If you’re like me, you’re to the point where you can’t focus for more than two sentences without pausing to check FiveThirtyEight.com and Intrade, so I kept the roundup of Boston-area deals short this week. —Battery Ventures of Waltham, MA, led a $17 million Series B round for Sunnyvale, CA-based ZeroG Wireless, a developer of … Continue reading “Brightcove Bonds With AOL, Faces Competition With Akamai; Fidelity Backs EnVivo; Dyax to Sell Up To $50M in Stock; & More Boston-Area Deals News”
Category: Boston
Vertex Drug for Hepatitis C Shows Durable Virus-Killing Ability in Tough-to-Treat Patients
More data is rolling in from Vertex Pharmaceuticals on its lead drug for hepatitis C, and it looks like the medicine is continuing to live up to its own high expectations. The Cambridge, MA-based company said today that telaprevir’s effect on killing the virus is remaining durable on follow-up analysis, and the drug appears to … Continue reading “Vertex Drug for Hepatitis C Shows Durable Virus-Killing Ability in Tough-to-Treat Patients”
Fidelity Biosciences Pumps $65M into EnVivo Pharma
Fidelity Biosciences has invested $65 million in EnVivo Pharmaceuticals, a Watertown, MA-based developer of drugs for Alzheimer’s and schizophrenia, in a Series D venture financing round, according to this report on Fierce Biotech from Dow Jones VentureWire. The Boston-based fund bought out all of the company’s other investors, including BCM Technologies, Cogene Ventures, and NeuroVentures … Continue reading “Fidelity Biosciences Pumps $65M into EnVivo Pharma”
Democratic Party Fundraiser Dies, After Friends and Family Pushed To Get Him Tysabri
Fred Baron, the prominent Democratic Party fundraiser, died Thursday after a high-profile effort to obtain Biogen Idec and Elan’s natalizumab (Tysabri) to save his life from an aggressive cancer, according to this report from the Associated Press. Baron, 61, received help more than two weeks ago from a group of friends including former President Bill … Continue reading “Democratic Party Fundraiser Dies, After Friends and Family Pushed To Get Him Tysabri”
Novartis Option Fund Managing Director Says First Responsibility is to Portfolio Companies, Dislikes “Corporate VC” Moniker
Don’t be confused by the name of the Novartis Option Fund. The fund’s purpose isn’t to gain options in companies for Swiss drug giant Novartis to later acquire, says Lauren Silverman, the fund’s managing director. And it isn’t a traditional corporate VC firm that operates as an extension of the parent company. Rather, Silverman prefers … Continue reading “Novartis Option Fund Managing Director Says First Responsibility is to Portfolio Companies, Dislikes “Corporate VC” Moniker”
Ceregene Awaits Parkinson’s Trial Results, In a Key Test for Gene Therapy
A critical turning point is coming for Ceregene by the end of the year. The San Diego-based biotech company expects to get results in the next couple months on whether its experimental gene therapy can effectively help treat Parkinson’s disease. I got the overview of what this is all about a few weeks ago during … Continue reading “Ceregene Awaits Parkinson’s Trial Results, In a Key Test for Gene Therapy”
In Google Book Search Settlement, Readers Lose
The biggest development in the digital media world this week, by far, was the settlement of a pair of class-action copyright-infringement lawsuits brought against Google in 2005 by the Authors Guild, the Association of American Publishers, and several publishing houses. The compromise agreement, which was announced October 28 and now awaits approval by the federal … Continue reading “In Google Book Search Settlement, Readers Lose”
EnVivo Pharmaceuticals, Inc. Garners $65,000,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=2a76d669-2356-44a2-8d5e-098484c2bbec&Preview=1 Date 10/31/2008 Company Name EnVivo Pharmaceuticals, Inc. Mailing Address 480 Arsenal Street, Building 1 Watertown, MA 02472 Company Description EnVivo is a biopharmaceutical company dedicated to discovering and developing drugs for central nervous system (CNS) disorders. CNS disorders account for more hospitalizations, long-term care, and chronic suffering than nearly all other … Continue reading “EnVivo Pharmaceuticals, Inc. Garners $65,000,000 New Financing Round”
Xtalic Corporation Lands $10,000,000 Series B Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=772e6d91-56b4-4b8f-a079-9a724c18398d&Preview=1 Date 10/31/2008 Company Name Xtalic Corporation Mailing Address 260 Cedar Hill Street Marlborough, MA 01752 Company Description Xtalic is focused on providing new nanostructured alloys for use in the hard metal coatings industry. Our new technology allows us to precisely tailor the properties of metallic coatings by controlling their structure at … Continue reading “Xtalic Corporation Lands $10,000,000 Series B Funding”
Boston-Power Expands Lithium Ion R&D Lab, Sets Eyes on Batteries for Transportation
Boston-Power, which makes advanced lithium-ion battery packs for notebook computers, is planning a ribbon-cutting ceremony today for its newly expanded research and development facilities in Westborough, MA. I caught up with CEO Christina Lampe-Onnerud by phone this morning as she prepared for the event, where a number of local business leaders and state officials plan … Continue reading “Boston-Power Expands Lithium Ion R&D Lab, Sets Eyes on Batteries for Transportation”
Dyax Lands Deal to Raise $50M
Dyax (NASDAQ:[[ticker:DYAX]]), a Cambridge, MA-based biotech firm, and investment fund Azimuth Opportunity have struck a deal under which Dyax may sell up to $50 million of its common stock to Azimuth over an 18-month period, Dyax reports. Dyax CFO George Migausky stated that the agreement, which does not obligate Dyax to sell any shares to … Continue reading “Dyax Lands Deal to Raise $50M”
Can The Echo Nest Stay Aloft in the Turbulent Music-Recommendation Industry?
As I walked through a windy, chilly Somerville on my way to visit music-discovery startup The Echo Nest yesterday, last weekend’s sudden shutdown at Matchmine weighed on my mind. After all, The Echo Nest is in the same general business as the now-defunct Needham, MA, company: building software that helps digital media companies provide Web … Continue reading “Can The Echo Nest Stay Aloft in the Turbulent Music-Recommendation Industry?”
Alnara Pharmaceuticals Aims to Make Biotech Drugs You Can Swallow, And That Go Right Where They Belong
Despite all the red ink in investors’ portfolios, there is still venture money out there for big ideas. Boston-based Alnara Pharmaceuticals has snapped up $20 million in a first-round financing to support a novel, untested concept. The company wants to show it can develop biotech drugs that can be given in an oral pill, and … Continue reading “Alnara Pharmaceuticals Aims to Make Biotech Drugs You Can Swallow, And That Go Right Where They Belong”
Buy-Side Experts See Major Changes Afoot for Biotech Amid Financial Crisis
Unless there are more than seven figures in your personal net worth or you happen to manage a pension fund or the like, there are few chances to glean information from hedge fund managers and other buy-side experts who play the high-risk game of biotech investing. Yet last week one of those rare opportunities presented … Continue reading “Buy-Side Experts See Major Changes Afoot for Biotech Amid Financial Crisis”
Sourcing the Right Crowd
Commercialization is rarely a solitary pursuit; bringing an idea to the world requires a set of diverse skills and knowledge, a proverbial commercialization village. Or a crowd. Enter the power of crowdsourcing. Crowdsourcing refers to aggregating a large number of people to express their opinions or ideas about specific topics—and the term first appeared in … Continue reading “Sourcing the Right Crowd”
Alnara Pharmaceuticals Inc Obtains $20,000,000 Series A Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f73e5a0f-536f-4a0d-9ef0-9c66d2a3c3c8&Preview=1 Date 10/30/2008 Company Name Alnara Pharmaceuticals Inc Mailing Address 800 Boylston Street Boston, MA 02199 Company Description Alnara Pharmaceuticals Inc is a pharmaceutical company developing innovative non-systemic protein therapeutics for the treatment of metabolic and inflammatory diseases. Website http://www.alnara.com Transaction Type Venture Equity Transaction Amount $20,000,000 Transaction Round Series A Proceeds … Continue reading “Alnara Pharmaceuticals Inc Obtains $20,000,000 Series A Round”
P&H Therapeutics Inc Receives $500,000 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=50fccf7b-ce83-46b1-899b-b4f2440d6f5a&Preview=1 Date 10/30/2008 Company Name P&H Therapeutics Inc Mailing Address Undisclosed Providence, RI 02900 Company Description P&H Therapeutics Inc is a company developing next-generation drugs to treat hypertension and dyslipidemia. Website Undisclosed Transaction Type Venture Equity Transaction Amount $500,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture … Continue reading “P&H Therapeutics Inc Receives $500,000 New Funding”
Biogen Idec, Elan’s Tysabri Linked to First U.S. Case of Brain Infection
Tysabri has been linked to its first U.S. case of an often-deadly brain infection since it was re-introduced to the domestic market two years ago. Cambridge, MA-based Biogen Idec (NASDAQ: [[ticker:BIIB]]) and its partner Elan said today they have notified regulators that a rare brain infection called PML has been diagnosed in a patient with … Continue reading “Biogen Idec, Elan’s Tysabri Linked to First U.S. Case of Brain Infection”
Vlingo Upgrades Blackberry App
Cambridge, MA, startup Vlingo today launched a drastically improved version of its voice command and speech-to-text interface for RIM Blackberry smartphones, first released in June. The free vlingo 2.0 software, which works on Blackberry Pearl, Curve, and 8800 series phones, not only allows users to compose text messages and e-mails by speaking into their phones, … Continue reading “Vlingo Upgrades Blackberry App”
Italy-US Bio Nano Business Forum 2008
The Italian Trade Commission is sponsoring this full-day forum to promote partnership and to foster relationships between the Italian and U.S. biotech and nanotech communities. Topics include biosafety bssues in a globalized world, jumpstarting biotechnology/nanotechnology development, and emerging approaches to cancer detection, development, and therapy. Check out the complete agenda at forum registration web site.
California Biotech Execs Fear Ban on Same-Sex Marriages Could Give Edge to Bay State
Opponents of a state ballot initiative to ban same-sex marriages in California have found new allies: local biotech executives, who fear that passage of Proposition 8 could send workers in their industry to Massachusetts, according to a story in today’s San Diego Union-Tribune. This perhaps makes Proposition 8 the latest front in the battle between … Continue reading “California Biotech Execs Fear Ban on Same-Sex Marriages Could Give Edge to Bay State”
Vertex Gears up for Big Liver Disease Conference
Vertex Pharmaceuticals is preparing to unveil some long-awaited data that will show just how well its drug is performing for some of toughest-to-treat hepatitis C patients. I spoke with Vertex’s chief commercial officer, Kurt Graves, to do some pre-game reporting for the American Association for the Study of Liver Disease’s annual meeting October 31 through … Continue reading “Vertex Gears up for Big Liver Disease Conference”
Roam the Web with Your Weblin Avatar
Allegedly, surfing the Web is a leisure activity for a growing number of people. I wouldn’t know—my job as a technology blogger obliges me to surf the Web all day at work, so if I have to use the Web from home, it’s usually because I’m taking care of some task like paying bills, uploading … Continue reading “Roam the Web with Your Weblin Avatar”
Sirtris Shifts Focus From Resveratrol, Merck Shifts People From Seattle to Boston, Epix Shifts Into Cost-Saving Mode, & More Boston-Area Life Sciences News
Boston-area life sciences firms were awfully busy last week, particularly the public ones—and it wasn’t even all bad news. —New York-based Antigenics (NASDAQ: [[ticker:AGEN]]), whose operations are based mainly in Lexington, MA, announced that it’s seeking European approval for its vaccine-based treatment for kidney cancer, vitespen (Oncophage). The treatment is so far only approved in … Continue reading “Sirtris Shifts Focus From Resveratrol, Merck Shifts People From Seattle to Boston, Epix Shifts Into Cost-Saving Mode, & More Boston-Area Life Sciences News”
Salient Surgical Lands $17,900,000 Series F Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=5d691c02-1cf6-46bf-ba09-22782dede6a3&Preview=1 Date 10/29/2008 Company Name Salient Surgical Mailing Address One Washington Center Dover, NH 03820 Company Description TissueLink Medical provides devices that reduce surgical blood loss. Utilizing TissueLink’s saline-enhanced radio-frequency technology allows surgeons to control bleeding and improve patient outcomes. Website http://www.salientsurgical.com/index.htm Transaction Type Venture Equity Transaction Amount $17,900,000 Transaction Round Series … Continue reading “Salient Surgical Lands $17,900,000 Series F Financing”
Helium Receives $17,000,000 Series A Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b997f90d-7d9a-4859-afb3-350b30717bfe&Preview=1 Date 10/29/2008 Company Name Helium Mailing Address 300 Brickstone Square Andover, MA 01810 Company Description Helium is the online destination to learn what you need and share what you know. Helium goes beyond search, bringing together real advice from real people on a wide variety of topics. Helium combines citizen journalism … Continue reading “Helium Receives $17,000,000 Series A Funding Round”
RockPort Capital Adds General Partner
RockPort Capital Partners, a cleantech-focused venture firm with offices in Boston and Menlo Park, CA, reports that Victor Westerlind has joined the firm as a general partner. Westerlind, who will be based in the firm’s Menlo Park office, was most recently a partner at InterWest Partners, which also has an office in Menlo Park.
HC Ventures Leads $28M Round for InfaCare
HealthCare Ventures, a Cambridge, MA-based venture firm, has led a $28 million Series B round of financing for InfaCare Pharmaceueticals, of Trevose, PA, which is developing an experimental drug intended to prevent newborns from developing a blood condition linked to neurological problems, the company announced. Other backers in the round included repeat investor Atlas Venture, … Continue reading “HC Ventures Leads $28M Round for InfaCare”
Microsoft, Akamai Partner on “Smooth HD” Video; Alternative to Brightcove
So, are Akamai and Brightcove—digital media companies located just a block apart in Cambridge’s Kendall Square—partners, rivals, or both? The confusion grew today as Akamai said in a joint announcement with Microsoft that it will supply the network infrastructure behind a new “adaptive” system that streams high-definition video over the Internet at varying resolutions depending … Continue reading “Microsoft, Akamai Partner on “Smooth HD” Video; Alternative to Brightcove”
Brightcove Snags AOL, NYT
Cambridge, MA-based Brightcove, which rolled out a massively overhauled version of its video hosting service just two weeks ago, announced today that AOL will manage all of its online video using the new Brightcove 3 platform starting in early 2009. It was the second big customer win in as many weeks—last week the New York … Continue reading “Brightcove Snags AOL, NYT”
Clinical Data Buys Avalon Pharma for $10M
Clinical Data (NASDAQ:[[ticker:CLDA]]), a Newton, MA-based biotech firm, announced today that it has acquired Avalon Pharmaceuticals (NASDAQ:[[ticker:AVRX]]), headquartered in Germantown, MD, in an all-stock deal valued at $10 million. Avalon provides Clinical Data with its pipeline of cancer biomarkers and therapeutics as well as its discovery technology to rapidly identify biomarkers for the development of … Continue reading “Clinical Data Buys Avalon Pharma for $10M”
Matchmine CEO Comments on Shutdown—Company Was “Collateral Damage” of Financial Crisis
After publishing my report last night about the death of Needham, MA-based Matchmine, I wrote to CEO Mike Troiano, whom I’ve interviewed a couple of times over the past year, seeking his comments about the sudden shutdown, which he announced yesterday in the company’s blog. Troiano wrote back this morning. He explains that Matchmine—which had … Continue reading “Matchmine CEO Comments on Shutdown—Company Was “Collateral Damage” of Financial Crisis”
Fairhaven Capital Raises $250 Million for Early-Stage Technologies and Theme-Driven Investing Philosophy
Fairhaven Capital Partners announced today that it has closed its second investing fund—and its first since TD Capital spun out the firm in June 2007. Known for their earlier investments in companies with successful exits, including Third Screen Media, Softricity, and EqualLogic, the seven partners at Cambridge, MA-based Fairhaven say they’ll use the $250 million … Continue reading “Fairhaven Capital Raises $250 Million for Early-Stage Technologies and Theme-Driven Investing Philosophy”
Biosphere Medical Gains Momentum With Fibroid Treatment After Years of Wait-and-See
More than a half-million women every year get a treatment for uterine fibroids, or benign tumors in the uterus. Most of the time they get the same thing they would have gotten in the 1970s—a hysterectomy to remove the whole uterus, or a myomectomy to surgically remove the fibroid growth. Biosphere Medical, a Rockland, MA-based … Continue reading “Biosphere Medical Gains Momentum With Fibroid Treatment After Years of Wait-and-See”
VBrick Systems, Inc. Secures $11,900,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=53214a2a-5b8b-4ccd-9eaf-e8055020cbd3&Preview=1 Date 10/28/2008 Company Name VBrick Systems, Inc. Mailing Address 12 Beaumont Road Wallingford, CT 06492 Company Description Since our founding, VBrick has been setting the standard for quality, performance, and innovation in the delivery of live and stored video over IP networks – LANs, WANs, and the Internet. With over 20,000 … Continue reading “VBrick Systems, Inc. Secures $11,900,000 New Financing Round”
Xconomy Forum: Energy Innovation **SOLD OUT**
Energy innovation and entrepreneurship have traditionally been hampered by everything from the field’s complexity to its huge infrastructure costs. Today’s groundswell of attention and investment-from both private and government sources-may be changing the odds of success for energy innovation. But is it enough to bring us closer to the ultimate goal of energy independence and … Continue reading “Xconomy Forum: Energy Innovation **SOLD OUT**”
Helium Raises $17M, Fires 18
Helium, the Andover, MA-based online marketplace for writers, recently finished raising a $17 million Series A financing round and almost simultaneously cut its staff by 18 people, or about 30 percent, according to a story today in TechCrunch. The company, where freelance writers can submit articles, vote for the best material uploaded by other writers, … Continue reading “Helium Raises $17M, Fires 18”
Matchmine Flames Out Suddenly
[10:00 a.m. 10/28/08: Update and clarification included below.] In an entry cross-posted on the company blog and his personal blog this afternoon, Mike Troiano, CEO of Needham, MA-based recommendation technology startup Matchmine, said the company is shutting down, effective immediately. The failure of the company, which raised $10 million in venture financing just last year, … Continue reading “Matchmine Flames Out Suddenly”
Venture Returns Beat the Markets Through Q2—But Got Nowhere to Go But Down
The National Venture Capital Association usually prefers to track VC performance over a decade-long period, or possibly a five-year span. That’s because measuring performance over a one-year period, say, usually isn’t as useful since investment returns gyrate all over the place in the short term, according to Emily Mendell, the NVCA’s vice president for strategic … Continue reading “Venture Returns Beat the Markets Through Q2—But Got Nowhere to Go But Down”
Neuroscience Drug Discovery and Development: The Route to Disease-Modifying Therapies
The MIT Enterprise Forum of Cambridge hosts a discussion on drug discovery in neuropharmacology. From the event website: “Disorders of the brain, including neurodegenerative diseases such as Alzheimer’s and Parkinson’s disease and psychiatric diseases such as schizophrenia and depression, pose some of the hardest challenges for the biopharmaceutical industry. The disease burden from brain disorders … Continue reading “Neuroscience Drug Discovery and Development: The Route to Disease-Modifying Therapies”
The Rise of Advertising Networks: Aggregating & Selling Audiences
The MIT Enterprise Forum of Cambridge sponsors a panel discussion on Web-based advertising. From the event site: “The Web is becoming increasingly distributed across proliferating publishers, leaving advertisers with the challenge of reaching a fragmented audience. Enter the advertising networks, which have recently re-emerged to take a growing portion of these online ad dollars. Join … Continue reading “The Rise of Advertising Networks: Aggregating & Selling Audiences”
Eons’ Jeff Taylor at the Vilna Shul
The Speaker Series at Vilna Shul Boston’s Center for Jewish Culture features a “fireside chat” with Jeff Taylor, CEO of Boston-based social networking site Eons (profiled here). More information here.
Mass High Tech All-Star Awards
Mass High Tech, published by American City Business Journals, honors its 2008 All-Stars, “influential and dynamic leaders from across New England’s innovation economy.” This year’s all-star pics include: Telecom: Justin Aborn, Chief Scientist, General Compression Education: Abigail A. Barrow, Director MA Technology Transfer Center, University of Massachusetts Social Media: Chris Brogan, VP Strategy & Technology, … Continue reading “Mass High Tech All-Star Awards”
The Building Blocks of Social Media
MITX hosts a morning panel discussion on marketing technology in the social media age. From the event web page: “Social networking and community-driven web initiatives continue to be a top priority for organizations looking to engage customers and prospects online. The technology that drives these initiatives is rapidly evolving, creating a dizzying array of options … Continue reading “The Building Blocks of Social Media”
Battery Leads $17M ZeroG Round
Waltham, MA-based Battery Ventures is the lead funder in a $17 million Series B round for ZeroG Wireless, a Sunnyvale, CA-based developing low-power Wi-Fi chips, the company announced today. Existing investors Morgenthaler Ventures, which has offices in Boston, and Greylock Partners, which has offices in Waltham, also joined the round. Though ZeroG has not announced … Continue reading “Battery Leads $17M ZeroG Round”
At Employee Fair, EMC Calls for Innovation from the Bottom Up
How does a giant company like EMC build an image as an innovator when it employs only a handful of full-time researchers, has a reputation for acquiring rather than inventing new technologies, and sells some of the unsexiest boxes in the IT back room—file servers, disk arrays, and other backup systems that, if they’re working … Continue reading “At Employee Fair, EMC Calls for Innovation from the Bottom Up”
Akamai Acquires Acerno, Archemix Adds Eli Lilly to Partner List, Sermo Signs Up Bloomberg Subscribers, & More Boston-Area Deals News
The deals news from Boston-area firms last week was dominated by the life sciences companies. —Archemix of Cambridge, MA, inked a deal giving drug giant Eli Lilly (NYSE:[[ticker:LLY]]) options to apply its “aptamer”-based drug technology to up to two disease targets. The agreement, financial terms of which were not disclosed, follows similar ones that Archemix … Continue reading “Akamai Acquires Acerno, Archemix Adds Eli Lilly to Partner List, Sermo Signs Up Bloomberg Subscribers, & More Boston-Area Deals News”
MTLC Awards Give Nods to Cleantech, Gaming, and Inkless Printing
The Mass Technology Leadership Council gave nods to cleantech and gaming investors, inkless printing technology, and Web innovators with its 2008 Mass Technology Leadership Awards, according to the industry group. Over the last year or so, Xconomy has written stories that capture many of these award-winning accomplishments. Here’s a complete list of this year’s winners … Continue reading “MTLC Awards Give Nods to Cleantech, Gaming, and Inkless Printing”
The Encyclopedia of Life: Can You Build A Wikipedia for Biology Without the Weirdos, Windbags, and Whoppers?
After 16 months in business, Xconomy has published about 3,400 pages of articles. At this pace, we’ll get to 1.8 million pages in about 700 years. But the Encyclopedia of Life—a new scientific and educational website that will have one page for every species on the planet—intends to hit that number in just 10 years. … Continue reading “The Encyclopedia of Life: Can You Build A Wikipedia for Biology Without the Weirdos, Windbags, and Whoppers?”
Mersana Raises $4M in Note Placement
Mersana Therapeutics has completed a convertible note placement worth $4 million, officials of the Cambridge, MA-based cancer drug developer told Mass High Tech. The new funding brings Mersana’s total private investment raised to date to about $36 million, according to Mass High Tech; Fidelity Biosciences, Harris & Harris Group, PureTech Ventures, ProQuest Investments, and Rho … Continue reading “Mersana Raises $4M in Note Placement”