How do industry, government, innovators, clinicians, and investors work together to create both “health” and “wealth”? Such “Connected Health” is the subject of this evening forum at the British Consulate-General Boston, the full title of which is, Healthcare Policy—Delivering the ‘Get-Well’ Plan: The Role of Connected Health. Speakers include: —Dr. JudyAnn Bigby, Secretary of Health … Continue reading “Healthcare Policy—Delivering the ‘Get-Well’ Plan”
Category: Boston
VC Group Plots Familiar Strategy For Industry Recovery
The venture capital model might not be completely broken, but the chairman of the National Venture Capital Association says it needs to be fixed. With only six venture-backed IPOs in 2008—the worst showing since 1976—NVCA chairman Dixon Doll says the venture industry needs to help restart stalled capital markets. Doll says the Virginia-based NVCA is … Continue reading “VC Group Plots Familiar Strategy For Industry Recovery”
WonderGlen Comedy Portal Designed to Plumb Internet’s Unreality, Says Karlin
I outed Ben Karlin. Not that way: he’s straight, at least judging from his mom’s foreword to Things I’ve Learned from Women Who’ve Dumped Me, the 2008 essay collection Karlin edited. I mean I outed him as the creator of WonderGlen, a painfully funny comedy website that appeared out of nowhere last October. Purporting to … Continue reading “WonderGlen Comedy Portal Designed to Plumb Internet’s Unreality, Says Karlin”
Dicerna Aims to Gain Foothold in RNAi World With More Potent, Longer-Lasting Gene Silencers
Most of the headlines in the RNA interference world go to Cambridge, MA-based Alnylam Pharmaceuticals (NASDAQ: [[ticker:ALNY]]). While that company says it has amassed enough intellectual property—and cash—to dominate this emerging field of gene-silencing technologies for years, they aren’t the only game in town. One intriguing upstart of the RNAi field is a privately held … Continue reading “Dicerna Aims to Gain Foothold in RNAi World With More Potent, Longer-Lasting Gene Silencers”
Exact Teams With Genzyme, Shrugs off Sequenom; Virtual Computer Reels in $15M; Beacon Power Inks National Grid Agreement; & More Boston-Area Deal News
Plenty of deals to discuss from all areas of technology and life sciences this week—including a couple of M&A switcheroos. —Diagnostics maker Exact Sciences (NASDAQ:[[ticker:EXAS]]) of Marlborough, MA, sold its assets related to prenatal and reproductive health to Cambridge, MA-based Genzyme (NASDAQ:[[ticker:GENZ]]) for $24.5 million. In response, San Diego-based Sequenom (NASDAQ:[[ticker:SQNM]]) ended its attempted takeover … Continue reading “Exact Teams With Genzyme, Shrugs off Sequenom; Virtual Computer Reels in $15M; Beacon Power Inks National Grid Agreement; & More Boston-Area Deal News”
Radialpoint Acquires HiWired for Undisclosed Sum
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=71dc2a08-06b9-4e9f-8bcf-741845da7bf8&Preview=1 Date 1/30/2009 Company Name HiWired Mailing Address 117 Kendrick Street Needham, MA 02494 Company Description HiWired partners with electronics manufacturers, retailers and Internet providers to offer remote technology management services to consumers and small businesses. Website http://www.hiwired.com Transaction Type M&A Transaction Amount Undisclosed Transaction Round Proceeds Purposes M&A Terms Financial terms … Continue reading “Radialpoint Acquires HiWired for Undisclosed Sum”
Atlas Venture Closes New Fund with $283M, Does the Staffing Shuffle
Boston- and London-based Atlas Venture announced today that it has closed its eighth fund with $283 million committed by existing limited partners Kisco Management, The Kresge Foundation, Paul Capital, and others, and new limited partners such as Franklin Park, Industriens Pensionsforsikring A/S, and Meketa Investment Group. The fund’s first investment was in Waltham, MA-based CloudSwitch, … Continue reading “Atlas Venture Closes New Fund with $283M, Does the Staffing Shuffle”
TheraGenetics Bought by Avacta
TheraGenetics, a Cambridge, MA and London-based diagnostics company, said today it agreed to be acquired by UK-based Avacta Group for an undisclosed amount of cash and stock. TheraGenetics is developing diagnostic tests to see how individual patients might respond to drugs for schizophrenia, depression, bipolar disorder, Alzheimer’s disease and attention deficit hyperactivity disorder.
Zafgen Cuts Deal With Argenta
Zafgen, the Cambridge, MA-based developer of drugs to shrink fat tissue, said today it has formed a partnership with Harlow, UK-based Argenta Discovery. Argenta, a contract research firm, will assist with the development of one of Zafgen’s experimental treatments for obesity. Earlier this week, we profiled this company’s quest to pioneer a new method of … Continue reading “Zafgen Cuts Deal With Argenta”
Carbonite CEO Apologizes for Planted Amazon Reviews, But Bristles at Critics
Boston-based Carbonite, whose online backup service is the main competitor for Decho’s Mozy, has gotten some good publicity over the last few months for its tongue-in-cheek promotions on Jimmy Kimmel Live and other TV and radio programs. But the company is taking a public relations hit this week over a recently uncovered case of reviews … Continue reading “Carbonite CEO Apologizes for Planted Amazon Reviews, But Bristles at Critics”
Metcalfe Misses Xconomy Band Battle—Climbs Kilimanjaro Instead
A few weeks ago, after sending out a notice reminding folks of our then-upcoming Xconomy Battle of the Tech Bands on January 22, I got an e-mail back from Bob Metcalfe of Polaris Venture Partners. It read: “Thanks for inviting me…but darn, on January 22, I will be returning from Africa, having just climbed (I … Continue reading “Metcalfe Misses Xconomy Band Battle—Climbs Kilimanjaro Instead”
OLPC 2.0: After Layoffs, One Laptop Foundation Reboots With New Focus and Big Plans
For those inspired by Nicholas Negroponte’s vision of bringing affordable computing to every child on the planet, it was a sad day early this month when the One Laptop Per Child Foundation he founded announced it was laying off half its staff and undertaking a significant reorganization. Negroponte himself isn’t crying, though—he is working on … Continue reading “OLPC 2.0: After Layoffs, One Laptop Foundation Reboots With New Focus and Big Plans”
Boston Biotech Business Development Conference
How do life sciences companies continue to develop their business activities in the current economic environment? Well, top executives from Big Pharma and leading biotechs, among others, are convening for the third annual Boston Biotech Business Development Conference to share their insights “on the current and future outlook for licensing, M&A and other business development … Continue reading “Boston Biotech Business Development Conference”
2009 MassTLC Annual Meeting: Seizing Opportunity in Tough Economic Times
You can curl up and hide, or you can try and use the turmoil of hard economic times to gain ground on your competitors and take advantage of other opportunities. The annual meeting of the Massachusetts Technology Leadership Council is focused on the latter. And in addition to the lively discussion, there will be a … Continue reading “2009 MassTLC Annual Meeting: Seizing Opportunity in Tough Economic Times”
Big New Contracts at Lionbridge
Lionbridge Technologies (NASDAQ: [[ticker:LIOX]]), the Waltham, MA-based translation services company whose financial performance we questioned in a profile last May, announced yesterday that it has obtained several new multi-year contracts that should shore up revenues by $25 to $30 million a year. The company said it had won contracts with a provider of power services … Continue reading “Big New Contracts at Lionbridge”
140 Layoffs at Analogic
Peabody, MA-based medical imaging and airport security company Analogic (NASDAQ: [[ticker:ALOG]]) said today that it will reduce its global workforce by 140 positions, or about 9 percent, in response to declining demand for capital equipment among healthcare organizations. The company said the cuts would save $9.6 million annually. We will update the Boston Tech Layoff … Continue reading “140 Layoffs at Analogic”
Exact Sciences Takes $24.5M Genzyme Deal, Sequenom to Drop Buyout Offer
Exact Sciences, a diagnostics firm that had been running low on cash, has sold its assets related to prenatal and reproductive health to big biotech Genzyme for $24.5 million—prompting Sequenom to end its pursuit to buy Exact in an all-stock deal valued at $41 million, according to statements from Exact and Sequenom. Saying it could … Continue reading “Exact Sciences Takes $24.5M Genzyme Deal, Sequenom to Drop Buyout Offer”
WordStream Launches Low-Cost Search Engine Marketing Tool, Raises $4 Million
Yesterday Bruce wrote about Covario, a San Diego-based search engine marketing (SEM) company whose clients pay $100,000 to $200,000 a year for help making sure that sponsored links to their websites appear in the right places on Google and other search engines. Here in Boston, an SEM company is launching today at the opposite end … Continue reading “WordStream Launches Low-Cost Search Engine Marketing Tool, Raises $4 Million”
Renewable Energy Blog Launches
Smith Energy, a Cambridge, MA-based developer of wind, solar, and energy storage projects, today launched a news and opinion blog called Build Baby Build. The blog is focused mainly on helping community members organize distributed generation projects such as wind farms. “Time and time again, important renewable energy projects fail because of a small but … Continue reading “Renewable Energy Blog Launches”
Organogenesis Gets $7.4M State Grant
The Massachusetts Life Sciences Center, the agency that manages state investments in the life sciences sector, says that it has awarded a two-year, $7.4 million grant to Organogenesis to support the firm’s expansion in the state. Organogenesis, a Canton, MA-based maker of living cell therapies for damaged tissues, has purchased two buildings in Canton and … Continue reading “Organogenesis Gets $7.4M State Grant”
Web Startup fixR Picks Boston as Ground Zero for Contractor Marketplace
(Updated: Additional information has been added to this story. Please see the editor’s note below.) Call it eBay for contractors—and at least initially for plumbers and carpenters and electricians in the Boston area. FixR, a Spain-based Web startup, has chosen the Hub for the first launch of its online marketplace where contractors bid on jobs … Continue reading “Web Startup fixR Picks Boston as Ground Zero for Contractor Marketplace”
Zafgen’s Big Idea: Fight Fat by Cutting Off Its Blood Supply
Public health leaders increasingly fret about the epidemic in fatness that has left two-thirds of adults in this country overweight or obese. They urge people to drop the Big Macs and hit the treadmill. But there are some exciting ideas emerging within the biotech and pharmaceutical arenas about what might be done when all that … Continue reading “Zafgen’s Big Idea: Fight Fat by Cutting Off Its Blood Supply”
Regulus Strikes Out On Its Own, J&J Seeks “Enlight”-enment, Synta Awaits Melanoma Data, & More Boston-Area Life Sciences News
There were some interesting M&A developments this past week involving or potentially affecting Massachusetts life sciences firms. Those, and the rest of the week’s news, below. —Regulus Therapeutics, a joint venture of Cambridge, MA-based Alnylam (NASDAQ: [[ticker:ALNY]]) and Carlsbad, CA-based Isis Pharmaceuticals (NASDAQ: [[ticker:ISISI]]), unveiled plans to raise “a very respectable amount” of capital from … Continue reading “Regulus Strikes Out On Its Own, J&J Seeks “Enlight”-enment, Synta Awaits Melanoma Data, & More Boston-Area Life Sciences News”
WordStream Inc Obtains $4,000,000 Series A Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=c10b871e-59a2-4da7-aa8c-72d8188c2827&Preview=1 Date 1/28/2009 Company Name WordStream Inc Mailing Address 133 Federal St, 5th Floor Boston, MA 02110 Company Description WordStream is a patented, hosted software service that automates most of the painful manual work involved with creating and optimizing both paid and natural search engine marketing; it lets Web marketing professionals realize … Continue reading “WordStream Inc Obtains $4,000,000 Series A Round”
Boston Scientific and Rival Settle Suits
Boston Scientific (NSYE:[[ticker:BSX]]), the Natick, MA-based medical devices giant, and Medtronic (NYSE:[[ticker:MDT]]) have settled two lawsuits and agreed to stand down from three others to end all litigation between the two industry rivals in the fields of interventional cardiology and endovascular repair, Boston Scientific announced late this afternoon. The company says terms of the settlements … Continue reading “Boston Scientific and Rival Settle Suits”
Innovative Spinal Technologies Jilted, Now Bankrupt, Source Says
Last night we reported that Mansfield, MA-based Innovative Spinal Technologies, a maker of implants to correct degenerative spinal disorders, had gone dark—the company’s website was down and phone calls were going unanswered. A former employee who recently left the company now tells Xconomy that IST shut its doors on Friday, filed for bankruptcy protection, and … Continue reading “Innovative Spinal Technologies Jilted, Now Bankrupt, Source Says”
NitroMed Takes Buyout Offer from Deerfield, Dumps Archemix at the Altar
NitroMed (NASDAQ:[[ticker:NTMD]]), the Lexington, MA-based drug developer that struggled to market a heart failure drug for African-Americans, says it has agreed to be acquired for 80 cents per share in cash by investment firm Deerfield Management. This means NitroMed bailed out of previous agreements to sell BiDil to specialty drugmaker JHP Pharmaceuticals and to merge … Continue reading “NitroMed Takes Buyout Offer from Deerfield, Dumps Archemix at the Altar”
MoneyAisle Passes $100 Million in Deposits
MoneyAisle, the online marketplace for banking products that we profiled shortly after its launch last June, said today that users have now put more than $100 million into certificates of deposit and high-yield savings accounts via the company’s reverse-auction system, in which banks submit competing bids for potential customers’ business. MoneyAisle CEO Mukesh Chatter said … Continue reading “MoneyAisle Passes $100 Million in Deposits”
Viewers Hunt for Sirtris’ Anti-Aging Drugs After 60 Minutes Story
Apparently, there were still some people who hadn’t heard of Sirtris and its widely publicized anti-aging pills, because Sunday evening’s 60 Minutes story on the Cambridge, MA, biotech firm sparked a surge in Web searches on the company as well as requests for its experimental drugs. The 60 Minutes story on CBS was a recap … Continue reading “Viewers Hunt for Sirtris’ Anti-Aging Drugs After 60 Minutes Story”
Genzyme Shares Climb as Competing Kidney Drug Stumbles
Genzyme shares got an unexpected boost this morning. The Cambridge, MA-based biotech company (NASDAQ: [[ticker:GENZ]]) climbed more than $1 a share to $69.20 this morning after a rival, Amgen, said it discontinued development of an experimental treatment that had been posing a threat to Genzyme’s kidney drug franchise. Amgen (NASDAQ: [[ticker:AMGN]]) made the announcement yesterday … Continue reading “Genzyme Shares Climb as Competing Kidney Drug Stumbles”
Pfizer Bid for Wyeth Will Stall Mass. Biotech Deals, CEO Says, State Official Still Sees Growth
A combination of drug giants Pfizer and Wyeth could have many implications for the greater Boston life sciences sector, where both companies employ thousands of workers and have ties to many local biotech firms. News of New York-based Pfizer’s $68 billion proposed acquisition of Wyeth drew mixed reviews from biotech executives and officials in the … Continue reading “Pfizer Bid for Wyeth Will Stall Mass. Biotech Deals, CEO Says, State Official Still Sees Growth”
Synta, Developer of New Class of Cancer Drugs, Eagerly Awaits Results From Key Trial
Nothing really buys time for patients with terminal forms of melanoma, a type of skin cancer. Not chemotherapy, not targeted antibody drugs, not genetic-based antisense treatments. But Lexington, MA-based Synta Pharmaceuticals should find out within weeks whether or not it has made a breakthrough with a new approach. Synta (NASDAQ: [[ticker:SNTA]]) is on pins and … Continue reading “Synta, Developer of New Class of Cancer Drugs, Eagerly Awaits Results From Key Trial”
Sloan School Students Survey Boston Startup Scene
In early January, students from MIT’s Sloan School of Management fanned out to companies in Boston, San Francisco, Silicon Valley, and Seattle on the school’s annual Tech Trek. The student-organized job-prospecting event puts budding business moguls soon to receive their MBAs into the same conference rooms with technology entrepreneurs for a download on each company’s … Continue reading “Sloan School Students Survey Boston Startup Scene”
High-Energy Startups: A Report from the Sloan School Tech Trek
“You should visit us more often!” said one of our hosts during the MIT Sloan School of Management’s Massachusetts Tech Trek two weeks ago. The host’s enthusiasm was understandable—the company had just received news of a fresh round of funding in the midst of our visit. But such enthusiasm and energy (pun intended) was clearly … Continue reading “High-Energy Startups: A Report from the Sloan School Tech Trek”
Yes, There Are MBA-Level Startup Jobs Out There: Impressions from the Sloan School Tech Trek
When I first moved from Detroit to Boston a year ago, I discovered a plethora of opportunities in technology companies that are not available anywhere else. Unfortunately, I’ve found that personal connections sometimes matter more than resume credentials in finding a job in the start-up technology space. As a second year MBA student at MIT … Continue reading “Yes, There Are MBA-Level Startup Jobs Out There: Impressions from the Sloan School Tech Trek”
What’s Up at Innovative Spinal Technologies? Everything Seems Down
When nobody answers a company’s phones and its website turns into a big fat 404 error, it can’t be a good sign. That seems to be the situation at Innovative Spinal Technologies, a Mansfield, MA, medical device company that, according to our calculations, had raised some $63 million in venture and private equity funding to … Continue reading “What’s Up at Innovative Spinal Technologies? Everything Seems Down”
Beacon Power, National Grid Ink Deal
Beacon Power (NASDAQ: [[ticker:BCON]]), a Tyngsboro, MA, company developing flywheel-based energy storage systems that help electrical grid operators smooth out the supply of power, announced today that it has signed an information-sharing agreement with National Grid (NYSE: [[ticker:NGG]]), the UK-based utility that supplies power to much of the Northeastern United States. Under the agreement, National … Continue reading “Beacon Power, National Grid Ink Deal”
550 Layoffs at Brooks Automation
Chelmsford, MA-based Brooks Automation (NASDAQ: [[ticker:BRKS]]), which makes robotic equipment used in the manufacturing of semiconductors, storage media, and flat panel displays, said today that a restructuring plan initiated as a response to deteriorating sales resulted in about 200 layoffs in the final quarter of 2008, and will lead to another 350 layoffs in the … Continue reading “550 Layoffs at Brooks Automation”
Altus Cuts 75 Percent of Staff
Altus Pharmaceuticals, a Waltham, MA-based biotech company, said today in a regulatory filing it is eliminating 107 jobs, or 75 percent of its workforce, and halting development of an experimental cystic fibrosis drug to conserve cash. Altus, which will now have 35 employees, is handing back the rights to Trizytek to the Cystic Fibrosis Foundation. … Continue reading “Altus Cuts 75 Percent of Staff”
Xkoto Raises $3 Million More
Waltham, MA-based Xkoto, a database virtualization company that relocated from Ontario, Canada, to Massachusetts in 2007, announced today that it has raised $3 million from existing investors GrandBanks Capital and GrowthWorks Canadian Fund. The infusion brings the four-year-old company’s total venture pot to $13 million. Xkoto was named InformationWeek’s “Startup of the Year” in 2008 … Continue reading “Xkoto Raises $3 Million More”
Forma Forms Antibiotic-Discovery Partnership with Cubist
Forma Therapeutics came out of stealth mode early this month to reveal its plans to discover drugs for difficult-to-treat cancers—and today the Cambridge, MA-based biotech startup is announcing a deal with antibiotics maker Cubist Pharmaceuticals aimed at applying the startup’s nascent technology to discover antibacterial compounds, according to a press release. Lexington, MA-based Cubist (NASDAQ:[[ticker:CBST]]) … Continue reading “Forma Forms Antibiotic-Discovery Partnership with Cubist”
Lumigent Raises $6 Million
Acton, MA-based Lumigent, a nine-year-old company long handicapped by a dwindling market for its database auditing software, said today that it has secured $6 million in new funding from Waltham, MA-based North Bridge Venture Partners to help with its new mission of helping companies lower the cost of complying with financial regulations such as Sarbanes-Oxley. … Continue reading “Lumigent Raises $6 Million”
Centive Acquired by Xactly
Lowell, MA-based Centive, whose software helps managers track and calculate commission-based compensation for sales representatives, has been purchased by San Jose, CA-based Xactly for an undisclosed sum, the companies said last week. Centive, founded in 1997, had raised more than $92 million in venture funding from the likes of Key Venture Partners, Polaris Venture Partners, … Continue reading “Centive Acquired by Xactly”
GlassHouse Adds Security Consulting with Acquisition of Former Motorola Team
GlassHouse Technologies, the Framingham, MA, firm whose IT consulting services are used by almost half of the Fortune 100 companies, said today that it has acquired Chicago-based CSSG, a fledgling security consulting firm whose key members are recent emigrants from Schaumberg, IL-based Motorola. Terms of the acquisition were not disclosed. GlassHouse is mainly known for … Continue reading “GlassHouse Adds Security Consulting with Acquisition of Former Motorola Team”
Virtual Computer Secures $15 Million, Makes Real Friends with Citrix
Virtual Computer, a Westford, MA, PC virtualization startup that has been gradually decloaking since last fall, today announced that it’s raised a Series B funding round totaling $15 million. The surprisingly large round was led by Highland Capital Partners of Lexington, MA, and Flybridge Capital Partners of Boston, the same investors who put up the … Continue reading “Virtual Computer Secures $15 Million, Makes Real Friends with Citrix”
Rib-X Raises $25M in Debt Financing, Reveals Final Results of Antibiotic Trial
Rib-X Pharmaceuticals has raked in $25 million in a debt financing to develop its pipeline of antibiotics for drug-resistant infections. The New Haven, CT-based biotech firm is expected this morning to reveal details of the financing and final results of a mid-stage clinical trial of its antibiotic delafloxacin. Last time I spoke with Rib-X CEO … Continue reading “Rib-X Raises $25M in Debt Financing, Reveals Final Results of Antibiotic Trial”
Lumigent Technologies Inc. Receives $6,000,000 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=02dab6b8-20e0-4ddf-a294-08506ad9fc2d&Preview=1 Date 1/26/2009 Company Name Lumigent Technologies Inc. Mailing Address 289 Great Road Acton, MA 01720 Company Description Lumigent Technologies, Inc. provides software solutions to safeguard the integrity and availability of enterprise data. The company is privately held and is based in Acton, Massachusetts. Website http://www.lumigent.com Transaction Type Venture Equity Transaction Amount … Continue reading “Lumigent Technologies Inc. Receives $6,000,000 New Round”
Rib-X Pharmaceuticals Inc. Garners $25,000,000 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=67a665de-f29d-4130-8d63-cc7dc216d0e7&Preview=1 Date 1/26/2009 Company Name Rib-X Pharmaceuticals Inc. Mailing Address 300 George Street New Haven, CT 06511-6663 Company Description Rib-X Pharmaceuticals is a product-driven small molecule drug discovery and development company focused on the structure-based design of new classes of antibiotics. The company’s underlying drug discovery engine capitalizes on its proprietary high-resolution … Continue reading “Rib-X Pharmaceuticals Inc. Garners $25,000,000 New Funding”
Virtual Computer Inc Garners $15,000,000 Series B Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=2e78105a-5574-4ce3-9c89-d92b78e95e5e&Preview=1 Date 1/26/2009 Company Name Virtual Computer Inc Mailing Address 3 LAN Drive Westford, MA 01886 Company Description Virtual Computer was founded in November, 2007 by virtualization and security veterans, Alex Vasilevsky and Dan McCall, who each have over 25 years of industry experience. Together, they have recruited one of the most … Continue reading “Virtual Computer Inc Garners $15,000,000 Series B Financing Round”
Lucid Imagination Inc Obtains $6,000,000 Series A Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=513e861b-22e6-4027-8590-a346c5c50a46&Preview=1 Date 1/26/2009 Company Name Lucid Imagination Inc Mailing Address 32 Duncklee Inc Newton Highlands, MA 02461 Company Description Lucid ImaginationTM delivers support and services for the open source Apache Lucene search library and Apache Solr search server. We provide support contracts, training, consulting and value-add software. Website http://www.lucidimagination.com Transaction Type Venture … Continue reading “Lucid Imagination Inc Obtains $6,000,000 Series A Funding”