Category: Boston

Big Drop in 1Q M&A Deals for VC-Backed Companies, IPO Drought Continues

We know there’s been a serious decline in exits for venture capitalists and their portfolio companies for the past year or more. Now two separate studies—one from Dow Jones VentureSource and the other done by the National Venture Capital Association (NVCA) and Thomson Reuters—show just how abysmal M&A and IPO activities were in the first … Continue reading “Big Drop in 1Q M&A Deals for VC-Backed Companies, IPO Drought Continues”

Tizra Makes Stimulus Bill Searchable

Until now, the only way to read the 400-plus-page American Recovery and Reinvestment Act of 2009 (otherwise known as the Stimulus Bill) has been to download a 13-megabyte PDF version or scroll through messy, unpaginated HTML versions. But now Tizra, the Providence, RI online publishing company we profiled in February, has used its platform to … Continue reading “Tizra Makes Stimulus Bill Searchable”

The Climate for Early-Stage Life Sciences Startups—And 12 Companies Seeking Weather-Proof Investors

Life goes on, even in the face of great tragedy. Startup life also goes on, even in the face of great economic decline. That was one message that came through loud and clear yesterday at the Early-Stage Life Sciences Technology Conference, an annual event (this was the fifth) put on by the Massachusetts Technology Transfer … Continue reading “The Climate for Early-Stage Life Sciences Startups—And 12 Companies Seeking Weather-Proof Investors”

Genzyme Shrinks Gene Therapy Effort, Expands Oncology; BioVex Raises $40M For Cancer-Fighting Viruses; Biogen Looks to Future of MS Franchise; & More Boston-Area Life Sciences News

If you ever wanted to get the big picture on some of New England’s biggest biotechs, this was certainly a good week to do so. —Just six months after securing its $20 million first round of financing, Cambridge, MA-based Alnara Pharmaceuticals struck a deal putting a late-stage drug candidate into its pipeline. Alnara licensed the … Continue reading “Genzyme Shrinks Gene Therapy Effort, Expands Oncology; BioVex Raises $40M For Cancer-Fighting Viruses; Biogen Looks to Future of MS Franchise; & More Boston-Area Life Sciences News”

iPhone Apps and the AppStore—How to Succeed on this Revolutionary Platform

This morning event is being organized by MITX. Members free, non-members $25. From the event description: “Steve Jobs said: “There has never been anything like the App Store.”  The iPhone provides an amazingly rich platform, and the App Store creates the most open and accessible mobile application space ever.  The technology for iPhone Apps is … Continue reading “iPhone Apps and the AppStore—How to Succeed on this Revolutionary Platform”

Genzyme Acquires Three Cancer Drugs From Bayer, Enters Seattle Biotech Hub

[[Updated: 4:50 pm Eastern time]] Genzyme, the world’s largest maker of drugs for rare genetic diseases, is making a big move into broader diseases like cancer and multiple sclerosis to continue fuelling its growth. The Cambridge, MA-based biotech company said today it is acquiring three drugs from Germany-based Bayer AG, including one that gives Genzyme … Continue reading “Genzyme Acquires Three Cancer Drugs From Bayer, Enters Seattle Biotech Hub”

Rich Miner, New Manager of Google Ventures, Calls New England “A Fertile Ecosystem…A Great Place to Be”

It’s official: Google has launched a venture investing wing called Google Ventures, and Rich Miner, who is based at the company’s Cambridge, MA, office and is the former leader of its Android mobile operating system project, is one of the managing partners. A sharp-eyed reporter for Reuters broke the news about Miner’s new job on … Continue reading “Rich Miner, New Manager of Google Ventures, Calls New England “A Fertile Ecosystem…A Great Place to Be””

SpaceClaim Claims $7M

Concord, MA-based SpaceClaim, a maker of software for 3D direct modeling, announced today that it has raised $7 million in a deal led jointly by return investors including Borealis Ventures, Kodiak Venture Partners, Needham Capital Partners, and North Bridge Venture Partners. On the market since 2007 and now in their fourth release, SpaceClaim’s products are … Continue reading “SpaceClaim Claims $7M”

Sepracor Asks FDA to Okay Epilepsy Drug

Marlborough, MA-based Sepracor (NASDAQ: [[ticker:SEPR]]), known mainly for its sleep aid Lunesta, said today that it has applied to the U.S. Food and Drug Administration for approval of a compound called eslicarbazepine acetate as an adjunct to other therapies in adult epilepsy patients. Sepracor says the sodium-channel blocker—developed by Portuguese pharmaceutical company BIAL-Portela and licensed … Continue reading “Sepracor Asks FDA to Okay Epilepsy Drug”

The Xconomy Mobile Innovation Showcase

On April 7, Xconomy will hold its first-ever Forum on the Future of Mobile Innovation in New England, an afternoon-long event designed to highlight the technologies and ideas that will lead the local mobile industry through—and past—the economic downturn. CEOs, engineers, analysts, and investors from more than 15 local companies and venture firms will be … Continue reading “The Xconomy Mobile Innovation Showcase”

Genzyme Gene Therapy Fails To Help People with Leg Disease Walk Longer

Score another one in the loss column for gene therapy. Cambridge, MA-based Genzyme said yesterday at a medical meeting that its gene therapy for people with peripheral artery disease failed in a clinical trial to help them regain some mobility. The trial—one of the largest in the field of gene therapy—enrolled 289 patients who were … Continue reading “Genzyme Gene Therapy Fails To Help People with Leg Disease Walk Longer”

Semilab Snaps Up Two Firms

Semilab, a Natick, MA-based maker of metrology tools for characterizing materials in semiconductor manufacturing and R&D, announced today that it has purchased two smaller cousins: Advanced Metrology Systems, also of Natick, and Billerica, MA-based QC Solutions. AMS makes technology for studying 3D structures, while QC Solutions makes non-contact systems for testing the electrical properties of … Continue reading “Semilab Snaps Up Two Firms”

Convergence: The Life Sciences Leaders Forum

Now in its sixth year, Convergence is a unique opportunity for life sciences executives to meet with investors, understand how policy and industry dynamics are changing, get closer to prospective partners, and learn about new opportunities. Speakers this year hail from the worlds of hospitals and payors, academia and big pharma, venture capital and start-ups … Continue reading “Convergence: The Life Sciences Leaders Forum”

Aushon Secures $6.5M Financing to Help Support Acquisition

Billerica, MA-based Aushon BioSystems, which provides microarray tools and services for biomarker analysis, has secured $6.5 million in new financing, the company announced. North Bridge Venture Partners was the sole source of the financing, which was used partly to support the Aushon’s recent acquisition of Thermo Fisher Scientific’s SearchLight Protein Array business and technology, the … Continue reading “Aushon Secures $6.5M Financing to Help Support Acquisition”

InStream Media Closes First Round

Waltham, MA-based inStream Media today announced it has closed its Series A funding round. Lexington, MA-based CommonAngels and Waltham MA-based Stage 1 Ventures led the round, the value of which was not disclosed. InStream’s “1to1 Ads” system allows brick-and-mortar retailers to deliver behaviorally targeted ads and discount offers to shoppers, in the form of customized … Continue reading “InStream Media Closes First Round”

Akamai Edges Into the Cloud, Surveys State of the Internet

Akamai Technologies, the Web content and applications delivery company based in Cambridge, MA, today revealed more details of it partnership with OpSource, a Santa Clara, CA, provider of computing infrastructure for Software-as-a-Service companies. It’s a deal that could help Akamai (NASDAQ:[[ticker:AKAM]]) move closer to the center of the cloud-computing trend, by helping to ensure that … Continue reading “Akamai Edges Into the Cloud, Surveys State of the Internet”

Charles River Ventures Closes $320M Fund

Money may be scarce–but to many investors, economic downturns are the best time to invest in startup companies. Valuations are lower, and conditions ripe for disruption. Perhaps reflecting that outlook, Charles River Ventures, based in Waltham, MA, and Menlo Park, CA, announced today that it has closed its 14th fund, the $320 million CRP XIV. … Continue reading “Charles River Ventures Closes $320M Fund”

BioVex Raises $40M for Cancer-Fighting Virus

BioVex, a cancer drug developer based in Woburn, MA, reported some impressive clinical trial results that we covered last June. Now the company has raised $40 million in venture capital to see if it’s good enough to bring this drug candidate to the marketplace. The investment round was led by Amsterdam-based Forbion Capital Partners, which … Continue reading “BioVex Raises $40M for Cancer-Fighting Virus”

In Advance of New Massachusetts Privacy Law, Liquid Machines Offers Enterprise-Class Security Software to Mom-and-Pop Businesses

The Commonwealth of Massachusetts Office of Consumer Affairs and Business Regulation (OCABR) has taken pity on recession-dazed business owners in the state, putting off the deadline for meeting new data encryption regulations from January 1, 2009, to May 1, 2009, and then postponing enforcement again until January 1, 2010. Sooner or later, though, all Massachusetts … Continue reading “In Advance of New Massachusetts Privacy Law, Liquid Machines Offers Enterprise-Class Security Software to Mom-and-Pop Businesses”

TargAnox Launches with $5.1M Series A Round, Targeting Oxidative Stress to Treat Diseases

In this ugly economy, it takes a special recipe of compelling science and willing investors to launch a new biotech startup. Newly hatched biotech TargAnox, which is focused on developing drugs to curb a sometimes disease-related biochemical condition called oxidative stress, has stirred that recipe together in recent months and closed a $5.1 million Series … Continue reading “TargAnox Launches with $5.1M Series A Round, Targeting Oxidative Stress to Treat Diseases”

TargAnox Garners $5,100,000 Series A Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=e889f026-4af2-4ce4-89c4-673e6fc06873&Preview=1 Date 3/30/2009 Company Name TargAnox Mailing Address 101 Huntington Avenue, 4th Floor Boston, MA 02199 Company Description TargAnox is focused on developing drugs to curb a sometimes disease-related biochemical condition called oxidative stress. Website Undisclosed Transaction Type Venture Equity Transaction Amount $5,100,000 Transaction Round Series A Proceeds Purposes Proceeds purposes were … Continue reading “TargAnox Garners $5,100,000 Series A Funding Round”

BioVex, Inc. Lands $40,000,000 Series F Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=ea819afd-0fdf-4a8c-8cad-e73ca7d6bb6a&Preview=1 Date 3/30/2009 Company Name BioVex, Inc. Mailing Address 34 Commerce Way Woburn, MA 01801 Company Description The Company is developing a new class of potent biologics for the treatment of cancer and prevention of infectious disease. Website http://www.biovex.com Transaction Type Venture Equity Transaction Amount $40,000,000 Transaction Round Series F Proceeds Purposes … Continue reading “BioVex, Inc. Lands $40,000,000 Series F Financing Round”

Dyax Hit With FDA Drug Delay

Cambridge, MA-based Dyax (NASDAQ: [[ticker:DYAX]]) said today that its lead drug in development, DX-88, failed to win FDA approval on schedule. The company said it needs to answer more questions about the chemistry, manufacturing, and controls section of its application, and for a risk evaluation and mitigation strategy. The company doesn’t need to do more … Continue reading “Dyax Hit With FDA Drug Delay”

Flybridge Backs FirstBest, Six Startups Blast off With LaunchCapital’s Help, Visible Measures Gains a $10M View, & More Boston-Area Deals News

We’ve got lots of venture financings to report this week. New England’s software firms are particularly well represented. —Medical test maker Claros Diagnostics of Woburn, MA, reportedly completed a $4 million second round of financing. Oxford Bioscience Partners, Bioventures Investors, Accelerated Technologies Partners, and Commons Capital have all previously backed the startup. —Flybridge Capital Partners … Continue reading “Flybridge Backs FirstBest, Six Startups Blast off With LaunchCapital’s Help, Visible Measures Gains a $10M View, & More Boston-Area Deals News”

Tweets from the Edge: The Ins and Outs (and Ups and Downs) of Twitter

If you already know all about Twitter—if you spent mid-March in Austin tweeting away with your pals at South by Southwest, if you can explain the differences between Twhirl and Twitterrific and Tweetdeck, and if you’ve already mastered thinking in 140-character fragments—this week’s column is not for you. It’s for all the other people, the … Continue reading “Tweets from the Edge: The Ins and Outs (and Ups and Downs) of Twitter”

Biogen Idec, Extending Life of its Top-Selling Drug, Eyes Longer-Lasting Shot for MS

Biogen Idec is the world’s biggest maker of drugs for multiple sclerosis, and it wants to keep things that way. But every drug that’s born eventually dies, and the last remaining patents on Biogen’s biggest-selling drug, interferon-beta1a (Avonex), run out in 2011 and 2013. To protect this $2.2 billion-a-year MS franchise—which generates more than half … Continue reading “Biogen Idec, Extending Life of its Top-Selling Drug, Eyes Longer-Lasting Shot for MS”

Dimdim: A Clear Future for Multimedia Web Conferencing for the Masses

One sign that Xconomy is in the right business is that there are many more companies building innovative products in our home cities than we have time to cover. Unfortunately, though, our decisions about which companies to cover sometimes come down to little more than intuitive guesses. Back in December 2007, I interviewed the founders … Continue reading “Dimdim: A Clear Future for Multimedia Web Conferencing for the Masses”

Healthcare Summit: Technology Driving the Patient-Centered Revolution

What is Patient Centered Care?  Who is driving it, and why? What technologies will help or hinder it? And who will pay for it? The national debate on healthcare reform is gaining momentum, and patient centered care—organized around the patient as a “whole person” rather than putting institutional bureaucracies at the center of the healthcare … Continue reading “Healthcare Summit: Technology Driving the Patient-Centered Revolution”

Building the Smart Grid: Barriers and Opportunities

Building a Smart Grid may be better than being off the grid—Smart Grid technologies are expected to result in significant reduction in electricity consumption and greenhouse gas emissions.  According to Lux research, the Smart Grid market is expected to reach $65 billion in 2013. This interactive program brings together leading experts to look at the … Continue reading “Building the Smart Grid: Barriers and Opportunities”

Tech Tuesday: Gadgets & Gathering

Tech Tuesdays are moving to Microsoft’s brand-new R&D space at One Memorial Drive (the venue for Xconomy’s Mobile Innovation Forum). Come by to hang with fellow geeks and enjoy ad hoc the show-and-tell—LCD projector and WiFi are available. This event is free. Tech Tuesday registration.

LaunchCapital Announces Investments in Six Startups

Massachusetts venture investors have long taken heat for the perception, at least, that they shy away from very early-stage (read, risky but potentially game-changing) investments—and many folks have pointed to a relative dearth of venture firms that specialize in seed-stage plays. In recent months, though, there seems to be a definite uptick in interest in … Continue reading “LaunchCapital Announces Investments in Six Startups”

Millennium, After Takeda Takeover, Shows Off Cancer Drug Pipeline

About 11 months ago, Cambridge, MA-based Millennium Pharmaceuticals agreed to be acquired by Tokyo-based Takeda Pharmaceuticals for $8.8 billion. We’ve already written some about how this deal presented Millennium’s CEO, Deborah Dunsire, some special challenges in terms of language barriers, cultural barriers, taking control of Takeda’s entire cancer drug portfolio, and trying to fit her … Continue reading “Millennium, After Takeda Takeover, Shows Off Cancer Drug Pipeline”

Vecna’s “Nerds” Ready BEAR Robot for First Field Test at Georgia Army Base

Imagine a soldier is wounded in the middle of a violent firefight in the streets of Mosul, Iraq. With bullets whizzing in every direction, it’s almost guaranteed that a medic would be shot in a rescue attempt. Enter the BEAR robot, which rolls up to the wounded soldier, scoops her up in its arms, and … Continue reading “Vecna’s “Nerds” Ready BEAR Robot for First Field Test at Georgia Army Base”

Visible Measures Sees $10M C Round

Boston-based Visible Measures, the Web video audience tracking firm we profiled in January 2008 shortly after it closed its $13.5 million Series B round, said today that it has raised a $10 million C round. Participants in the round included new investor Northgate Capital and existing investors General Catalyst Partners and MDV-Mohr Davidow Ventures. “This … Continue reading “Visible Measures Sees $10M C Round”

Kaspersky Lab Launches Malware News Site Threatpost

Randy Drawas, chief marketing officer at Moscow, Russia-based antivirus company Kaspersky Lab, shared some disturbing statistics with me earlier this week. In 2007, he said, Kaspersky’s researchers detected as much malicious software activity on the Internet as they had in the previous 11 years combined. In 2008, malware volume doubled yet again. And in 2009, … Continue reading “Kaspersky Lab Launches Malware News Site Threatpost”

Molecular Insight Preps for Pivotal Trial of Heart Attack Warning Sign Detector

Cambridge, MA-based Molecular Insight Pharmaceuticals is gearing up for a pivotal clinical trial of a new type of diagnostic tool for spotting early signs of blockages in the heart that can lead to a heart attack or stroke. Molecular Insight (NASDAQ: [[ticker:MIPI]]) is making this strategic move after reviewing detailed results from a 510-patient mid-stage … Continue reading “Molecular Insight Preps for Pivotal Trial of Heart Attack Warning Sign Detector”

Venture Industry and Government Together Will Grow the Economy

With the financial crisis as a backdrop, venture capitalists and policy makers are today finding themselves on common ground more than ever. Our economy has some serious structural problems. And the way past these problems will be through innovation and job creation. Venture capital has been the engine for America’s new, innovative companies for over … Continue reading “Venture Industry and Government Together Will Grow the Economy”

Aushon Biosystems Obtains $6,500,000 Series B Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=6a94888f-35ff-4d10-9840-a7a4be55062b&Preview=1 Date 3/26/2009 Company Name Aushon Biosystems Mailing Address 43 Manning Rd. Billerica, MA 01821 Company Description Aushon BioSystems Inc. is a small, privately owned corporation applying advanced engineering and systems-engineering approaches to the challenges of developing life science markets. Aushon is leveraging its advanced engineering capabilities to develop a set of … Continue reading “Aushon Biosystems Obtains $6,500,000 Series B Financing”

Visible Measures Corp. Secures $10,000,000 Series C Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=669881db-eca0-4f95-92a4-eef7f39ca4a2&Preview=1 Date 3/26/2009 Company Name Visible Measures Corp. Mailing Address 25 Kingston St, 5th Fl Boston, MA 02111 Company Description Visible Measures Corp. (VMC) is helping to revolutionize the way publishers, advertisers, and audiences engage with Internet delivered video. Our Video Experience Measurement (VXM) suite of products provides objective 3rd party audience … Continue reading “Visible Measures Corp. Secures $10,000,000 Series C Financing”

Sticking to its Guns with Gene Therapy, Genzyme To Present Key Findings Within Days

Dozens of companies have given up on gene therapy after the technology failed to live up to its early promise, but not Genzyme. The world’s largest maker of drugs for genetic diseases has stuck with this field through two decades of ups and downs, and it expects to see important results in coming days on … Continue reading “Sticking to its Guns with Gene Therapy, Genzyme To Present Key Findings Within Days”

Spark Capital Launches Startup Seed Fund

[Updated with interview material from Spark Capital general partner Bijan Sabet, see below.] It’s almost the equivalent of the “microloans” phenomenon for the venture world: the profusion of startup schools, bootcamps, incubators, and seed funds that give teams small amounts of money—from a few thousand dollars to a few hundred thousand—to get their ideas up … Continue reading “Spark Capital Launches Startup Seed Fund”

Smarter Speed-Reading: ReadingStream Explores New Ways to Help the Brain Process Text

Like a growing number of Americans, I do most of my reading in front of a laptop or handheld screen. And though I think I read electronic texts a good deal faster than the average person—who by several accounts reads between 200 and 250 words per minute on a screen—I’m open to any technology that … Continue reading “Smarter Speed-Reading: ReadingStream Explores New Ways to Help the Brain Process Text”

Alnara Leapfrogs Into Phase III, Just Six Months After Getting Started

Most biotech startups wait seven years or more before entering late-stage clinical trials. But Alnara Pharmaceuticals, which is just six months removed from its $20 million first-round financing, has acquired a license to an enzyme-replacement pill in the final stage of development for patients with cystic fibrosis and chronic pancreatitis. Cambridge, MA-based Alnara has licensed … Continue reading “Alnara Leapfrogs Into Phase III, Just Six Months After Getting Started”

New Execs for Exact, Sirtris, and Ischemix; New Deal for Biogen and Aveo; New Money for MedAptus and Claros; & More Boston-Area Life Sciences News

The executive suites of several New England’s biotech and medical device companies saw new faces this week. —Cyberkinetics Neurotechnology Systems (OTC:[[ticker:CYKN]]), a Foxborough, MA-based developer of devices to treat and aid patients with spinal injuries, revealed to the Boston Globe that it is shutting down. Earlier this year Cyberkinetics sold the rights to its Andara … Continue reading “New Execs for Exact, Sirtris, and Ischemix; New Deal for Biogen and Aveo; New Money for MedAptus and Claros; & More Boston-Area Life Sciences News”

Locale Android App Gets Skyhook

Boston’s Skyhook Wireless and two forty four a.m., the startup behind the Locale location-awareness application for the Google Android mobile operating system, announced today that Locale now includes Skyhook’s XPS hybrid location-finding software. Carter Jernigan of two forty four a.m. says Locale originally tapped into the native GPS and Wi-Fi-based location finding capabilities of Android … Continue reading “Locale Android App Gets Skyhook”