We’re not a particularly weight-conscious crew, but we at Xconomy have been noticing lately that the ranks of Boston-area firms focusing on obesity seem to be, well, growing. (See page two for our list of such companies.) Last month, for example, I profiled Lexington, MA-based GI Dynamics, which has reported progress in clinical trials with … Continue reading “The Boston-Area Obesity Treatment Cluster: Are Flood Gates Opening for Weight-Loss Drugs and Devices?”
Category: Boston
MyPunchbowl Reinvents Online Party Invitations
Everyone has a neighbor or a relative who loves to throw parties—you know, the people who make their Halloween or Christmas extravaganza bigger every year, with more lights, lawn ornaments, costumes, and food. The folks at Punchbowl Software are a lot like that: they keep overhauling their Web 2.0 party-planning website MyPunchbowl, making it fancier … Continue reading “MyPunchbowl Reinvents Online Party Invitations”
CollegeWikis Funded by Two New England Groups
The eCoast Angel Network of Portsmouth, NH, and Boston Harbor Angels of Boston are among the participants in a $2 million funding round announced today for CollegeWikis. The New York-based startup, which provides e-mail lists and group-editable wikis for student-based organizations (and bears a passing resemblance to Cambridge, MA-based Wiggio), also attracted investments from HighBAR … Continue reading “CollegeWikis Funded by Two New England Groups”
Private Equity Funds Raised in New England—The Third Quarter List
Earlier today, we reported on national private equity fundraising trends through the year’s first three quarters—trends that put the U.S. on a pace to surpass last year’s record total of $313 billion raised. We were finally able to track down the list of New England funds raised (some are still open, so the figures could … Continue reading “Private Equity Funds Raised in New England—The Third Quarter List”
BSX Appeal Denied by U.S. Supreme Court
It appears that Natick, MA-based Boston Scientific (NYSE: [[ticker:BSX]]) will be forced to pay medical products giant Johnson & Johnson the full $703 million patent-infringement award finalized last week by the U.S. District Court of Delaware, after the U.S. Supreme Court declined yesterday to hear the company’s appeal of the case. Johnson & Johnson claimed … Continue reading “BSX Appeal Denied by U.S. Supreme Court”
U.S. Private Equity Firms On Pace For Record Fundraising Year through Q3: But Does Anyone Think It Will Last?
Last week I wrote a story about Highland Capital Partners’ all-out 20th anniversary bash here in Boston entitled, What Financial Crisis? The same title might be fitting for a piece about the data on private equity fundraising that was released today. Buoyed by a strong third quarter, private equity firms—including venture firms like Highland—are on … Continue reading “U.S. Private Equity Firms On Pace For Record Fundraising Year through Q3: But Does Anyone Think It Will Last?”
Alnylam Gets $20M From Takeda
Alnylam Pharmaceuticals said today it has earned a $20 million milestone payment from Japan-based Takeda Pharmaceutical as part of the collaboration formed between the companies in May. The money is for transferring documents, materials, and know-how to Takeda for developing RNA interference-based drugs. Alnylam (NASDAQ: [[ticker:ALNY]]) has already received a $100 million upfront payment from … Continue reading “Alnylam Gets $20M From Takeda”
Harvard Banks Record $125M Donation for New “Biologically Inspired Engineering” Institute
Harvard University has received a gift of $125 million from billionaire philanthropist Hansjörg Wyss to support the formation of a new research institute for biological engineering, The Harvard Crimson reports. The Crimson called the gift the largest in Harvard’s history, topping what had been a record donation of $100 million in April from David Rockefeller … Continue reading “Harvard Banks Record $125M Donation for New “Biologically Inspired Engineering” Institute”
Clarus Leads $60M Biolex Deal
Cambridge, MA-based Clarus Ventures led a $60 million Series D financing for Biolex Therapeutics, according to an announcement from the Pittsboro, NC-based startup. The deal was joined by new investor OrbiMed Advisors and existing investors including Intersouth Partners, Quaker BioVentures, Johnson & Johnson Development Corporation, Investor Growth Capital, Polaris Ventures, Mitsui & Company, The Dow … Continue reading “Clarus Leads $60M Biolex Deal”
MPM Capital, World’s Biggest Healthcare VC Fund, Balances Startups With Stocks
MPM Capital has grown into such a colossal healthcare venture fund, it makes people who follow the industry (like me) wonder whether it can stay true to its roots. The fund, with $2.5 billion under management, has a tradition of making seed-stage bets in startup biotech companies, including winners like Cambridge, MA-based Idenix (NASDAQ: [[ticker:IDIX]]). … Continue reading “MPM Capital, World’s Biggest Healthcare VC Fund, Balances Startups With Stocks”
Mozy Launches Business Version of Mac Backup Service
Back in May I wrote about the release of MozyHome for Mac, an Apple-compatible version of the Mozy online backup service that Berkeley Data Systems launched for Windows users in 2006. Between them, Mozy (which became part of Hopkinton, MA-based EMC last fall) and Boston-based Carbonite dominate the market for online backup—but for the moment, … Continue reading “Mozy Launches Business Version of Mac Backup Service”
College Wiki Secures $2,000,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d3453446-77a1-465a-a4da-9a880818bbae&Preview=1 Date 10/7/2008 Company Name College Wiki Mailing Address Undisclosed Westport, CT 06880 Company Description The company operates as a Wiki dedicated to a particular college. Website Undisclosed Transaction Type Venture Equity Transaction Amount $2,000,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. M&A Terms Venture Investor Richmond Global Cellular … Continue reading “College Wiki Secures $2,000,000 New Financing”
The Uncertain Internet: Core Net Values for the [TBD] Administration
This just in from the Berkman Center for Internet and Society: “Now is a critical moment for defining and reinforcing the best features of our communications platforms. What do we value about the internet and what should be the focus of the next administration? This event will be a discussion exploring the Net’s benefits and … Continue reading “The Uncertain Internet: Core Net Values for the [TBD] Administration”
Novell Launches Mono 2.0
Waltham, MA-based Novell said today that Mono 2.0, an updated version of the company’s open-source platform for building and running applications based on the Microsoft .NET framework, is now available to developers. Using the new version of Mono, companies can make .NET applications run on Linux, Solaris, Unix, and even Macintosh operating systems as well … Continue reading “Novell Launches Mono 2.0”
Sprint’s XOHM WiMax Network Working in Boston?
Sprint Nextel, which is spending billions to blanket major U.S. cities with super-high-speed wireless networks based on the new WiMax standard, turned on its first city—Baltimore—last week. Now there’s a report from the blogosphere that Sprint’s so-called XOHM network is up and running—though not officially launched or supported—in six additional locales, including Boston. The automotive … Continue reading “Sprint’s XOHM WiMax Network Working in Boston?”
Ariad Persuades Court to Allow Immediate Appeal of Ruling in Favor of Amgen
Ariad Pharmaceuticals, the Cambridge, MA-based biotech company, said today that the U.S. District Court in Delaware has allowed an immediate appeal of a ruling that said Amgen’s arthritis drug Enbrel isn’t infringing on Ariad’s patents. A ruling on the appeal is expected to take 12 to 18 months, said Ariad CEO Harvey Berger, in a … Continue reading “Ariad Persuades Court to Allow Immediate Appeal of Ruling in Favor of Amgen”
Atlas Leads €10M Round for Inspirational Stores
Atlas Venture of Waltham, MA, has taken the lead in a €10 million venture round for Inspirational Stores, the Paris-based online marketing firm said today. Inspirational Stores creates and manages e-commerce sites for luxury European consumer brands such as Laduree, Delvaux and Caviar Kaspia. Existing investor OTC Asset Management also participated in the round.
CombinatoRx Reckoning Arrives: Stock Crashes on Failed Arthritis Trial
Judgment day was harsh for CombinatoRx. The Cambridge, MA-based company reported this morning that its experimental arthritis drug, Synavive, failed in a mid-stage clinical trial for patients with osteoarthritis of the knees. The company’s stock crashed 72 percent. The drug didn’t show a statistically significant improvement over a placebo when 279 patients were asked about … Continue reading “CombinatoRx Reckoning Arrives: Stock Crashes on Failed Arthritis Trial”
Y Combinator Recombined: Talking with Philadelphia Startup Incubator DreamIt Ventures
Everything is moving faster in the Internet age, it seems—including startup incubators. At incubators that follow the traditional model, like Idealab or Biogen Idec’s Innovation Incubator, young companies get to spend a leisurely year or two getting their first product out the door, while benefiting from the financial and administrative support of a larger parent … Continue reading “Y Combinator Recombined: Talking with Philadelphia Startup Incubator DreamIt Ventures”
San Diego 92037
If it seems as if San Diego sprang to sudden prominence as a global capital for innovation, at least part of the explanation can be found atop the oceanside bluff known as Torrey Pines Mesa. This perch has one of the most prestigious zip codes in the world, 92037, used by the Burnham Institute for … Continue reading “San Diego 92037”
Xconomy Launches in San Diego—One of the World’s Great Innovation Clusters
Just over three months ago, Xconomy took its model of hyperlocal coverage of key innovation clusters—which we launched here in Boston in June 2007—to Seattle. This morning, I am pleased to announce, marks the official debut of Xconomy San Diego. The editor of Xconomy San Diego is Bruce Bigelow, an award-winning business and technology journalist … Continue reading “Xconomy Launches in San Diego—One of the World’s Great Innovation Clusters”
Tips from a Biotech Pioneer: Leroy Hood Reflects on His Career, and Offers Some Advice
I leave students (and even some of my colleagues) with several pieces of advice. First, I stress the importance of a good cross-disciplinary education. Ideally, I suggest a double major with the two fields being orthogonal-say, biology with computer science or applied physics. Some argue that there is insufficient time to learn two fields deeply … Continue reading “Tips from a Biotech Pioneer: Leroy Hood Reflects on His Career, and Offers Some Advice”
Polaris Re-ups with BlackArrow
Waltham, MA-based Polaris Venture Partners has joined a $20 million Series B financing round for BlackArrow, a San Mateo, CA, startup that specializes in advertising placement and management for Internet-delivered video, the company said today. Polaris’s other first-round co-investors Cisco Systems, Comcast Interactive Capital, Intel Capital, and Mayfield Fund also came back for this round, … Continue reading “Polaris Re-ups with BlackArrow”
Ironwood Attracts $50M, $37M Blows in for Northern Power Systems, Another Contract for IRobot, & More Boston-Area Deals News
The last week saw a variety of deals across innovation industries in New England, but the biggest ones came from biotech and cleantech. —Ironwood Pharmaceuticals raised $50 million from lead investor Morgan Stanley Investment Management and many of the Cambridge, MA-based biotech’s previous investors. Ironwood plans to use the funds in part to advance linaclotide, … Continue reading “Ironwood Attracts $50M, $37M Blows in for Northern Power Systems, Another Contract for IRobot, & More Boston-Area Deals News”
The Evolution of the Biotech Business Model
Presented by the Finance Committee of the Massachusetts Biotechnology Council. The session will begin with a presentation by a representative from the Ernst & Young Global Biotechnology Centre, followed by a panel discussion moderated by Xconomy’s founder Bob Buderi. It will include Q&A with the audience, and conclude with a networking session. More information at … Continue reading “The Evolution of the Biotech Business Model”
Presidential Campaigns Debate Energy
The MIT Energy Initiative and the MIT Energy Club present representatives from the Obama and McCain campaigns debating energy issues. – Representing Senator John McCain: R. James Woolsey – Representing Senator Barack Obama: Jason Grumet Moderated by Tom Ashbrook, National Public Radio More information on the event web site.
2008 MIT Energy Night
From the event web site: “MIT Energy Night is an MIT energy community showcase social event held annually by the MIT Energy Club and at the MIT Museum. This event aims to bring together the science, engineering, policy, and business energy communities at MIT and to showcase the most exciting energy activities at MIT.“
The Building Blocks of Social Media: Community Tools Come of Age
Marketers (and others) may understand the “why” of social networking and community-driven web initiatives, but the “how” is another thing altogether. This next event in the MITX Marketing Technology Series goes real-world to look at the technologies available to drive these initiatives. More informations and registration at the event web site.
Auraria Networks Nets $10M in Funding
Boxborough, MA-based Auraria Networks, a content management and information analysis products provider, has taken in $10 million in Series B funding, reports PE Week, citing a regulatory filing. Pilot House Ventures apparently led the round, joined by previous investor Matrix Partners. It’s hard to gauge what Auraria does, since the website gives little information and … Continue reading “Auraria Networks Nets $10M in Funding”
Biogen Idec Moving to Weston?
Massachusetts biotech giant Biogen Idec (NASDAQ: [[ticker:BIIB]]) is considering a move from Cambridge to Weston, acording to a report in the Boston Globe. Citing Cambridge’s high real estate costs as motivation for the possible change, Biogen CEO Jim Mullen told Globe reporter Todd Wallack that a yet-to-be-built 350,000 square foot building on Boston Post Road … Continue reading “Biogen Idec Moving to Weston?”
What Financial Crisis? Highland’s 20th Hearkens to Days of the Bubble
A basketball hoop in the Museum of Science lobby, teams of entrepreneurs playing 3 on 3. Boston Celtics cheerleaders rooting them on. A rockin’ band. Shots of blueberry martinis doled out in test tubes. A contortionist—yes, a female contortionist in a skin-tight body suit. Did I just go through a time warp, I wondered? This … Continue reading “What Financial Crisis? Highland’s 20th Hearkens to Days of the Bubble”
Four Ways Amazon Could Make Kindle 2.0 a Best Seller
[Addendum, 10/4/08: Boy Genius Report has published pictures from a reader who obtained a Kindle 2. It’s unclear so far which, if any, of the features described in my article below, published 10/3, are included.] I wanted to love the Amazon Kindle. I’ve been a believer in the future of e-books ever since the late … Continue reading “Four Ways Amazon Could Make Kindle 2.0 a Best Seller”
Forma Buys SolMap Assets
Mercury Computing Systems of Chelmsford, MA, a maker of embedded imaging, sensing, and signal processing hardware and software, said today that it has sold the assets of its biotech venture, SolMap Pharmaceuticals, to Cambridge, MA-based FORMA Therapeutics. FORMA, recently funded to the tune of $4 million by the venture capital arm of Novartis, is using … Continue reading “Forma Buys SolMap Assets”
Celldex Nabs $10M Milestone
Needham, MA-based Celldex Therapeutics (NASDAQ: [[ticker:CLDX]]) said it has received a $10 million milestone payment triggered by the U.S. launch of the oral rotavirus vaccine Rotarix, which is marketed by GlaxoSmithKline (NYSE: [[ticker:GSK]]). Celldex was formed through the recent merger of Avant Immunotherapeutics of Needham and Phillipsburg, NJ-based Celldex Therapeutics.
Vermont Joins EnerNOC Pool
The State of Vermont has joined the New England “demand-response pool” managed by Boston-based EnerNOC, meaning that EnerNOC will be able to dial back power usage at state office buildings and other facilities during times of peak electrical demand on regional power utilities. “Demand response is a solution that makes good business sense while delivering … Continue reading “Vermont Joins EnerNOC Pool”
Rib-X Pharma, and Its Lead Antibiotic, Gear Up for Prime Time
Rib-X Pharmaceuticals is gearing up to reveal mid-stage clinical results for its lead antibiotic that could advance the heavily backed biotech firm to a point at which larger drug companies often want a piece of the action. New Haven, CT-based Rib-X, which has raised $123 million in private capital since it was founded in 2001, … Continue reading “Rib-X Pharma, and Its Lead Antibiotic, Gear Up for Prime Time”
iRobot Wins $3.75M Army Contract to Develop Warrior Robot
Bedford, MA-based iRobot (NASDAQ: [[ticker:IRBT]]) said today that the U.S. Army’s Tank-Automotive Research, Development and Engineering Center (TARDEC) will pay the company $3.75 million to build and deliver two “Warrior 700” robots (pictured here.) The Warrior, which has been under development for more than two years, is designed to serve as the big brother of … Continue reading “iRobot Wins $3.75M Army Contract to Develop Warrior Robot”
Locale App for Android Phones “Wouldn’t Even Be Possible on the iPhone,” Says Winner of $275K Developer Challenge
Last week’s unveiling of the first phone running the Android operating system—the T-Mobile G1, which will be available to consumers on October 22—suddenly made Google’s vision of an open source smart-phone platform to compete with Apple’s iPhone seem much more real. But developers writing applications for Android phones have been immersed in the new operating … Continue reading “Locale App for Android Phones “Wouldn’t Even Be Possible on the iPhone,” Says Winner of $275K Developer Challenge”
Ironwood Pharmaceuticals Inc. Receives $50,000,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d006ffba-4ecd-4ff1-a176-a4fb19bcd930&Preview=1 Date 10/2/2008 Company Name Ironwood Pharmaceuticals Inc. Mailing Address 320 Bent Street Cambridge, MA 02141 Company Description We are committed to the development of successful human medicines. Drugmaking is not a statistical event, nor simply a high-throughput industrialized pursuit. Our team is forging a process for creating and developing novel drug … Continue reading “Ironwood Pharmaceuticals Inc. Receives $50,000,000 New Financing”
Auraria Networks Inc. Lands $10,000,000 Series B Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b52142cc-f42c-467f-80bd-bebd221b8600&Preview=1 Date 10/2/2008 Company Name Auraria Networks Inc. Mailing Address 85 Swanson Road Boxborough, MA 01719 Company Description Auraria Networks, Inc. is a company dedicated to providing unique solutions to problems that businesses and other organizations have with content; particularly in an on-line or continuously connected world. We will make products that … Continue reading “Auraria Networks Inc. Lands $10,000,000 Series B Round”
$50M Pumped Into Ironwood Coffers
Ironwood Pharmaceuticals has raised $50 million in a deal led by Morgan Stanley Investment Management and joined by many of its previous investors, the Cambridge, MA-based firm announced today. The company plans to use the cash to, among other things, help move its irritable bowel syndrome treatment linaclotide through Phase 3 clinical trials. Ironwood was … Continue reading “$50M Pumped Into Ironwood Coffers”
Idera Drug Falls Short in Phase 2
Idera Pharmaceuticals (NASDAQ:[[ticker:IDRA]]), a Cambridge, MA-based biotech firm, reports that results of the first portion of a phase 2 clinical trial of a drug called IMO-2055 in patients with a recurrent form of kidney cancer show the treatment failed to have a desired impact on tumor size. Still, investment firm Rodman & Renshaw analysts maintained … Continue reading “Idera Drug Falls Short in Phase 2”
Intersil Buys Kenet
Kenet, a six-year-old semiconductor design company based in Woburn, MA, will be acquired by Milpitas, CA-based semiconductor manufacturer Intersil (NASDAQ: [[ticker:ISIL]]), the larger company announced today. Kenet designs dies for low-power analog-to-digital data conversion for devices such as software-defined radios. Intersil, which did not disclose the amount it’s paying for Kenet, said the acquisition would … Continue reading “Intersil Buys Kenet”
Link Makes $40M Connection, Concert and Indevus Launch Clinicals, Genzyme’s Big Cholesterol Strategy, & More Boston-Area Life Sciences News
Hats off to Link Medicine, whose $40 million financing was a nice reminder that the economy still has a pulse. That, and the rest of the week’s Boston-area life sciences news, below. —In case you missed our forum, How to Build a Life Sciences Company, Ryan did a great round up of the varied and … Continue reading “Link Makes $40M Connection, Concert and Indevus Launch Clinicals, Genzyme’s Big Cholesterol Strategy, & More Boston-Area Life Sciences News”
BSX to Pay J&J $703M in Stent Suit
Boston Scientific (NYSE:[[ticker:BSX]]), a Natick, MA-based medical devices maker, has been ordered to pay $703 million to the Cordis unit of medical products giant Johnson & Johnson for infringing on a Cordis patent on stents, according to J&J. The U.S. District Court of Delaware made a final judgment in the case that also involved Minneapolis-based … Continue reading “BSX to Pay J&J $703M in Stent Suit”
Stallman Blasts Cloud Computing
In an article Monday in the UK’s Guardian newspaper, Richard Stallman, president of Boston’s Free Software Foundation, criticized the trend toward utility-style “cloud computing” as a marketing strategy designed to lock users into proprietary computing platforms. Stallman included Web-based services such as Google’s Gmail in his critique. “One reason you should not use Web applications … Continue reading “Stallman Blasts Cloud Computing”
Alnylam Hires Chief Scientist, Jack Schmidt, To Help Build RNAi Pipeline
Alnylam Pharmaceuticals has been getting by for years without a full-time chief scientific officer, but no more. The Cambridge, MA-based developer of drugs based on RNA interference (RNAi) technology said today it has hired Jack Schmidt, a former vice president at French drugmaker Sanofi-Aventis and a member of the global discovery leadership team there, to … Continue reading “Alnylam Hires Chief Scientist, Jack Schmidt, To Help Build RNAi Pipeline”
Venture Exits Drop 66 Percent in Third Quarter: Sign of “Nuclear Winter?” To Come
When the tech boom of the 1990s began to evaporate at the end of the last millennium, a handful of VCs-turned-meteorologists predicted the climate was turning into a “nuclear winter” for many startup ventures. Well, it’s getting cold again. Exits by venture-backed companies nationwide declined 66 percent in the third quarter of 2008, according to … Continue reading “Venture Exits Drop 66 Percent in Third Quarter: Sign of “Nuclear Winter?” To Come”
Princeton Undergrad Brings Scavenger-Hunt Startup to Boston
At 10:00 a.m. on Saturday, October 18, 500 couples will fan out across Philadelphia in search of a $25,000 diamond ring hidden by a local jeweler. Equipped only with cell phones, the couples will receive text-message instructions directing them to an array of local landmarks, where they’ll have to complete puzzles and other challenges to … Continue reading “Princeton Undergrad Brings Scavenger-Hunt Startup to Boston”
Link Medicine Raises $40 Million to Counter Neurodegenerative Disease
Link Medicine, a secretive Cambridge, MA, startup that’s spent the last three years investigating new therapies for neurodegenerative diseases like Alzheimer’s, Parkinson’s, Huntington’s, and Amyotrophic Lateral Sclerosis (ALS), said today that it has completed a $40 million Series C venture round. The investment comes from Clarus Ventures, a Cambridge- and San Francisco-based fund focused on … Continue reading “Link Medicine Raises $40 Million to Counter Neurodegenerative Disease”