The Rappaport Institute at the Kennedy School of Government hosts a discussion around House Bill 1794, which would outlaw non-compete clauses in employment agreements in Massachusetts. From the event description: “Massachusetts, like many states, allows firms in knowledge-intensive fields to limit their employees’ ability to take jobs with other firms. These ‘non-compete’ restrictions help firms … Continue reading “Using Non-Compete Laws to Spur Economic Development in Massachusetts”
Category: Boston
Boston’s @biz Twitter Fit
I’ve been watching the Twitter dialog between @hybernaut (aka Brian Del Vecchio, founding member of the Beta House collaborative in Cambridge) and a slew of Twitter users from Hubspot about a “Tweetup” being held today in honor of Biz Stone. More widely known by his Twitter username, @biz, Stone is Twitter’s co-founder and creative director, … Continue reading “Boston’s @biz Twitter Fit”
RunKeeper’s Mad Dash to the Marathon Finish: Of Foot Injuries, Viral Video, and Dressing Up as an iPhone
If you’re out watching the Boston Marathon on Monday and you see a giant iPhone limp past, chances are it’s Jason Jacobs inside. Jacobs is the hyperkinetic founder and CEO of Boston-based FitnessKeeper, which makes a highly popular run-tracking application for the Apple iPhone 3G called RunKeeper. (He was also a panelist at Xconomy’s recent … Continue reading “RunKeeper’s Mad Dash to the Marathon Finish: Of Foot Injuries, Viral Video, and Dressing Up as an iPhone”
A123Systems Counts to $69M, Sun Catalytix Out to Grow Seed From Polaris, Synageva Gets $30M, & More Boston-Area Deals News
Many different corners of New England’s innovation empire were heard from this week. —Return investors put $20 million in Branford, CT-based Marinus Pharmaceuticals, which plans to used the money to further development of ganaxolone, its drug for seizures and other disorders. Participants in the deal included Canaan Partners, Domain Associates, Foundation Medical Partners, and Sofinnova … Continue reading “A123Systems Counts to $69M, Sun Catalytix Out to Grow Seed From Polaris, Synageva Gets $30M, & More Boston-Area Deals News”
Biogen Idec Tysabri Sales Fall Shy of Street Expectations
Biogen Idec’s fortunes rise and fall on largely on the performance of sales of natalizumab (Tysabri), and the latest Tysabri sales trends are disappointing investors. Biogen, which has headquarters in Cambridge, MA, and significant operations in San Diego, said today that the multiple sclerosis drug generated $227 million in worldwide sales during the first quarter. … Continue reading “Biogen Idec Tysabri Sales Fall Shy of Street Expectations”
Amgen Shows Off Cancer Drug Pipeline Before Scientific Meeting
Amgen became the world’s biggest biotech company because of its ability to treat the side effects of cancer chemotherapy. But Amgen’s dream over the past decade has been to get into the game of targeted cancer drugs that actually kill tumors, and over the next few years it will find out if it will be … Continue reading “Amgen Shows Off Cancer Drug Pipeline Before Scientific Meeting”
DataXu Raises $6M for Web Ad Targeting
According to a regulatory filing cited today by PE Hub, Cambridge, MA-based startup DataXu (pronounced DataZoo) has raised $6 million in Series A funding to commercialize a new Web ad targeting technology. The investors include Atlas Venture and Flybridge Capital Partners. At one time DataXu was headed by former MIT Technology Review publisher Bruce Journey, … Continue reading “DataXu Raises $6M for Web Ad Targeting”
FDA Allows High-Yield Tysabri Production
Cambridge, MA-based biotech firm Biogen Idec (NASDAQ:[[ticker:BIIB]]) says that the FDA has approved a high-yield process for making multiple sclerosis drug natalizumab (Tysabri). This process for making natalizumab, an antibody drug that Biogen co-markets with Irish drug company Elan, was also approved by the European Medicines Agency in December 2008. Biogen plans to use the … Continue reading “FDA Allows High-Yield Tysabri Production”
YouRenew Hopes Message of Green Simplicity Will Help It Outrun Gazelle in Gadget-Recycling Market
The Web has drastically lowered the barriers to starting a business. But that benefit has a flip side: established Web businesses are more vulnerable to competitors who can suddenly come up from behind. That’s the story that may play out this year in the electronics recycling market. Last year we ran a couple of stories … Continue reading “YouRenew Hopes Message of Green Simplicity Will Help It Outrun Gazelle in Gadget-Recycling Market”
Polaris Venture Partners Backing MIT Chemist’s “Solar Fuel” Startup
(Update: this story was updated at 10:15 a.m. today with additional financial information on Sun Catalytix.) Yes, that’s solar fuel. MIT chemistry professor Daniel Nocera has been widely lauded for developing a breakthrough technology that could harness the energy of the sun to provide a clean source of fuel. Xconomy has now learned that Polaris … Continue reading “Polaris Venture Partners Backing MIT Chemist’s “Solar Fuel” Startup”
Infinity Pharma Lead Cancer Drug Trial Halted, Ends in Failure
Infinity Pharmaceuticals’ (NASDAQ:[[ticker:INFI]]) lead cancer drug has crashed and burned in a late-stage clinical trial for treating relapsed forms of malignant stomach tumors, after interim results showed that more patients were dying when taking the drug than those who weren’t on the drug, the company reports. The decision to halt the Phase III “RING” trial … Continue reading “Infinity Pharma Lead Cancer Drug Trial Halted, Ends in Failure”
Mascoma to Cut Staff, Leave Boston
Boston-based Mascoma, a startup developing techniques for making ethanol from high-cellulose feedstock such as wood chips, said yesterday it will consolidate its operations in a new office building and R&D facility in Lebanon, NH, near the Dartmouth College location where the company was founded, and where the majority of its workers are already employed. The … Continue reading “Mascoma to Cut Staff, Leave Boston”
Synageva BioPharma Nabs $30M
Synageva BioPharma, a Waltham, MA-based biotech firm with research and manufacturing operations in Athens, GA, says that it has closed a $30 million private equity financing and expects to raise more money in the weeks ahead. Baker Brothers Investments, a heathcare investment firm, led the financing, which included contributions from investment funds Tullis Dickerson and … Continue reading “Synageva BioPharma Nabs $30M”
From Ultracapacitors to Soybeans to Sludge: University Teams Pitch Local VCs
Three local venture firms put on what amounted to a university startup fair at the Charles Hotel in Harvard Square yesterday. I went hoping for a peek at a few of the companies that could be pulling down Series A rounds a year or two from now. Now in its second year, the invitation-only University … Continue reading “From Ultracapacitors to Soybeans to Sludge: University Teams Pitch Local VCs”
Biogen and Icahn Duel Again, Marinus Gets $20M, Vigilance Urged on Patent Reform, & More Boston-Area Life Sciences News
It was a relatively quiet week for New England’s life sciences firms, but with earnings reports from several key players due at the end of this week I’m guessing the next roundup will be a doozy. —Cambridge, MA-based Cerulean Pharma named Oliver Fetzer, a former executive at Lexington, MA-based Cubist Pharmaceuticals (NASDAQ:CBST), as its new … Continue reading “Biogen and Icahn Duel Again, Marinus Gets $20M, Vigilance Urged on Patent Reform, & More Boston-Area Life Sciences News”
Ensemble Nails Deal with Bristol-Myers Squibb to Discover New Drugs
Ensemble Discovery has secured an important partnership with Bristol-Myers Squibb to keep its engine of new drugs humming along in a downturn. The Cambridge, MA-based company will get a $5 million upfront payment, $7.5 million to pay part of its research expenses over the next two years, and may get milestone payments worth $29.5 million … Continue reading “Ensemble Nails Deal with Bristol-Myers Squibb to Discover New Drugs”
Dataxu Receives $6,000,000 Series A Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=3677d3b1-dc47-489f-b798-4cb45ecf2a61&Preview=1 Date 4/15/2009 Company Name Dataxu Mailing Address 222 3rd Street Cambridge, MA 02142 Company Description DataXu is a cutting-edge Cambridge, Massachusetts-based company formed by MIT alums and professionals. Our product will cause the next revolution in Internet advertising by disrupting how advertising is bought and sold on the Internet. Our proprietary … Continue reading “Dataxu Receives $6,000,000 Series A Financing”
Synageva BioPharma Corp Garners $30,000,000 Series F Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=095d8b2c-b123-4f1f-80f2-b5236e50f898&Preview=1 Date 4/15/2009 Company Name Synageva BioPharma Corp Mailing Address 60 Hickory Drive Waltham, MA 02451 Company Description Synageva BioPharma’s ultimate goal is to improve patient lives by providing access to breakthrough novel, next generation (i.e. significantly improved), and certain follow on protein therapeutics. Synageva’s proprietary platform technologies, including SEPTM, provide a … Continue reading “Synageva BioPharma Corp Garners $30,000,000 Series F Financing Round”
A123Systems Gets $100M in Tax Breaks to Expand in Michigan
“Go Michigan!” We didn’t hear them say it, but the team at A123Systems has likely become big fans of the state of Michigan. The Michigan Economic Development Corporation has granted the Watertown, MA-based developer of advanced battery systems $100 million in tax credits to support its plans to open an R&D center and manufacturing plants … Continue reading “A123Systems Gets $100M in Tax Breaks to Expand in Michigan”
Mass Innovation Nights
From organizer Bobbie Carlton: “Mass Innovation Nights are a series of events designed to harness the power of social media to showcase Massachusetts-based innovation. Every month we throw a live launch party (registration starts at 6:00 pm and the new products are on display 6:30 pm to 8:30 pm) at the Charles River Museum of … Continue reading “Mass Innovation Nights”
Media in Transition: Stone and Papyrus, Storage and Transmission
A conference at MIT focusing on the challenges of preserving words and images in cyberspace. From the conference organizers: “In just a few years, we will be able to transmit the entire printed contents of the Library of Congress in five seconds. The implications of this are profound, and will be the subject of the … Continue reading “Media in Transition: Stone and Papyrus, Storage and Transmission”
American Well Brings Service to MN
American Well, a Boston-based provider of a network that enables patients to meet with doctors over a multimedia Web interface, says that Blue Cross and Blue Shield of Minnesota has signed on to offer American Well’s services to the health plan’s employees and their family members. This is American Well’s first customer in the continental … Continue reading “American Well Brings Service to MN”
Riding Dendreon’s Coattails, Antigenics and Oncothyreon Shares Soar
Who will be the next Dendreon? That’s the question investors are asking today, as Dendreon’s good news from this morning is sending a ripple effect through shares of other companies that aspire to develop treatments that stimulate the immune system to fight cancer. Lexington, MA-based Antigenics saw its shares rocket 63 percent in mid-day trading, … Continue reading “Riding Dendreon’s Coattails, Antigenics and Oncothyreon Shares Soar”
Renewable Energy Business Network Green Chemistry Tour
In place of its usual monthly happy hour, the Renewable Energy Business Network-Boston will hold its next social gathering at the Wilmington, MA-based Warner Babcock Institute for Green Chemistry, which is dedicated to the development of non-toxic, environmentally benign and sustainable technological solutions for society. “The good folks at the Institute have kindly offered to … Continue reading “Renewable Energy Business Network Green Chemistry Tour”
Reva Systems Raises $5M, New CEO Named
Reva Systems, a Chelmsford, MA-based provider of RFID infrastructure software, says it has raised $5 million from previous investors and named Bruce Berger its new CEO. Berger is a former chief executive of North Grafton, MA, optical fiber provider Verrillon, and he takes over for acting Reva Systems CEO Ashley Stephenson. Stephenson will remain chairman … Continue reading “Reva Systems Raises $5M, New CEO Named”
Ahmed Joins Charles River Ventures
Charles River Ventures, a venture firm with offices in Waltham, MA, and Menlo Park, CA, has named veteran technology executive Hassan Ahmed a senior advisor at the firm, according to a press release. Ahmed—who is the former CEO of Sonus Networks (NASDAQ:[[ticker:SONS]]), a Westford, MA-based provider of software for the telecommunications industry—will work at the … Continue reading “Ahmed Joins Charles River Ventures”
EMC Updates Storage for the Cloud
Hopkinton, MA-based EMC (NYSE: [[ticker:EMC]]) announced today that its 19-year-old line of Symmetrix storage servers, the company’s flagship product, has been overhauled for the era of virtualization, in which users expect to be able to yoke hundreds or thousand of machines together and manage them as if they were a single resource. The new Symmetrix … Continue reading “EMC Updates Storage for the Cloud”
Rematch Time: Carl Icahn and Biogen Idec Square Off Again
It’s rematch time in the battle for control of Biogen Idec. With the Cambridge, MA-based company’s annual shareholder meeting likely coming sometime in the next couple months, the incumbent board nominees are being challenged by four rivals put forth by billionaire activist investor Carl Icahn. A media leak has fueled speculation of a potential buyout … Continue reading “Rematch Time: Carl Icahn and Biogen Idec Square Off Again”
Risk and Reward: GoCrossCampus Morphs Into Casual Games Site for Teams
If you’re a startup that organizes giant games of Risk on college campuses, it doesn’t matter how many thousands of dorm residents you can recruit to participate—there’s still a fundamental flaw your business model. It’s that the game and the semester eventually end, and everyone goes home. The antidote? Keep people involved year-round by moving … Continue reading “Risk and Reward: GoCrossCampus Morphs Into Casual Games Site for Teams”
Reva Systems Corporation Secures $5,000,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=04e9a23e-ffc0-49d6-ad7b-ea086952ed17&Preview=1 Date 4/14/2009 Company Name Reva Systems Corporation Mailing Address 100 Apollo Drive Chelmsford, MA 01824 Company Description Reva Systems develops RFID Network Infrastructure products for the emerging radio-frequency identification (RFID) market. Website http://www.revasystems.com Transaction Type Venture Equity Transaction Amount $5,000,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. M&A … Continue reading “Reva Systems Corporation Secures $5,000,000 New Financing Round”
Independent Game Conference East
From the event website: “IGC East is for developers of console, Flash and casual games who want a leg up on the competition and for the publishers who want to see the hottest games in development by the rising stars of the industry…The IGC Game Demo Night is the place to show your game off … Continue reading “Independent Game Conference East”
MIT Sloan CIO Symposium
The MIT Sloan CIO Symposium is an annual one-day conference, held on the MIT campus, where CIOs and other senior business executives from around the world gather to explore how leading-edge academic research and innovative technologies can help address the practical challenges faced in today’s changing economy. Panel discussions will feature groups of CEOs, academic … Continue reading “MIT Sloan CIO Symposium”
Mobile Monday Boston with Governor Patrick
Join Mobile Monday Boston for a special event sponsored by Wilmer Hale and Apperian with featured speaker Massachusetts Governor Deval Patrick. A diverse set of mobile companies, including Apperian, eInk, Geocade, Locale, Mobile Ed, Olin College, TripChill, Viximo, and mobiScaler, will deliver rapid-fire, 5 minute presentations on their business models, apps, and products. The event … Continue reading “Mobile Monday Boston with Governor Patrick”
ScanScout Banks $5.1M in Third Round
ScanScout, a Cambridge, MA-based provider of a network that puts ads into online video, has raised $5.1 million of an $8.1 million third round of financing, according to a PE Hub report, which cites a regulatory filing. Prior to the financing, the firm had raised $7 million from investors such as General Catalyst Partners, First … Continue reading “ScanScout Banks $5.1M in Third Round”
A123Systems Expanding Battery Tech Production and R&D with Fresh $69M Financing
A123Systems says it has reeled in $69 million from GE and other investors to ramp up production of its advanced lithium-ion batteries and enhance development of its smart grid energy storage technology. The $15 million that GE (NYSE:[[ticker:GE]]) contributed to the round—via its GE Energy Financial Services and GE Capital units—ups the company’s stake in … Continue reading “A123Systems Expanding Battery Tech Production and R&D with Fresh $69M Financing”
Marinus Pharma Finds $20M in 2nd Round
Marinus Pharmaceuticals, a Branford, CT-based developer of drugs for neurological and psychiatric disorders, says it has closed a $20 million Series B round of financing from existing investors including Canaan Partners, Domain Associates, Foundation Medical Partners, and Sofinnova Ventures. The funding is intended to further develop the firm’s lead drug candidate, ganaxolone, as an additional … Continue reading “Marinus Pharma Finds $20M in 2nd Round”
Going Green, Gradually: Catching Up with Local Motors and Its Crowd-Sourced Car
The Rally Fighter is half dune buggy, half muscle car. Designed for off-road racing in the deserts of the Southwest, it looks a lot like any ride you might see on the cover of Road & Track. But what’s different about the Rally Fighter is that it’s a product of the Web 2.0 revolution: it … Continue reading “Going Green, Gradually: Catching Up with Local Motors and Its Crowd-Sourced Car”
“Danger!” — The Need for Active Watch of Patent Reform
“Danger, Will Robinson!” These immortal words uttered by the Robot in the 1960s television series “Lost in Space” are now part of our pop culture lexicon when warning of an impending, and sometimes unseen, threat. It’s too bad the Robot is just a fictional character, because as we’ve seen with recent economic and legislative happenings, … Continue reading ““Danger!” — The Need for Active Watch of Patent Reform”
From Movie Sets to Operating Rooms, Chamberlain Group Turns Special Effects Biz into Healthcare Winner
Before computer animation took hold of the movie industry, spaceships, exploding cities, dislodged body parts, and other scene-stealing special effects were crafted by highly skilled model makers. But after decades spent in entertainment, Lisa and Eric Chamberlain have taken their skills in the entertainment and special effects businesses and applied them to provide realistic anatomical … Continue reading “From Movie Sets to Operating Rooms, Chamberlain Group Turns Special Effects Biz into Healthcare Winner”
A123Systems Receives $69,000,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=cd04d8b1-210b-4588-a0b2-07456afc2717&Preview=1 Date 4/13/2009 Company Name A123Systems Mailing Address 321 Arsenal Street Watertown, MA 02472 Company Description A123Systems is the developer of a new generation of Lithium-ion batteries that deliver previously unattainable power levels, safety and life to a wide range of applications. Website http://www.a123systems.com/ Transaction Type Venture Equity Transaction Amount $69,000,000 Transaction … Continue reading “A123Systems Receives $69,000,000 New Financing Round”
The Digital Combine: The Next Generation Employer and Talent Showcase
MITX sponsors a new kind of job fair. From the official event announcement: “We all have former colleagues, friends, and family members who are currently searching for work. It’s not easy. Finding a job in today’s economic times is like competing for a spot in the NFL draft. You go through a series of drills, … Continue reading “The Digital Combine: The Next Generation Employer and Talent Showcase”
Boston Can Survive, Even Thrive, Without Today’s Globe
It’s difficult to see how the Boston Globe can last long in its current form. Even if its owner, the New York Times Co., extracts the entire $20 million in concessions that it demanded this week from the paper’s unions, the paper would still lose $65 million this year, according to the company’s own figures. … Continue reading “Boston Can Survive, Even Thrive, Without Today’s Globe”
A123Systems Gives Chrysler a Charge, Segway Scoots into GM Deal, Basho Banks $2M, & More Boston-Area Deals News
It’s only been a few days since last I rounded up the deals news from New England’s tech and life sciences firms, but there are still a few transactions worth mentioning. —Millennium, the Cambridge, MA-based subsidiary of Japan’s Takeda Pharmaceutical Company, paid $4 million up front to Seattle Genetics (NASDAQ: [[ticker:SGEN]]) for a worldwide license … Continue reading “A123Systems Gives Chrysler a Charge, Segway Scoots into GM Deal, Basho Banks $2M, & More Boston-Area Deals News”
At CHI Meeting, Microsoft Turns Computing Interfaces on Their Head, and Side, and Back
I spent a couple of days this week at CHI, the big annual meeting of the Association for Computing Machinery’s Special Interest Group on Computer-Human Interaction (ACM SIGCHI). It was the first time since 1994 that the conference—the main international gathering for scholars and practitioners in user interface design—has come to Boston. But it wasn’t … Continue reading “At CHI Meeting, Microsoft Turns Computing Interfaces on Their Head, and Side, and Back”
Aveo Pharmaceuticals, Inc. Lands $30,000,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=db97d636-18b0-4be0-beeb-81445441669a&Preview=1 Date 4/10/2009 Company Name Aveo Pharmaceuticals, Inc. Mailing Address 75 Sidney Street Cambridge, MA 02139 Company Description AVEO is a biopharmaceutical company focused on the discovery and development of novel cancer therapeutics. AVEO is developing a pipeline of targeted therapies which address major unmet medical needs in the field of oncology. … Continue reading “Aveo Pharmaceuticals, Inc. Lands $30,000,000 New Financing”
Marinus Pharmaceuticals Secures $20,000,000 Series B Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=cbeb0c98-b936-4c7f-b504-cdd626200ba3&Preview=1 Date 4/10/2009 Company Name Marinus Pharmaceuticals Mailing Address 21 Business Park Drive Branford, CT 06405 Company Description Marinus is a specialty pharmaceutical company dedicated to the reformulation, development, and commercialization of novel drugs to treat serious neurological, psychiatric, and pain disorders. Marinus is located in Branford, Connecticut and its investors include … Continue reading “Marinus Pharmaceuticals Secures $20,000,000 Series B Funding Round”
Basho Nabs $2M in Second Round
Basho Technologies, a Cambridge, MA-based provider of enterprise sales software, says it has completed an initial $2 million close of a Series B round of preferred stock. The startup plans to use the funds to begin sales of its Open Basho software, which is designed to make the sales process more efficient and effective in … Continue reading “Basho Nabs $2M in Second Round”
First Wind Proposes Maine Turbines
First Wind of Newton, MA, said today that it has filed a permit application with Maine’s Department of Environmental Protection to build a 34-turbine wind farm in Aroostook County in the state’s northern tip. The 1.5-megawatt turbines, which would be placed near the town of Oakfield, would generate power for up to 20,000 homes, according … Continue reading “First Wind Proposes Maine Turbines”
CIMIT Innovation Grand Rounds: The New Playbook for Healthcare Innovation
In today’s economy, with most biotechs facing a dearth of cash and traditional venture funding harder to find, health care innovators face formidable challenges when it comes to getting novel therapies into the clinic. This CIMIT (Center for Integration of Medicine & Innovative Technology) forum for entrepreneurs and physicians at Massachusetts General Hospital should shed … Continue reading “CIMIT Innovation Grand Rounds: The New Playbook for Healthcare Innovation”
Nano-Terra Envisions Moneymaking Nanotech Ideas for Batteries, Kitty Litter, & More
Nano-Terra is sticking to its original strategy: Let other companies spend the money on manufacturing and marketing products that arise from its inventions, while making its money from licensing its nanotech creations and pulling in royalties on product sales. Now the Cambridge, MA-based startup is considering spinning off separate businesses to pursue more applications, including … Continue reading “Nano-Terra Envisions Moneymaking Nanotech Ideas for Batteries, Kitty Litter, & More”