The recent downturn in the economy is having—and will continue to have—a significant impact on the ability of many companies to raise money and fund continued growth. This in turn will have significant ramifications on exit strategy. Luckily, for some at least, there are still potential buyers out there with sufficient cash to fund acquisitions. … Continue reading “Selling the Company? Get Your House In Order First”
Category: Boston
Boston-Area Mobile Investment Surged Past Half-Billion Mark in 2008
In most New England technology sectors, mid-2008 marked the start of a steep downward tumble in venture, IPO, and M&A activity. But not so for mobile technology. According to a report released today by Mobile Monday Boston, the local mobile industry boomed in 2008, with the total amount of money raised shooting past the $500 … Continue reading “Boston-Area Mobile Investment Surged Past Half-Billion Mark in 2008”
SimpleTuition Secures $6,000,000 Series C Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=fa00a381-565f-4273-af66-a4d9f3344fb6&Preview=1 Date 1/12/2009 Company Name SimpleTuition Mailing Address 255 Washington St., 3rd Floor Newton, MA 02458 Company Description SimpleTuition helps simplify the process for students to achieve higher education financing. Website http://www.simpletuition.com Transaction Type Venture Equity Transaction Amount $6,000,000 Transaction Round Series C Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms … Continue reading “SimpleTuition Secures $6,000,000 Series C Financing Round”
Black Duck Software Inc. Lands $3,000,000 Series D Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=3dde9938-65c5-471e-b5e2-eacddb87d0f1&Preview=1 Date 1/12/2009 Company Name Black Duck Software Inc. Mailing Address 265 Winter Street, North Entrance Waltham, MA 02451 Company Description Black Duck Software(TM) is the leading provider of automated software compliance management solutions that help companies govern how software assets are created, managed and licensed. Website http://www.blackducksoftware.com Transaction Type Venture Equity … Continue reading “Black Duck Software Inc. Lands $3,000,000 Series D Round”
FDA Panel Gives Blessing to First Drug Manufactured in Bioengineered Goats
The first drug ever manufactured in genetically-modified animals is likely coming soon to the U.S. market. A panel of expert advisers to the FDA said today that an experimental anti-clotting product developed by Framingham, MA-based GTC Biotherapeutics looks safe and effective enough to become a marketed product. The advisers essentially agreed with the conclusions reached … Continue reading “FDA Panel Gives Blessing to First Drug Manufactured in Bioengineered Goats”
Negotiation and Valuation
The words “negotiation” and “valuation” are well-known to any entrepreneur seeking funding. All too often, the entrepreneur’s lament in these downturn days seems to be ‘less of both.’ But there’s still a lot you can do, and a lot to learn. To that end, this session of The Capital Network urges, “Get your head out … Continue reading “Negotiation and Valuation”
Sequenom Makes Takeover Bid for MA-Based Exact Sciences, Targets Test for Colorectal Cancer
San Diego-based Sequenom is flexing some of its newfound muscle, by making a takeover bid for Marlborough, MA-based Exact Sciences while it is on the ropes. Sequenom (NASDAQ: [[ticker:SQNM]]) said today after markets closed it is offering $1.50 worth of its own stock in exchange for each share in Exact Sciences (NASDAQ: [[ticker:EXAS]]). That values … Continue reading “Sequenom Makes Takeover Bid for MA-Based Exact Sciences, Targets Test for Colorectal Cancer”
Understanding Angel Investing
Angel investors—near and dear to Xconomy’s heart, since we are funded by them—can be the lifeblood of a startup. The Capital Network and Babson College are offering this interactive breakfast session to look at the promise of angel investing for both technology and life sciences startups. You’ll hear from investors and entrepreneurs about the current … Continue reading “Understanding Angel Investing”
Building a Fundable Team
Teamwork is key to running a successful business, but it’s also key to getting one off the ground. This roundtable discussion, put on by The Capital Network (TCN), promises to “provide investors’ perspectives on this dilemma, along with a discussion of other team-related topics, such as: What is a founder’s role on the management team? … Continue reading “Building a Fundable Team”
nTag Enters Bankruptcy
Boston’s nTag Interactive, a maker of wearable, wireless electronic badges handed out to attendees at business conferences so that they can exchange contact information and vote in interactive polls, filed for bankruptcy in Boston federal court on December 26, according to a report today in the Boston Business Journal. The seven-year-old company, an MIT Media … Continue reading “nTag Enters Bankruptcy”
$35M+ for Kolltan Pharma
Yale University Medical School spinoff Kolltan Pharmaceuticals of New Haven, CT, announced that it has closed a Series A financing round worth over $35 million. Kolltan is developing cancer treatments based on the work of Yale’s Joseph Schlessinger, a cofounder and director of the startup and its chief scientist. The company also named Michael Schmertzler … Continue reading “$35M+ for Kolltan Pharma”
StreamBase Closes $6M Series D
StreamBase Systems, a Lexington, MA, startup whose “complex event processing” software helps business and government customers act on real-time streaming data, has closed a $6.24 million Series D funding round, according to a regulatory filing cited by Private Equity Hub. Existing investors Accel Partners, Bessemer Venture Partners, Highland Capital Partners, and In-Q-Tel were in on … Continue reading “StreamBase Closes $6M Series D”
$6M for SimpleTuition
SimpleTuition, a Newton, MA-based startup that helps students and their parents search for the best student loans, has closed a $6 million Series C funding round, according to Private Equity Hub, which cited a regulatory filing. Atlas Venture, Flybridge Capital Partners and North Hill Ventures were among the backers.
For Your Listening Pleasure, a Battle of the Tech Bands MP3 Preview
It seems like a good day for some music, so we thought we’d give you a little preview of the tunes you’ll hear at our rapidly approaching second annual Battle of the Tech Bands. (Tickets are going fast—get yours now.) So behold MP3s from four of the six bands that are readying themselves to rock … Continue reading “For Your Listening Pleasure, a Battle of the Tech Bands MP3 Preview”
Alnylam, Cubist Will Cooperate on RNAi Drug for Lung Infections
Cambridge, MA-based Alnylam Pharmaceuticals and Lexington, MA-based Cubist Pharmaceuticals announced a major deal today in which Cubist will pay Alnylam $20 million immediately, and up to $82.5 million in milestone-based payments down the road, in return for the right to market RNAi-based drugs that Alnylam is developing to treat the deadly respiratory syncytial virus, or … Continue reading “Alnylam, Cubist Will Cooperate on RNAi Drug for Lung Infections”
Renewable Energy Business Network Happy Hour
REBN-East and the Boston University Energy Club are cosponsoring this month’s networking event, which has an “Inaugural Ball” theme (though black ties are “very, very optional”). More information here.
Ditch That USB Cable: The Coolest Apps for Sending Your Photos Around Wirelessly
For average consumers, the big complaint about digital photography has always been that it’s too hard to extract the pictures you’ve taken from your camera or phone so you can show them to the rest of the world. But the truth is there are so many ways to move, share, and display digital photos today … Continue reading “Ditch That USB Cable: The Coolest Apps for Sending Your Photos Around Wirelessly”
Archemix Partners with GSK, EMC Acquires SourceLabs Assets, Satori Raises $22M to Take on Alzheimer’s, & More Boston-Area Deals News
New England tech and life sciences firms have cut many a deal since last we rounded up. Here are some of the most interesting ones. —Cambridge, MA-based Semprus Biosciences, a spinoff from the famed Langer Lab at MIT, closed an $8 million Series A round of venture capital co-led by 5AM Venture and Pangaea Ventures. … Continue reading “Archemix Partners with GSK, EMC Acquires SourceLabs Assets, Satori Raises $22M to Take on Alzheimer’s, & More Boston-Area Deals News”
FirstDocs Inc Garners New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=ad1f86bd-c45d-4fda-b88c-e0fc1e5de338&Preview=1 Date 1/9/2009 Company Name FirstDocs Inc Mailing Address 200 Lowder Brook Drive Westwood , MA 02090 Company Description Founded by a close community of experts in business law, business process automation, knowledge process outsourcing, document analysis technologies, and data security, FirstDocs delivers a spectrum of legal document automation and acceleration services … Continue reading “FirstDocs Inc Garners New Funding Round”
Kolltan Pharmaceuticals Inc Receives $35,000,000 Series A Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=52d34df6-d01d-4788-ac80-e87accbaf87c&Preview=1 Date 1/9/2009 Company Name Kolltan Pharmaceuticals Inc Mailing Address 50 Rock Hill Road Woodbridge, CT 06525 Company Description Kolltan is a development-stage company advancing therapeutics that target well-defined and validated molecular mechanisms of disease in areas of critical clinical need. Website Undisclosed Transaction Type Venture Equity Transaction Amount $35,000,000 Transaction Round … Continue reading “Kolltan Pharmaceuticals Inc Receives $35,000,000 Series A Financing”
StreamBase Systems, Inc. Garners $6,000,000 Series D Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=68ee7ee4-9698-472b-be68-702f06c4b115&Preview=1 Date 1/9/2009 Company Name StreamBase Systems, Inc. Mailing Address 181 Spring Street Lexington, MA 02421 Company Description StreamBase Systems, a leader in the fast-growing complex event processing (CEP) market, has pioneered a remarkable new approach to processing and analyzing real-time streaming data. Website http://www.streambase.com Transaction Type Venture Equity Transaction Amount $6,000,000 … Continue reading “StreamBase Systems, Inc. Garners $6,000,000 Series D Round”
Near Record Pace of Private Equity Fund-Raising Hit Wall in September
Fund-raising by private equity firms slowed dramatically during the last three months of 2008, so much so, in fact, that an analysis shows an 18 percent overall decline among fund-raising by U.S. firms compared to 2007—all of it due to the Q4 meltdown. An analysis published today in the Dow Jones Private Equity Analyst newsletter … Continue reading “Near Record Pace of Private Equity Fund-Raising Hit Wall in September”
A123 Asks for $1.8B in Federal Loans
Battery manufacturer A123 Systems of Watertown, MA, said yesterday that it has applied to the Department of Energy for $1.84 billion in federal loans under the department’s “green car” program. A123 says it wants to use the money to build a factory in southeastern Michigan that will manufacture lithium ion batteries for up to 5 … Continue reading “A123 Asks for $1.8B in Federal Loans”
Play Hard Sports Scores $8M B Round
Play Hard Sports, the Foxborough, MA-based online gaming startup founded last April by former Turbine CEO Jeffrey Anderson, has closed an $8 million Series B round, according to a report today in Private Equity Hub. Play Hard is developing as-yet-unreleased multiplayer online games and an online fantasy sports network. Existing investor New Enterprise Associates of … Continue reading “Play Hard Sports Scores $8M B Round”
Polaris Antes Up for JibJab’s Third Round
When I got an “ElfYourself” e-greeting from my brother’s family before Christmas 2007, I remember being surprised that the free greeting, though sponsored by OfficeMax, was actually powered by JibJab, the Venice, CA, Web startup that made its name during the 2004 presidential campaign with its irreverent “This Land” video.” The switch from animated parodies … Continue reading “Polaris Antes Up for JibJab’s Third Round”
Press Ganey Buys PatientFlow
Boston-based PatientFlow Technology, which makes software that helps hospitals deal with backups in emergency rooms, ICUs, and other care settings, has been acquired by health care improvement consulting company Press Ganey of South Bend, IN, according to an announcement today. The companies did not disclose the terms of the deal, but said that the acquisition … Continue reading “Press Ganey Buys PatientFlow”
Kauffman Foundation Entrepreneur Fellowship Program Launches in Boston and Silicon Valley
Right now there’s really only one great educational institution for those who want to learn how to be an entrepreneur, and it’s called the School of Hard Knocks. That isn’t to say there aren’t some wonderful classes and programs in entrepreneurship at places like MIT, Stanford, and other universities. But those are typically short-lived courses … Continue reading “Kauffman Foundation Entrepreneur Fellowship Program Launches in Boston and Silicon Valley”
Geocade Puts the Local Back into Mobile Gaming
Back in the days when you could play video games only at arcades or on home consoles, the game leader boards—showing the top scores—were, by definition, local. You had a finite group of competitors, and if you had enough time and enough quarters, you had a shot at getting on the board. But with the … Continue reading “Geocade Puts the Local Back into Mobile Gaming”
Spark Capital Heads List of Boston VCs Most Exposed to Web 2.0 Tailspin
Updated, Jan. 8, 8:40 am—see below: Everyone knows that when it comes to Internet investing, New England VCs are low flyers compared to their high-flying Silicon Valley counterparts—and a lot of folks around here are always asking why Boston investors can’t be more like the Web venture gurus out west. Well, turns out New England … Continue reading “Spark Capital Heads List of Boston VCs Most Exposed to Web 2.0 Tailspin”
Stopping Alzheimer’s Cold: Satori Raises $22M to Pursue Its Vision
Satori Pharmaceuticals has a dream of being the world’s first company to stop the progressive loss of memory and cognition caused by Alzheimer’s disease. Today, Cambridge, MA-based Satori will announce it has raised enough money to put its vision to the test, with $22 million in venture capital to develop drugs that halt the disease … Continue reading “Stopping Alzheimer’s Cold: Satori Raises $22M to Pursue Its Vision”
Play Hard Sports, Inc. Garners $5,000,000 Series A Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=68e39efb-6d8e-4b9d-abaf-29bf131f5180&Preview=1 Date 1/8/2009 Company Name Play Hard Sports, Inc. Mailing Address 16 Chestnut Street Foxboro, MA 02035 Company Description Play Hard Sports, Inc. (Play Hard) is the first casual sports network in North America focused exclusively on developing, publishing and distributing exceptional sports games and entertainment across the Internet. Play Hard is … Continue reading “Play Hard Sports, Inc. Garners $5,000,000 Series A Financing”
Satori Pharmaceuticals, Inc. Garners $22,000,000 Series B Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=a3eda3b6-367b-49f5-bff6-665723e398bd&Preview=1 Date 1/8/2009 Company Name Satori Pharmaceuticals, Inc. Mailing Address 222 Berkeley Street Boston, MA 02116 Company Description Satori Pharmaceuticals is a neuroscience company focused on the discovery and development of innovative disease-modifying therapies for Alzheimer’s disease, Parkinson’s disease and other neurodegenerative disorders. Website http://www.satoripharma.com Transaction Type Venture Equity Transaction Amount $22,000,000 … Continue reading “Satori Pharmaceuticals, Inc. Garners $22,000,000 Series B Financing Round”
OLPC Lays Off Half Its Staff—Refocusing Mission and Talking About the $0 Laptop
The One Laptop Per Child Foundation, the great dream of MIT Media Lab founder Nicholas Negroponte to bring low-cost, educational computing to children in the world’s developing nations and beyond, announced today a major layoff and refocusing of its mission. Only 32 staff will remain, about half the current number, according to Negroponte’s post on … Continue reading “OLPC Lays Off Half Its Staff—Refocusing Mission and Talking About the $0 Laptop”
EMC Cuts Put 2,400 Out of Work
EMC, the Hopkinton, MA-based data storage company that is one of the state’s largest tech employers, said today in an after-hours announcement that is cutting 2,400 people from its worldwide workforce. That’s a 7 percent reduction, based on the company’s size as of September 30. Though it expects to book record revenues of $4 billion … Continue reading “EMC Cuts Put 2,400 Out of Work”
Kronos Cuts 250 Workers
Workforce management company Kronos is reducing its own workforce. The Chelmsford, MA-based company has laid off 250 people worldwide, including 100 in Chelmsford, according to a report today in Mass High Tech. That’s about 8 percent of the company’s overall staff. We’ve updated the Boston Tech Layoff Tracker with this new data.
ClickSquared, RatePoint Close Series B Rounds
Two local Internet-based marketing companies disclosed news of Series B funding rounds this week. ClickSquared, based in Needham, MA, said in a release yesterday that it has closed an $11 million Series B round led by JMI Equity, ABS Venture, and Flybridge Capital Partners. The company offers a software-as-a-service system that clients can use to … Continue reading “ClickSquared, RatePoint Close Series B Rounds”
Highland’s Blossomless Bet on Blue Tulip—Retailer Seeks Bankruptcy Protection
Highland Capital Partners is feeling the pinch of the reeling retail market. The Lexington, MA, venture fund has a 44-percent ownership stake in Blue Tulip, a New York-based chain of specialty gift shops that has filed for bankruptcy protection and plans liquidation sales at its 24 stores, according to a PE Hub report. Highland’s share … Continue reading “Highland’s Blossomless Bet on Blue Tulip—Retailer Seeks Bankruptcy Protection”
Drug Manufacturing in Bioengineered Goats: FDA Says It Looks Safe
Would you take a drug made from the milk of a genetically modified goat? A committee of expert advisers to the FDA will take a swing at that question, weighing the safety and effectiveness of such a treatment on Friday. The U.S. drug regulator is seeking advice on whether to approve an application from Framingham, … Continue reading “Drug Manufacturing in Bioengineered Goats: FDA Says It Looks Safe”
The Lowdown on Angel Capital from CommonAngels’ James Geshwiler
For startup entrepreneurs who need less than $5 million in capital, the venture capital industry might as well not exist. The average U.S. venture capital fund has doubled in size since 2000 to over $200 million, according to Dow Jones/VentureOne. That means most venture partners see investments of under $5 million as a waste of … Continue reading “The Lowdown on Angel Capital from CommonAngels’ James Geshwiler”
Forma Emerges With Well-Formed Cancer-Drug Strategy, Biogen Idec Preps for Parkinson’s Drug Data, Endo Buys out Indevus, & More Boston-Area Life Sciences News
We’ve got some M&A activity, some board-room drama, and some cool new companies and drug-development strategies–the year’s off to an interesting start for New England’s life sciences firms. —Forma Therapeutics, flush with $25 million from the likes of the Novartis Option Fund and Singapore’s Bio*One Capital, emerged from stealth mode to unveil its strategy for … Continue reading “Forma Emerges With Well-Formed Cancer-Drug Strategy, Biogen Idec Preps for Parkinson’s Drug Data, Endo Buys out Indevus, & More Boston-Area Life Sciences News”
RatePoint Lands $10,000,000 Series B Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=ea3f3eeb-1a34-4fd6-bcf1-1a61739687a5&Preview=1 Date 1/7/2009 Company Name RatePoint Mailing Address 100 Crescent Road Needham, MA 02494 Company Description With your active participation, we are: …creating the first personalized social rating service …providing you with valuable information that matches your likes and dislikes …helping you connect with like-minded people …allowing you to take control and … Continue reading “RatePoint Lands $10,000,000 Series B Financing”
ClickSquared Inc Obtains $11,000,000 Series B Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d6bc8043-dc12-4735-be7d-991ff1c70d1b&Preview=1 Date 1/7/2009 Company Name ClickSquared Inc Mailing Address 200 West Street 3rd Floor East Waltham, MA 02451 Company Description ClickSquared is the premier real time relationship marketing services provider of intelligent, multi-channel marketing solutions creating perfectly timed, personalized interactions across all online and off-line direct channels. Leveraging a team of marketing … Continue reading “ClickSquared Inc Obtains $11,000,000 Series B Financing Round”
Forma Therapeutics, Inc. Receives $25,000,000 Series A Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=e2accd11-cb2d-4ed7-ad76-e41646743270&Preview=1 Date 1/7/2009 Company Name Forma Therapeutics, Inc. Mailing Address 50 Rowes Wharf, 3rd Floor Boston, MA 02110 Company Description The company develops therapeutic agents through the use of novel chemistry. Website Undisclosed Transaction Type Venture Equity Transaction Amount $25,000,000 Transaction Round Series A Proceeds Purposes Proceeds purposes were not disclosed. M&A … Continue reading “Forma Therapeutics, Inc. Receives $25,000,000 Series A Financing”
Mobile Monday Boston
The next Mobile Monday Boston event, “Compelling Mobile Business Models,” will take place on Monday, January 12, at the Langham Hotel in Boston. Speakers from early, mid- and late-stage Boston-area mobile companies will discuss their organizations’ current business models, how those model have evolved over time, and the impact of the current economic climate. Free … Continue reading “Mobile Monday Boston”
Molecular Insight Pharma Director Barlow Resigns Over Rift with Board
The former CEO and chairman of Molecular Insight Pharmaceuticals (NASDAQ:[[ticker:MIPI]]), David Barlow, resigned from the firm’s board of directors last week over differences with fellow directors, according to a press release from the Cambridge, MA-based company. The exact nature of those differences is unclear, but Barlow alluded to “significant and sustained disagreements…regarding business philosophy, strategy … Continue reading “Molecular Insight Pharma Director Barlow Resigns Over Rift with Board”
Premise Sold to Eclipsys
Healthcare software firm Eclipsys reports it has completed its buyout of Farmington, CT-based Premise, a provider of patient-tracking software for hospitals. Last week Atlanta-based Eclipsys (NASDAQ:[[ticker:ECLP]]) said it would pay $38.5 million in cash to acquire venture-backed Premise.
BSX Buys Irish Stent Firm
Boston Scientific (NYSE:[[ticker:BSX]]), the Natick, MA-based medical devices giant, reports that it has acquired drug-eluting stent developer Labcoat, headquartered in Galway, Ireland. Labcoat has developed technology to produce ultra-thin coatings of biodegradable polymers and drugs on the outer surface of coronary stents, which are designed to prop open arteries after surgeries to remove plaques. Financial … Continue reading “BSX Buys Irish Stent Firm”
Broad Institute Scientists’ Forma Therapeutics Raises $25M, Aims to Knock Out Underpinnings of Cancer
Forma Therapeutics, a startup company co-founded by scientists at the Broad Institute of Harvard and MIT, has raised $25 million to create drugs that build on research that has yielded clues about the root genetic causes of what makes a cell turn cancerous. Forma, based in Cambridge, MA, was formed 2007 to generate drug compounds … Continue reading “Broad Institute Scientists’ Forma Therapeutics Raises $25M, Aims to Knock Out Underpinnings of Cancer”
Cleantech Engine Revved In ’08—Deals to Remember
These are the salad days for the Boston area’s developers of alternative energy and clean technologies. Such firms had no problem landing big deals with corporate partners, governments, and investors in 2008. At the risk of sounding whimsical, the standout cleantech deals in 2008 provoked thoughts of a not-so-distant future when, for example, advanced batteries … Continue reading “Cleantech Engine Revved In ’08—Deals to Remember”
The Bright Side of Nuclear Winter: Opportunities in the New, New Economy
During the Internet revolution of the late ’90s, a well-known investor at a “Keiretsu Forum” boldly proclaimed that the division of the Internet landscape was akin to the great land grab of the 19th century. “In two years it will all be over,” he predicted. He was right, but for precisely the wrong reason. Two … Continue reading “The Bright Side of Nuclear Winter: Opportunities in the New, New Economy”