Eleven months after delaying its planned IPO, Chicopee, MA-based Pogo Jet has officially withdrawn the deal. The charter jet service provider, what has yet to launch its fleet of VLJs, or very light jets, had hoped to sell 7 million shares of its common stock at between $12.50 and $16.50 per share.
Category: Boston
Genzyme Nabs Two Key Regulatory Approvals, Expected to Trigger Revenue Growth
Genzyme has picked up a pair of long-awaited regulatory approvals for two products that are key to the firm’s growth. The Cambridge, MA-based biotech powerhouse (NASDAQ:[[ticker:GENZ]]) says that the European Commission has approved its Belgium plant to produce Pompe disease drug alglucosidase alfa (Myozyme) in 4,000-liter batches. Separately, the firm garnered FDA approval of its … Continue reading “Genzyme Nabs Two Key Regulatory Approvals, Expected to Trigger Revenue Growth”
Bessemer Expands Fund by $350M
Bessemer Venture Partners, which has offices in Boston, Menlo Park, CA, and Larchmont, NY, as well as India and Israel, announced today that it has augmented its current fund family, BVP VII, by $350 million. The fund originally closed in June 2007. “This supplement to our BVP VII fund will ensure that we can take … Continue reading “Bessemer Expands Fund by $350M”
Xconomy Forum: Tomorrow’s Biotech—Innovators and Innovations
New England is home to a dazzling array of today’s most successful biotech inventors, companies, and technologies. But who are the innovators who will help perpetuate our region’s global lead in life sciences in the years and decades to come? What are the local innovations that will help transform the way we treat and prevent … Continue reading “Xconomy Forum: Tomorrow’s Biotech—Innovators and Innovations”
Eyeing $12B Market, Clinical Data Raises $50M to Develop Lead Drug and Pipeline
Hungry for cash to advance its lead depression drug to the market, Newton, MA-based biotech firm Clinical Data (NASDAQ:[[ticker:CLDA]]) has raised $50 million in a convertible debt financing. The funding came from investment affiliates of Clinical Data’s chairman, Randal Kirk, according to the company. Clinical Data says that the new funding will support the firm … Continue reading “Eyeing $12B Market, Clinical Data Raises $50M to Develop Lead Drug and Pipeline”
Actress Glenn Close, “Dream Team” at Fetchdog Aim to Bite Into $40 Billion Pet Market
The story of FetchDog begins with a small group of pet owners who saw a need for an online hub for people like them to buy merchandise, read about trends, and socialize. And the founders of the Portland, ME-based firm, besides their affinity for pets, are also what one investor called a “dream team” of … Continue reading “Actress Glenn Close, “Dream Team” at Fetchdog Aim to Bite Into $40 Billion Pet Market”
Kindling a Revolution: E Ink’s Russ Wilcox on E-Paper, Amazon, and the Future of Publishing
Almost as soon as Amazon released the Kindle e-book reader in November 2007, I settled in to wait for the Kindle 2. Like many other observers, I thought Amazon had made a good first stab at building a usable e-book device, but that it needed a sleeker profile, better ergonomics, new features such as text-to-speech … Continue reading “Kindling a Revolution: E Ink’s Russ Wilcox on E-Paper, Amazon, and the Future of Publishing”
Selecta Biosciences, Inc. Lands $15,100,000 Series B Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=9d86061b-9327-4eb8-96d6-b0c39ba0d4bd&Preview=1 Date 2/26/2009 Company Name Selecta Biosciences, Inc. Mailing Address Undisclosed Cambridge, MA 02138 Company Description The company provides unspecified biotechnologies. Website Undisclosed Transaction Type Venture Equity Transaction Amount $15,100,000 Transaction Round Series B Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor Undisclosed
uLocate Launches Where on Android
Boston-based uLocate announced today that its Where platform, a collection of “widgets” allowing access to location-based services and information on mobile devices, will be available for T-Mobile’s G1 phone, the first mass-market phone that runs the Google Android operating system. Where, which is already available for the Apple iPhone, Blackberry smartphones, and other devices, is … Continue reading “uLocate Launches Where on Android”
VMware Takes On Microsoft, Amazon in the Cloud
Palo Alto, CA-based software firm VMware (NYSE: [[ticker:VMW]]), a subsidiary of Hopkinton, MA-based EMC (NYSE: [[ticker:EMC]]), has rolled out an ambitious cloud-computing program that looks to challenge the big players in the space—Amazon, Google, Microsoft, and others. VMware makes virtualization software that helps companies run their information technology operations, like networking and desktop management, more … Continue reading “VMware Takes On Microsoft, Amazon in the Cloud”
Alnylam’s Spinoff Strategy, Genzyme’s Gaucher-Business Future, Adimab’s Antibody Ambitions, & More Boston-Area Life Sciences News
If you’re a fan or follower of New England’s life sciences industry we’ve got lots for you this week, thanks to some great in-depth reporting by Ryan and Luke. —Luke gave a fascinating look at the strategy of Cambridge, MA-based Alnylam Pharmaceuticals (NASDAQ: [[[ticker:ALNY]]), a pioneer in the field of RNA interference, or RNAi. Alnylam … Continue reading “Alnylam’s Spinoff Strategy, Genzyme’s Gaucher-Business Future, Adimab’s Antibody Ambitions, & More Boston-Area Life Sciences News”
Netezza Buys Tizor Systems for $3M
This isn’t the exit that investors in Tizor Systems were hoping for. The Maynard, MA-based startup, which says it raised $23.3 million in its last two rounds of financing, was sold last week to Netezza (NYSE:[[ticker:NZ]]) for $3.1 million in cash, according to a regulatory filing. Tizor, which makes software to audit and guard information … Continue reading “Netezza Buys Tizor Systems for $3M”
Selecta Biosciences Banks $15M to Advance Nano-Sized Immune-Stimulating Drugs
Selecta Biosciences, a secretive biotech startup, is breaking its silence today to reveal the closing of a $15.1 million second round of financing. The sizable round is a rarity during what has been a financial drought for most young biotech firms, yet the founders of Watertown, MA-based Selecta say the startup has attracted investors due … Continue reading “Selecta Biosciences Banks $15M to Advance Nano-Sized Immune-Stimulating Drugs”
IBM Builds Critical Mass at “Mass Lab”; Aims to Mix Acquired Subsidiaries Without Dissolving Them
IBM’s sweeping project to consolidate its local software divisions at renovated campuses in Littleton and Westford, MA, is more than just a physical reorganization: it’s a chance for the company to craft a new identity for itself in Massachusetts, according to one of Big Blue’s top executives in the state. “I think we are one … Continue reading “IBM Builds Critical Mass at “Mass Lab”; Aims to Mix Acquired Subsidiaries Without Dissolving Them”
Investors Back Growing Bay State Software Firms Aveksa and Apparent Networks in Pair of Series C Financings
It’s no anomaly that two Massachusetts firms that provide software for big organizations—Waltham-based Aveksa, and Apparent Networks, headquartered in Wellesley Hills—are announcing the close of significant financings today. Both companies are commercially viable businesses with revenue streams, the types of operations that are attracting venture capital and private equity investments during this stormy recession. Aveksa … Continue reading “Investors Back Growing Bay State Software Firms Aveksa and Apparent Networks in Pair of Series C Financings”
Aveksa Inc. Obtains $10,000,000 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=6978cf24-2271-419d-81a9-4673ff462a75&Preview=1 Date 2/25/2009 Company Name Aveksa Inc. Mailing Address 265 Winter Street Waltham, MA 02451 Company Description Aveksa was founded in late 2004 by Deepak Taneja, former CTO and vice president of engineering at Netegrity. Since that time, he has focused on R&D and has built an executive team with more than … Continue reading “Aveksa Inc. Obtains $10,000,000 New Round”
Apparent Networks Receives $12,000,000 Series C Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=c73cbd28-d3a1-4c1b-ae0d-a08680b0f290&Preview=1 Date 2/25/2009 Company Name Apparent Networks Mailing Address 110 Cedar Street Wellesley Hills, MA 02481 Company Description Apparent Networks is the developer of AppCritical, a software application that provides a radically different and superior basis for assessing, measuring and diagnosing complex networks to facilitate the optimal performance and management of data, … Continue reading “Apparent Networks Receives $12,000,000 Series C Financing”
Selecta Biosciences, Inc. Receives $15,100,000 Series B Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=9d86061b-9327-4eb8-96d6-b0c39ba0d4bd&Preview=1 Date 2/25/2009 Company Name Selecta Biosciences, Inc. Mailing Address Undisclosed Cambridge, MA 02138 Company Description The company provides unspecified biotechnologies. Website Undisclosed Transaction Type Venture Equity Transaction Amount $15,100,000 Transaction Round Series B Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor Flagship Ventures Venture Investor Polaris Venture Partners … Continue reading “Selecta Biosciences, Inc. Receives $15,100,000 Series B Funding”
Netezza Corporation Acquires Tizor for Undisclosed Sum
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d6a0d5ea-3439-4e73-8d91-eae368100a0e&Preview=1 Date 2/25/2009 Company Name Tizor Mailing Address 5 Clock Tower Place Maynard, MA 01754 Company Description In a world driven by open networks, outsourcing and the growing risks of information theft, organizations require a higher level of insight and control over user activity with mission critical applications and data. Website http://www.tizor.com … Continue reading “Netezza Corporation Acquires Tizor for Undisclosed Sum”
Dynogen Pharma Files for Bankruptcy
Waltham, MA-based drug developer Dynogen Pharmaceuticals has filed for bankruptcy protection this week under the weight of $10.6 million in liabilities, the Boston Business Journal reported this morning. Dynogen, a developer of drugs for irritable bowel syndrome and other gastrointestinal disorders, raised some $67 million over the past six years from Boston-area investors such as … Continue reading “Dynogen Pharma Files for Bankruptcy”
Boston-Power Expands Manufacturing
Boston-Power, a Westborough, MA-based maker of long-lasting lithium-ion batteries, says that it has struck a deal with battery maker GP Batteries to dedicate GP’s entire plant in Taiwan to the production of Boston-Power’s Sonata batteries. The deal is expected to double production this year of Sonata batteries, which Boston-Power is supplying to HP as lithium-ion … Continue reading “Boston-Power Expands Manufacturing”
Panacos Cuts Workers, Shutters MD Facility
Panacos Pharmaceuticals (NASDAQ:[[ticker:PANC]]), a Watertown, MA-based developer of drugs for HIV, says that it will shutter its Gaithersburg, MD, facility and cut its work force from 11 to four employees to conserve cash. Panacos has also hired investment banking firm Oppenheimer to advise the company about such strategic options such as the sale of Panacos … Continue reading “Panacos Cuts Workers, Shutters MD Facility”
$11.5M C Round Flows into Rivulet
Herndon, VA-based Rivulet Communications, which has a research and development center in Portsmouth, NH, said today that it has secured $11.5 million in Series C funding, courtesy of investors ATA Ventures, Menlo Ventures, Performance Equity Management, and Scorpion Capital Partners. Rivulet makes software used by hospitals, media organizations, and government agencies to share live or … Continue reading “$11.5M C Round Flows into Rivulet”
Borealis Ventures: The Real Venture Capitalists from New Hampshire
Philip Ferneau says that it’s pretty funny that the movie “Wedding Crashers” follows the exploits of two bachelors who decide to keep up appearances at the wedding of complete strangers by posing as venture capitalists from New Hampshire. Ferneau and his partners at Borealis Ventures are indeed among the few actual venture capitalists based in … Continue reading “Borealis Ventures: The Real Venture Capitalists from New Hampshire”
Tizra Puts Publishers Back in Control of Their E-Books
For traditional print publishers, the fact that more and more people are buying book-length works online and reading them on their laptops, iPhones, or Kindles is both encouraging and anxiety-provoking. The rise of e-books opens up potential new markets. But it means publishers have to figure out the best way to share their content electronically—and … Continue reading “Tizra Puts Publishers Back in Control of Their E-Books”
Lytton Leaves VC Firm for Biogen
Michael Lytton has left his post as general partner at Boston venture firm Oxford Bioscience Partners to be executive vice president of business development at Cambridge, MA-based biotech powerhouse Biogen Idec (NASDAQ:[[ticker:BIIB]]), according to a press release. Lytton, a well-known venture capitalist who joined Oxford in 2001, will now be on the opposite side of … Continue reading “Lytton Leaves VC Firm for Biogen”
Amicas Plans $39M Buyout of Emageon
Amicas (NASDAQ:[[ticker:AMCS]]), a Boston-based provider of software for managing medical images and other healthcare information, says that it has agreed to buy competitor Emageon (NASDAQ:[[ticker:EMAG]]), headquartered in Birmingham, AL, for $39 million in cash. Emageon’s board of directors has approved the deal, and Amicas plans March 5 to begin a tender offer of $1.82 per … Continue reading “Amicas Plans $39M Buyout of Emageon”
Zoll Medical to Buy Alsius for $12M
Zoll Medical (NASDAQ:[[ticker:ZOLL]]), a Chelmsford, MA-based provider of devices and products for the critical care market, has agreed to acquire the assets of medical devices firm Alsius for $12 million in cash, according to a press release. Irvine, CA-based Alsius (NASDAQ:[[ticker:ALUS]]) makes products that control body temperature to, for example, induce hypothermia in stroke victims … Continue reading “Zoll Medical to Buy Alsius for $12M”
With New Firm Makaira Venture Partners, STD Med Gives Medtech Fund Another Shot
It may be a lousy time for raising money for venture capital funds, but that isn’t deterring medtech entrepreneur Steven Tallarida from launching Makaira Venture Partners near Boston. Though his earlier strategy to finance a medtech fund fell short, Tallarida and his associates plan to hit the road in the coming months to raise about … Continue reading “With New Firm Makaira Venture Partners, STD Med Gives Medtech Fund Another Shot”
Renewables Aren’t Just for Biofuels: Microbia Makes Industrial Chemicals a Bit Greener
Microbia envisions a future in which specialty chemicals we take for granted, like the beta-carotene that goes in dietary supplements, will come from renewable sources instead of the usual petrochemicals. It won’t wean the world off oil, but it could enable this Lexington, MA-based company and its partners to claim they’re helping to green up … Continue reading “Renewables Aren’t Just for Biofuels: Microbia Makes Industrial Chemicals a Bit Greener”
The Travel Channel and SnapMyLife: TV Experiments with Mobile Social Media, Gingerly
People seem to eat up the platefuls of food-related programming fed to them by cable networks like Lifetime, The Travel Channel, and the Food Network. Will cell phone owners do the same? The folks at SnapMyLife, the mobile photo-sharing community run by Needham, MA-based Mobicious, hope to find out. Last year the company formed a … Continue reading “The Travel Channel and SnapMyLife: TV Experiments with Mobile Social Media, Gingerly”
Coast to Coast
Earlier this month I joined Massachusetts Governor Deval Patrick and members of his administration on a trade mission to the West Coast. The trade mission was an opportunity to showcase why Massachusetts is a great place to do business for companies in information technology, life sciences and other sectors. For us at the Massachusetts Life … Continue reading “Coast to Coast”
Buzzwire Launches User-Driven Mobile News Site
A growing number of online media companies offer mobile-friendly versions of their articles or videos, often resizing or stripping down the material to make it more easily accessible on smaller screens, and at lower bandwidth. But if you’re a cell phone owner who wants to spend a few minutes scanning mobile sites, there’s a problem. … Continue reading “Buzzwire Launches User-Driven Mobile News Site”
Intelligent Bio-Systems, Inc Obtains Series B Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=a22bd7df-8d27-4247-b63e-17f3194dba34&Preview=1 Date 2/23/2009 Company Name Intelligent Bio-Systems, Inc Mailing Address 34 Bear Hill Rd. Waltham, MA 02451 Company Description Intelligent Bio-Systems is developing a next generation DNA sequencing system that can simultaneously increase the speed and reduce the cost of producing sequence data by a factor of 100 to 1,000. It uses … Continue reading “Intelligent Bio-Systems, Inc Obtains Series B Round”
Polaris Surveys Founders on Dilution
Sim Simeonov, a general partner at Waltham, MA-based Polaris Venture Partners, is conducting an online survey to find out how much stock dilution technology startup founders generally experience between the creation of their companies and the all-important exit event. “There are rules of thumb but there is no good data about what happens to common … Continue reading “Polaris Surveys Founders on Dilution”
Genzyme Oral Pill for Gaucher’s Succeeds in Trial, Aims to Extend Key Revenue Stream
Genzyme (NASDAQ:[[ticker:GENZ]]) said this afternoon that its next-generation, oral drug for Gaucher disease passed a mid-stage clinical trial, providing a degree of assurance that the Cambridge, MA-based biotech powerhouse can sustain its franchise for treating the rare genetic disease. The study, which included 26 patients, showed the oral drug was safe and effective. And the … Continue reading “Genzyme Oral Pill for Gaucher’s Succeeds in Trial, Aims to Extend Key Revenue Stream”
New Forms of Wind Power and the Incentive for Out of the Box Thinking on Energy
Saul Griffith—MIT-trained material scientist and mechanical engineer, Lemelson-MIT Prize winner, Macarthur Fellow—will be at Harvard February 25 to talk about his latest startup, Makani Power. The company is seeking to harness high-altitude wind energy to produce energy at an unsubsidized real cost significantly below that of the least expensive coal-fired power plants. Griffith’s free lecture … Continue reading “New Forms of Wind Power and the Incentive for Out of the Box Thinking on Energy”
Ariad Pharma to Sell $24.3M in Stock
Ariad Pharmaceuticals (NASDAQ:[[ticker:ARIA]]), a Cambridge, MA-based developer of drugs for cancer and other diseases, says it has sold 14.37 million shares of common stock to new and existing institutional investors for $1.69 per share, or a total of $24.3 million. Investors were also granted .75 warrants for each share purchased to buy Ariad’s stock at … Continue reading “Ariad Pharma to Sell $24.3M in Stock”
Vertex’s $320M SPO, Verenium and BP’s Joint Venture, Genocea’s $23M Series A, & More Boston-Area Deals News
We’ve got several different venture deals to talk about this week, as well as an acquisition, a sizeable secondary offering, and other interesting transactions from New England’s tech and life sciences firms. —Cardiac implant maker HeartWare International (ASX: [[ticker:HIN]]) of Framingham, MA, agreed to a $282 million acquisition offer from Pleasanton, CA-based Thoratec (NASDAQ: [[ticker:THOR]]). … Continue reading “Vertex’s $320M SPO, Verenium and BP’s Joint Venture, Genocea’s $23M Series A, & More Boston-Area Deals News”
Beacon Power to Raise up to $18M
Beacon Power (NASDAQ:[[ticker:BCON]]), a Tyngsboro, MA-based provider of services and products for efficient electricity use, says it has struck a deal to raise up to $18 million through the sale of its common stock to investment fund Seaside 88 over the next 18 months. At least some of the funds will support the production of … Continue reading “Beacon Power to Raise up to $18M”
Plinky: The Cure for Blank Slate Syndrome
If you feel it’s time to share something online but can’t think of anything to say, it might be a sign that you’re dull. If you try too hard to craft a bon mot for your blog or some table talk for your Twitter stream, in other words, you might just be inflicting your insipidness … Continue reading “Plinky: The Cure for Blank Slate Syndrome”
Out With Hedge Funds, In With Blue Bloods: Vertex Transforms Investor Base Via Stock Sale
Vertex Pharmaceuticals has been around the block with biotech hedge funds. These are the people who aim to get rich trading volatile stocks second-to-second, and make big bets, long or short, on whether an experimental drug will work. Now that Vertex has passed some of the riskiest stages of drug development, the company figured it … Continue reading “Out With Hedge Funds, In With Blue Bloods: Vertex Transforms Investor Base Via Stock Sale”
Pocket Communications Northeast Obtains $25,000,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=191952b3-2436-4683-9117-b4d894488e0f&Preview=1 Date 2/20/2009 Company Name Pocket Communications Northeast Mailing Address 1280 Blue Hills Ave Bloomfield, CT 06002 Company Description Pocket is Texas’ fastest-growing flat rate wireless company, and the third largest flat rate carrier in the nation. Since the company was formed in May 2006, it has grown to over a quarter … Continue reading “Pocket Communications Northeast Obtains $25,000,000 New Financing”
MIT Enterprise Forum Innovation Series: The Future of Biotech
Featuring a a keynote address by world-renowned biotech visionary G. Steven Burrill, CEO of Burrill & Company, followed by presentations and discussion on the controversial area of stem cell therapies and regenerative medicine. Includes networking reception. See the event web site for registration and program details.
Playing in the Market—The State of the New England Game Industry in Today’s Economic Climate
Even fun and games aren’t all fun and games in today’s economy. The MIT Enterprise Forum’s NE Games SIG is hosting a panel discussion and Q&A to address the volatile economy and its potential effects on the game and interactive entertainment industries, locally and throughout the world. List of speakers and registration information on the … Continue reading “Playing in the Market—The State of the New England Game Industry in Today’s Economic Climate”
Solar in Boston / Solar in America
This half-day workshop will bring together representatives from local, state, and federal agencies, utilities, and others to discuss the current and future state of solar power in and around Boston. Topics include energy related legislation, utility company initiatives, and the prospects for solar power under President Obama. For more information or to register, please send … Continue reading “Solar in Boston / Solar in America”
Genocea Biosciences Closes $23M Series A, Adds New CEO Bakali
Genocea Biosciences, a Cambridge, MA-based startup built around rapid vaccine discovery technology licensed from Harvard Medical School, says it has raised $23 million in a Series A round of financing and named biotech industry veteran Staph Leavenworth Bakali as its CEO. The firm’s first round was led by SR One, the venture arm of London-based … Continue reading “Genocea Biosciences Closes $23M Series A, Adds New CEO Bakali”
Sky Is Limit for Bankrupt Skyward
Skyward Mobile, a Wakefield, MA, startup developing a platform that lets users play games and read e-books on their cell phones, filed for Chapter 7 bankruptcy protection yesterday, according to a report in the Boston Business Journal. Not to be confused with Stratham, NH-based Skyward Innovations, a company working on mobile travel-related applications, Skyward Mobile … Continue reading “Sky Is Limit for Bankrupt Skyward”
RedShift Secures $6M Second Round
RedShift Systems, a Burlington, MA-based maker of advanced thermal imaging cameras used in manufacturing and other industries, says it has closed a $6 million second round of financing led by St. Louis-based technology company Emerson (NYSE:[[ticker:EMR]]), a new investor in the firm. The company says that previous backers also contributed to the financing.
CEO Gerngross Says Deals Around Adimab’s Yeast-Based Antibody Discovery Technology Are Progressing
Adimab is taking an uncommon approach to exploiting the value of its antibody-discovery technology. The Lebanon, NH-based biotech startup has no plans to ever develop its own drugs—CEO Tillman Gerngross says he thinks Adimab can become successful with income from drug-discovery and licensing deals alone. That is the level of confidence that Gerngross apparently has … Continue reading “CEO Gerngross Says Deals Around Adimab’s Yeast-Based Antibody Discovery Technology Are Progressing”