’s probably fitting that I caught up with Boston venture veteran Terry McGuire this week while he was chatting in a corner of a busy conference room with his West Coast counterpart, Dixon Doll. McGuire, a co-founder and managing general partner of Waltham, MA-based Polaris Venture Partners, introduced Doll to me as the chairman of … Continue reading “Polaris’s McGuire Takes Helm at U.S. Venture Group, Plans to Fight Obama Effort to Hike Taxes on VC Firms”
A Big Thank You to Our Tomorrow’s Biotech Sponsors and Underwriters
We had a jammed-packed, illuminating afternoon yesterday, with more than 200 people streaming into Biogen Idec’s headquarters in Kendall Square for our latest Xconomy Forum: Tomorrow’s Biotech–Innovators and Innovations. Luke posted a writeup earlier today, and will have more next week. But meanwhile, we’d also like to give a big shout out to our sponsors, … Continue reading “A Big Thank You to Our Tomorrow’s Biotech Sponsors and Underwriters”
How to Raise $50M in a Recession: Highlights from the Xconomy Life Sciences Forum
Some of biotech’s most innovative drugs emerged under the worst financial conditions. Two big breakthroughs in the 1990s, Enbrel for rheumatoid arthritis and Rituxan for lymphoma, came from small biotech companies that toiled for years, and survived brushes with extinction, before they made it. This history lesson came up in conversations I had with entrepreneurs … Continue reading “How to Raise $50M in a Recession: Highlights from the Xconomy Life Sciences Forum”
Vermedx Draws $500K in Series A
Vermedx, a Burlington, VT-based provider of information technology tools initially for the diabetes care market, has raised $500,000 in a Series A financing, the company reported this week. FreshTracks Capital, a venture firm based in Shelburne, VT, led the financing, which is intended to provide Vermedx with funds to enhance marketing efforts and continue to … Continue reading “Vermedx Draws $500K in Series A”
Acme Packet Packs Up Covergence, Thermo Buys Biolab, Q1 Was Kind to Mobile, & More Boston-Area Deals News
I’ve got several acquisitions to report this week, and some other interesting New England tech and life sciences deals as well. —Mobile Monday Boston released figures indicating that the first quarter of 2009 was the best in the last five quarters in terms of investment in Boston-area mobile technology companies. Eleven companies raised a total … Continue reading “Acme Packet Packs Up Covergence, Thermo Buys Biolab, Q1 Was Kind to Mobile, & More Boston-Area Deals News”
Vermedx Receives $500,000 Series A Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=69a60bed-9e80-4f64-9c9d-551e26ce6a10&Preview=1 Date 5/1/2009 Company Name Vermedx Mailing Address 371 Pearl St Burlington, VT 05401 Company Description The American health care system is poorly equipped to effectively and cost-efficiently manage chronic disease in general, and diabetes in particular. With 40 million Americans affected by diabetes and related costs exceeding $100 billion annually, established … Continue reading “Vermedx Receives $500,000 Series A Financing”
Acme Buys Covergence for $22.8M
Burlington, MA-based Acme Packet (NASDAQ:[[ticker:APKT]]), which sells hardware and software for managing and securing communications over the Internet, reports today that it has acquired privately owned communications software firm Covergence, of Maynard, MA, for about $22.2 million in Acme common stock and $600,000 in cash to Covergence shareholders and tax withholding payments. Covergence executives Ken … Continue reading “Acme Buys Covergence for $22.8M”
Sycamore to Cut 30 Percent of Staff
Sycamore Networks (NASDAQ:[[ticker:SCMR]]), a Chelmsford, MA-based provider of telecommunications software, plans to reduce its total workforce by 30 percent over the next several fiscal quarters because of a slowdown in the global telecom market, the company reported yesterday. The job cuts, which will impact employees in all fuctional areas and at multiple offices, are expected … Continue reading “Sycamore to Cut 30 Percent of Staff”
Oral RNAi Drug Stops Inflammation in Mice, RXi Says
The big challenge in the field of RNA interference drugs is with how to deliver them effectively through the body. Now scientists at the University of Massachusetts Medical School are reporting today in Nature they have come up with an oral pill form of this gene-silencing approach, which passed an early test in mice. If … Continue reading “Oral RNAi Drug Stops Inflammation in Mice, RXi Says”
Currensee: A Support Network for Traders Risking their Personal Fortunes on the Foreign Exchange Market
If following the stock market’s swoon hasn’t been enough to sink your confidence in capitalism and the financial industry, you may want to try your hand at currency trading on the foreign exchange market. Enormous amounts of money slosh from border to border on the “forex” market, as it’s called—the equivalent of several trillion dollars … Continue reading “Currensee: A Support Network for Traders Risking their Personal Fortunes on the Foreign Exchange Market”
Merck Makes GlycoFi Center of its Biogenerics Strategy, Biogen Says Tysabri Might Promote Remyelination, Stemgent Teams with Fate, & More Boston-Area Life Sciences News
Stem cells and RNAi were the subject of a couple of interesting alliances announced this week. More on those, and the rest of the week’s New England life sciences news, below. —Alkermes (NASDAQ: [[ticker:ALKS]]), a maker of drugs for central nervous system disorders, addiction, and diabetes, signed a lease to move its headquarters from Cambridge, … Continue reading “Merck Makes GlycoFi Center of its Biogenerics Strategy, Biogen Says Tysabri Might Promote Remyelination, Stemgent Teams with Fate, & More Boston-Area Life Sciences News”
Acme Packet Acquires Covergence Inc. for $22,800,000
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=983fceca-dd4c-4ef4-851c-b748105d6106&Preview=1 Date 4/30/2009 Company Name Covergence Inc. Mailing Address One Clock Tower Place, Second Floor Maynard, MA 01754 Company Description Covergence is the leader in scaling, securing and controlling VoIP and other real-time services based on the Session Initiation Protocol (SIP). The Covergence Eclipse SIP session manager is purpose-built to address the … Continue reading “Acme Packet Acquires Covergence Inc. for $22,800,000”
Massachusetts’ $1B Life Sciences Plan Pumps $3.4M in Loans into Startups
At a time when early-stage investment dollars are hard to come by, the state of Massachusetts is giving several startups their first taste of the commonwealth’s plan to invest $1 billion in the life sciences industry over a 10-year period. The Massachusetts Life Sciences Center, the agency in charge of implementing the $1 billion plan, … Continue reading “Massachusetts’ $1B Life Sciences Plan Pumps $3.4M in Loans into Startups”
Annual VC Meeting Comes to Boston, Early Talk Centers on How to End the IPO Drought
Initial public offering activity among venture-backed companies has fallen off a cliff. That’s a top problem facing the venture capital industry right now, and, as can be imagined, the hot topic of discussion in the early hours today at the National Venture Capital Association’s (NVCA) Annual Meeting in Boston. The mood here at the Westin … Continue reading “Annual VC Meeting Comes to Boston, Early Talk Centers on How to End the IPO Drought”
Clean Harbors Buys Eveready for $387M
In a major acquisition that expands its reach across North America, Norwell, MA-based waste management company Clean Harbors (NYSE: [[ticker:CLH]]) said today that it has agreed to acquire Edmonton, Alberta-based Eveready Inc. The Canadian firm provides maintenance, lodging, and exploration services to a range of companies in the oil and gas, chemicals, paper, manufacturing, and … Continue reading “Clean Harbors Buys Eveready for $387M”
$5M for Active Endpoints
Active Endpoints, a Waltham, MA, company that helps enterprises and developers automate business processes, announced today that it has added $5 million to its Series B financing round. Waltham’s North Bridge Venture Partners was the main investor.
Isis, Alnylam to Collaborate on Single-Stranded RNA Drugs; Deal Could Add Up to $31 Million to Isis’ Coffers
Biotech stalwarts in two of Xconomy’s home regions, Isis Pharmaceuticals (NASDAQ: [[ticker:ISIS]]) of Carlsbad, CA, and Alnylam Pharmaceuticals (NASDAQ: [[ticker:ALNY]]) of Cambridge, MA, said today that they’ve agreed to share techniques devised by Isis for using single-stranded RNA interference (ssRNAi) to silence genes in the body that cause disease. Under the agreement, Alnylam will owe … Continue reading “Isis, Alnylam to Collaborate on Single-Stranded RNA Drugs; Deal Could Add Up to $31 Million to Isis’ Coffers”
Sverica Raises $265M for PE Fund
Boston- and San Francisco-based Sverica International, a private equity fund that invests in service-oriented businesses and light manufacturing companies, said today it surpassed its $250 million target for its third fund, closing the fund at $265 million last November. The company said its current areas of investment interest include wind energy, enterprise software, and healthcare … Continue reading “Sverica Raises $265M for PE Fund”
Stylefeeder’s Execs on How to Do A Lot with A Little—Part 2
Yesterday we published Part 1 of our interview with Philip Jacob, founder of Cambridge, MA-based StyleFeeder, and Shergul Arshad, the startup’s vice president of business development. The two men talked about the remarkable growth of the personalized shopping site, which has taken in $3.5 million in venture capital since 2007 and is already profitable. In … Continue reading “Stylefeeder’s Execs on How to Do A Lot with A Little—Part 2”
GI Dynamics Adds Device to Gut Liner to Increase Weight Loss
GI Dynamics made a lot of noise late last year about the ability of its gut-lining device to help patients struggling with weight problems and Type 2 diabetes to drop pounds while reducing their blood sugar. The device, called the EndoBarrier, is a 2-foot-long flexible sleeve that is placed in the small intestine. Recently the … Continue reading “GI Dynamics Adds Device to Gut Liner to Increase Weight Loss”
Active Endpoints, Inc. Garners $5,000,000 Series B Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=238b67ac-23f4-4b23-b350-746dfa0c8ba5&Preview=1 Date 4/29/2009 Company Name Active Endpoints, Inc. Mailing Address 230 2nd Avenue, 2nd Floor Waltham, MA 02451 Company Description Active Endpoints is the leading developer of Visual Orchestration Systems. VOS empowers line of business project teams to create applications using services and industry standards, making their businesses more agile and effective. … Continue reading “Active Endpoints, Inc. Garners $5,000,000 Series B Financing Round”
Tysabri May Promote Healing Around Nerves, Study Says
Cambridge, MA-based Biogen Idec (NASDAQ: [[ticker:BIIB]]) and its partner, Elan, catch a lot of heat because their fastest-growing drug for multiple sclerosis is associated with a rare, potentially fatal brain infection called PML. But today they are pushing back a bit with a study that suggests the drug may provide an important benefit to balance … Continue reading “Tysabri May Promote Healing Around Nerves, Study Says”
Kiva’s Robots Serve Smaller Companies at Andover’s Quiet Logistics
Visiting a warehouse equipped with Kiva Systems‘ robotic fulfillment technology is a spooky experience: the little orange robots scoot about in busy silence, toting shelves full of products to human pickers who move the right products into boxes for shipping. There are no grinding, beeping forklifts, and not even much conversation, since there are so … Continue reading “Kiva’s Robots Serve Smaller Companies at Andover’s Quiet Logistics”
RI Entrepreneurship Center Launched
The Rhode Island Center for Innovation and Entrepreneurship, which stakeholders have billed as a “community center for entrepreneurs,” was launched today in Providence to help entrepreneurs in the state find the resources they need to start new companies in the technology, life sciences, design, and other segments of the so-called knowledge economy, according to a … Continue reading “RI Entrepreneurship Center Launched”
SnapMyLife Joins Blackberry App World
Needham, MA-based SnapMyLife, which runs a photo-sharing community for mobile phone users, said today that it has released two new applications for RIM Blackberry smartphones. The apps, available from the Blackberry App World (launched by RIM this month), include a straightforward camera app that lets users take photos and upload them to SnapMyLife’s mobile site, … Continue reading “SnapMyLife Joins Blackberry App World”
Boston TestCase I @ betahouse
Webheads, free pizza+beer and a bit of testing. Attendees will mix socializing with hands-on time testing and giving feedback to the participating startups. Josh Porter, owner of Bokardo Design and author of Designing for the Social Web, will be conducting a Lightning Usability/Comprehension test with the presenters, followed by a presentation of test results and … Continue reading “Boston TestCase I @ betahouse”
Thermo to Buy Biolab for $120M
Thermo Fisher Scientific (NYSE:[[ticker:TMO]]), a Waltham, MA-based provider of scientific research products and services, says that it has struck a deal to buy Biolab, of Auckland, New Zealand, for about $120 million. The acquisition of Biolab—a supplier of analytical instruments, lab equipment, and research materials—expands Thermo’s market presence in New Zealand, Australia, and the South … Continue reading “Thermo to Buy Biolab for $120M”
StyleFeeder’s Execs on How to Do A Lot With A Little
StyleFeeder is that rarest of animals: a profitable Web 2.0 company, and on the East Coast to boot. It may also have one of the largest ratios of users to employees of any Web business: more than a million registered members, served by a grand total of only six full-time employees. I met all six … Continue reading “StyleFeeder’s Execs on How to Do A Lot With A Little”
Microsoft Aims to Help Scientists Move Past Excel, Make Sense of Gene Data Overload
Biologists are living in an era of information overload, and Microsoft says it’s making an effort to help them cut through the noise. The Redmond, WA-based software firm is introducing a new program today called Amalga Life Sciences, designed to help lab scientists make sense of the vast reams of genomic data piling up from … Continue reading “Microsoft Aims to Help Scientists Move Past Excel, Make Sense of Gene Data Overload”
Good Data Corporation Receives $2,500,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f06c3635-8913-4796-b025-2ae11db90c69&Preview=1 Date 4/28/2009 Company Name Good Data Corporation Mailing Address One Broadway, 14th Floor Cambridge, MA 02142 Company Description Good Data Corporation was founded with the mission to provide a platform for collaborative analytics. We believe that sharing and teamwork allows our users to move past isolated reports and arrive at the … Continue reading “Good Data Corporation Receives $2,500,000 New Financing Round”
Venture Funds Did Badly in 2008—But Maybe Not That Badly
We all know that just about every type of financial performance index for the last year showed a sharp turn downward. This definitely held true for venture capital. The National Venture Capital Association and Thomson Reuters today released Q4 2008 venture capital performance numbers showing that VC funds as a whole—early, balanced, and later stage … Continue reading “Venture Funds Did Badly in 2008—But Maybe Not That Badly”
Obama’s Science and Technology Advisory Council Includes Holdren, Molina, Mundie
President Obama announced today the members of the President’s Council of Advisors on Science and Technology, in remarks made at the National Academy of Sciences in Washington DC. Some members were announced previously, but this is the first time the full council was presented publicly. Obama cited the distinguished council’s “diversity of experience and views,” … Continue reading “Obama’s Science and Technology Advisory Council Includes Holdren, Molina, Mundie”