Category: Boston

Reveal Imaging Technologies Inc. Obtains $20,300,000 New Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=805da89b-d914-4595-94bf-fa575d92855f&Preview=1 Date 3/28/2008 Company Name Reveal Imaging Technologies Inc. Mailing Address 201 Burlington Rd Bedford, MA 01730 Company Description MA, Reveal Imaging Technologies, Inc., has developed a new paradigm for government mandated explosives detection systems (EDS) for airport security. Website http://www.revealimaging.com/ Transaction Type Debt, Venture Equity Transaction Amount $20,300,000 Transaction Round Undisclosed … Continue reading “Reveal Imaging Technologies Inc. Obtains $20,300,000 New Funding Round”

UMass Doles out $240,000 to Turn Research Ideas into Commercial Products

Need a better AIDS drug? Want to turn plants into gasoline without going through that whole millions-of-years-buried-in-the-ground thing? The University of Massachusetts is hoping its researchers have figured out how to achieve such feats, and is awarding them grants to help the research along, possibly create new companies, and bring in licensing revenue to fund … Continue reading “UMass Doles out $240,000 to Turn Research Ideas into Commercial Products”

Vertex Climbs on Encouraging Early Results From Cystic Fibrosis Drug Trial

Shares of Cambridge, MA-based Vertex Pharmaceuticals (NASDAQ: [[ticker:VRTX]]) climbed this morning after the company announced some encouraging preliminary results from an ongoing trial of VX-770, a drug for cystic fibrosis. The firm’s stock opened at $18.24 and by about 11:00 was trading around $19.55, up almost 10 percent from yesterday’s close of $17.83. Vertex’s drug … Continue reading “Vertex Climbs on Encouraging Early Results From Cystic Fibrosis Drug Trial”

Of Card-Counting, Startups, and the Real Story of the MIT Blackjack Team

(Updated, March 27, 6:45 pm—see editor’s note, p. 2) The house was on Inman Street, near Cambridge’s Central Square. Peter Woit recalls the morning he came downstairs and found his roommate obviously upset. “John, what’s wrong?” he asked. “Have you seen a dirty pink laundry bag?” came the response. “No, why?” “There was $80,000 in … Continue reading “Of Card-Counting, Startups, and the Real Story of the MIT Blackjack Team”

1336 Technologies, Inc. Secures $12,000,000 Series A Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=6849e949-ffbc-4564-b7df-c40248c51f45&Preview=1 Date 3/27/2008 Company Name 1336 Technologies, Inc. Mailing Address 45 Hartwell Avenue Lexington, MA 02421 Company Description 1366 Technologies is making silicon solar cells competitive with coal. Our goal is to build on the success of multi-crystalline solar cells and manufacturing capacity to accelerate the transition to solar. Our products and … Continue reading “1336 Technologies, Inc. Secures $12,000,000 Series A Round”

MIT Spinoff Aims to Make Solar Power Cheaper Than Coal

Solar cells have been around for 30 years, but have never made huge inroads into the energy market because they’ve always been more expensive than other ways of producing electricity. Now an MIT spinoff claims it’s going to make solar power cheaper than coal, not through any dramatic change in the technology but with a … Continue reading “MIT Spinoff Aims to Make Solar Power Cheaper Than Coal”

Technical Bibliophiles to Bid Adieu To Kendall Square

Fans of browsing uber-geeky tomes on computer graphics, operating-system design, programming, and all other deeply technical matters have something of a wake to attend tomorrow afternoon. Kendall Square’s Quantum Books, which will be shuttering its brick-and-mortar store this weekend, is hosting a 5:30 p.m. goodbye party for longtime customers, according to the Cambridge Chronicle. Quantum … Continue reading “Technical Bibliophiles to Bid Adieu To Kendall Square”

Two Highland Funds Join Forces to Lead $20 Million Funding Round for Pharmaca Retail Chain

Envision a drug store where conventional prescriptions, treatments, and toiletries are co-mingled with natural health care products and you have the core vision behind Pharmaca Integrative Pharmacy. Right now, the Boulder, CO-based retail chain has just 20 stores, but it plans to grow fast—adding another dozen stores per year. And two local venture funds, Highland … Continue reading “Two Highland Funds Join Forces to Lead $20 Million Funding Round for Pharmaca Retail Chain”

Nanocomp Wins Air Force Grant to Make Carbon-Nanotube Wiring for Aircraft

You may remember a few weeks back, when Nanocomp Technologies of Concord, NH, announced that it was able to make what it called the world’s largest sheets of carbon nanotubes. Well, it seems like the folks at Slashdot weren’t the only ones intrigued by the technology. The Air Force has awarded the company a Small … Continue reading “Nanocomp Wins Air Force Grant to Make Carbon-Nanotube Wiring for Aircraft”

How Metatomix is Bringing the Semantic Web to Life in Law Enforcement

In 2005, nine-year-old Jessica Lunsford was raped and murdered by a known sex offender who did not inform the police that he had moved to her neighborhood in Homosassa, FL, and who had been released earlier by a state court that did not have access to parts of his criminal record. Florida lawmakers responded to … Continue reading “How Metatomix is Bringing the Semantic Web to Life in Law Enforcement”

Alkermes Makes Cuts, Eyegate Avoids Pokes, Codon Gets a Boost, & More Life Sciences News

The past week was evidently on the quiet side for Boston-area life sciences firms, with a few exceptions: —Cambridge, MA-based Alkermes (NASDAQ: [[ticker:ALKS]]) announced it will cut 150 jobs and close a manufacturing plant after Eli Lilly ended a joint project to develop inhaled insulin. —EyeGate Pharma of Waltham, MA, raised $15 million from Medicis … Continue reading “Alkermes Makes Cuts, Eyegate Avoids Pokes, Codon Gets a Boost, & More Life Sciences News”

Ntirety, Inc. Garners $1,000,000 Series B Funding Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=95a39b97-3477-45ec-9ec8-d92a9367ddb8&Preview=1 Date 3/26/2008 Company Name Ntirety, Inc. Mailing Address 980 Washington Street Dedham, MA 02026 Company Description Ntirety’s Team of Remote Administration Experts remotely monitor and tune our clients Oracle and Microsoft SQL Server database environments, rapidly respond to down database situations, ensure a clients backup and recovery capabilities, prevent database outages … Continue reading “Ntirety, Inc. Garners $1,000,000 Series B Funding Round”

Adimab Scores Second Funding Round in Less Than A Year

A young biotech company founded by a pair of professors from MIT and Dartmouth has closed a Series B financing round co-led by Polaris Venture Partners and SV Life Sciences, just eight months after it closed a $6.2 million Series A round led by the same firms. Lebanon, NH’s Adimab didn’t disclose the value of … Continue reading “Adimab Scores Second Funding Round in Less Than A Year”

Jail-Breaking iPhones and Other Tales from the Apple Store

For Boston-area mobile software developers, the Apple Store at the Cambridgeside Galleria was the place to be last night. Apple loaned the space to Mobile Monday Boston for its monthly meeting, which focused this time on software applications for the iPhone—whether authorized by Apple or “open,” to use the euphemism for the growing universe of … Continue reading “Jail-Breaking iPhones and Other Tales from the Apple Store”

Early Stage Life Sciences Pitches—12 Firms Looking for Funding

Whether it’s to learn about new approaches to cancer treatment, better ways to harvest stem cells, or cutting edge arthritis and anxiety drugs, I always have a good time at events like yesterday’s Early Stage Life Sciences Conference. That’s because you meet people with fascinating ideas and technologies they think will change the world (and … Continue reading “Early Stage Life Sciences Pitches—12 Firms Looking for Funding”

Capturing the Facebook Flag: Harvard, Yale Students Launch Rival “Social Online Sports” Companies

How to Build a Web Startup: Step 1: Get into a prestigious university like Yale, Harvard, or Stanford. Step 2: Organize some kind of Web-mediated event or service, and get a few thousand of your fellow students to participate. Step 3: Start answering the calls from venture capitalists and online advertisers. It worked for Facebook, … Continue reading “Capturing the Facebook Flag: Harvard, Yale Students Launch Rival “Social Online Sports” Companies”

Codon Devices Secures $11,000,000 Series B Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=2e8a7705-542b-4f37-be13-40ba0f2c3486&Preview=1 Date 3/25/2008 Company Name Codon Devices Mailing Address One Kendall Square, Building 300, 3rd Floor Cambridge, MA 02139 Company Description Codon Devices is a privately-held biotechnology company focused on enabling commercial applications of synthetic biology. Codon Devices’ proprietary synthesis and design technologies improve the productivity, throughput and flexibility of its industrial, … Continue reading “Codon Devices Secures $11,000,000 Series B Funding”

CoreStreet Ltd. Secures New Financing

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=5bfc118e-6b03-4a81-ab59-98994533a8f0&Preview=1 Date 3/25/2008 Company Name CoreStreet Ltd. Mailing Address One Alewife Center Cambridge, MA 02140 Company Description Businesses and governments around the world deploy CoreStreet products and CoreStreet-enabled solutions to increase security, reduce costs, and comply with regulations. Website http://www.corestreet.com Transaction Type Venture Equity Transaction Amount Undisclosed Transaction Round Undisclosed Proceeds Purposes … Continue reading “CoreStreet Ltd. Secures New Financing”

Adimab, Inc. Lands Series B Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=ea916dda-1b46-4da8-97cb-a8ce2fed1381&Preview=1 Date 3/25/2008 Company Name Adimab, Inc. Mailing Address 16 Cavendish Court Lebanon, NH 03766 Company Description Adimab–which stands for Antibody Discovery Maturation Biomanufacturing–is developing a platform that’s deliberately engineered to minimize and potentially eliminate third party royalties, offering a one-stop-service-shop to a select few Big Pharma partners. Website http://www.adimab.com Transaction Type … Continue reading “Adimab, Inc. Lands Series B Financing Round”

OpenService, Inc. Garners New Financing Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=19c39129-b985-43b0-bce7-f5e806891b32&Preview=1 Date 3/25/2008 Company Name OpenService, Inc. Mailing Address 67 Forest Street Marlborough, MA 01752 Company Description OpenService, Inc. is a leading provider of Security Information and Event Management (SIEM), Event Correlation and Network Monitoring solutions. Website http://www.openservice.com/ Transaction Type Venture Equity Transaction Amount Undisclosed Transaction Round Undisclosed Proceeds Purposes Funds will … Continue reading “OpenService, Inc. Garners New Financing Round”

Want to Listen to Me Blather on About Our Blog and the Exponential Economy?

Talk about turning the tables. It’s usually we reporters and writers that tap into the knowledge of public relations people—-occasionally interviewing them but often working with them to find the right people to speak with at companies and organizations. They don’t interview us, usually. But since Xconomy is a relatively new publication, PR people have … Continue reading “Want to Listen to Me Blather on About Our Blog and the Exponential Economy?”

PowerPoint to the People

A 2001 New Yorker essay entitled “Absolute PowerPoint” contained the stunning claim that over 30 million PowerPoint presentations were being given every day. The article attributed this statistic to Microsoft; it did not say how the company gathered the data. But whatever the actual prevalence of PowerPoint in 2001, it’s surely even greater now, given … Continue reading “PowerPoint to the People”

How Network Non-Neutrality Affects Real Businesses

Network neutrality leaped back into the headlines last month, when FCC commissioners held a public hearing at Harvard University to examine whether the commission should institute rules to regulate the way Internet service providers (ISPs) manage traffic on their networks. The panel heard from executives representing the two largest ISPs in the Northeast, Comcast and … Continue reading “How Network Non-Neutrality Affects Real Businesses”

BladeLogic Scores Big, EMC Gets Another Crack at Iomega, Luminus Closes a Large Round, & More Deals News

The word of the week for Boston-area deal-making was acquisition. You’ll see what I mean. —Data-center-automation firm BladeLogic (NASDAQ: [[ticker:BLOG]]) of Lexington, MA, scored an impressive $800 million in a buy-out deal with Houston, TX-based BMC Software (NYSE: [[ticker:BMC]]). —Beverley, MA-based Axcelis Technologies, a maker of specialized semiconductor manufacturing equipment, once again rejected a takeover … Continue reading “BladeLogic Scores Big, EMC Gets Another Crack at Iomega, Luminus Closes a Large Round, & More Deals News”

Convergence: The Life Sciences Leaders Forum

The annual, invitation-only Convergence forum is one of our favorite events, focusing specifically on life sciences and drawing a great crowd of life sciences and biotech executives, researchers, and investors to a fantastic setting on Martha’s Vineyard. One tip for the restaurants down there: bring your own wine.

University Research & Entrepreneurship Symposium

The one-day, invitation-only University Research & Entrepreneurship Symposium is designed “to bring world-class research universities to Boston and to showcase them before a group of New England’s top entrepreneurs and venture capitalists.” The multi-disciplinary focus—which Xconomy loves to celebrate—centers on innovations and technologies in information technology, materials science, and energy technology. The symposium itself is … Continue reading “University Research & Entrepreneurship Symposium”

Ideastream

Every year, the Deshpande Center for Technological Innovation at MIT holds its invitation-only Ideastream symposium that brings together leading entrepreneurs, innovators, venture capitalists, and researchers to examine ways to bridge the gap between MIT research and the business and technology community. Xconomy founder and editor in chief Bob Buderi will be moderating a plenary session … Continue reading “Ideastream”

MIT Sloan BioInnovations 2008

What are the most powerful emerging technologies and innovations in biotechnology—and what are the key challenges the industry faces? Senior management, investors, and leading academics from the Bay State biotechnology community convene for this big day of idea exchanging and discussion brought to you by MIT’s Sloan School of Management. Xconomy editor in chief Bob … Continue reading “MIT Sloan BioInnovations 2008”

Design Thinking Workshop

Design thinking. It’s an emerging trend in the design world with some powerful connotations to enhance consumer experiences, and with applications to wider business arenas. This free, one-day workshop at Rhode Island’s non-profit Business Innovation Factory bills itself as “an interactive journey into the world of design thinking” that will take you from concept to … Continue reading “Design Thinking Workshop”

Allied Minds Aims to Forge Early Alliances with University Researchers

Anybody who reads this blog is familiar with the large number of venture capital companies ready to fund developing businesses, and there always seem to be more climbing aboard in Series B and C rounds as a particular business starts to look more likely to succeed. But one local company, Allied Minds, hopes to make … Continue reading “Allied Minds Aims to Forge Early Alliances with University Researchers”

EMC: Before Acquiring, Check the Wiring

Consider a few names: Documentum, RSA Security, Tablus, VMware, Berkeley Data Systems (parent of Mozy). That’s a very abbreviated version of what’s getting to be a long and pretty illustrious list of acquisitions made by EMC (NYSE:[[ticker:EMC]]) in recent years. And just in the last few weeks, the Hopkinton, MA, firm announced a couple more … Continue reading “EMC: Before Acquiring, Check the Wiring”

Highland Capital Partners Leads $12 Million Funding Round for CafeMom

So, yes, I have my Facebook page, my Friendster page, Myspace, LinkedIn, and possibly a couple of others I signed up for and forgot about. One site I’m not on is CafeMom, and the folks there are just fine with that. The social networking site for mothers just received $12 million in funding, on top … Continue reading “Highland Capital Partners Leads $12 Million Funding Round for CafeMom”

Y Combinator Gears Up for Startup Summer

Time’s a wastin’ for East Coast technology entrepreneurs who want help from Y Combinator, investor Paul Graham’s startup camp, which returns to Cambridge for its fourth year this summer. Applications for summer 2008 funding are due April 2. Y Combinator winters in Mountain View, CA, where it just held its semi-annual Demo Day, its equivalent … Continue reading “Y Combinator Gears Up for Startup Summer”

Ex-Sony Workers’ Software Smooths Call Center Woes

As frustrating as it is to call a customer-support line, navigate the automated voice-response system, then wait on hold for 15 minutes to speak with an actual human, the call-center experience can be even harder for the people on the other end of the line. A number of trends are making life more harried for … Continue reading “Ex-Sony Workers’ Software Smooths Call Center Woes”

EyeGate Pharma Sees a New Way of Delivering Drugs to the Eye

I have had doctors stick needles in my eyes, so trust me when I tell you this: Not Fun. Eyeball injections are sometimes necessary to get drugs into hard-to-reach parts of the eye, but things can go wrong. Touch an eyelash on the way in, for instance, and you could inject bacteria as well; point … Continue reading “EyeGate Pharma Sees a New Way of Delivering Drugs to the Eye”

Accessing Cleantech R&D in Europe

The British Consulate General of Boston and U.K. Trade & Investment sponsor a half-day seminar with thought leaders from the cleantech industry in the U.S. and U.K. to discuss R&D market opportunities waiting to be explored. The seminar will focus on global investment trends, access to funding, research programs and institutions, IP security, and an … Continue reading “Accessing Cleantech R&D in Europe”

Aspect, Microsoft in Alliance

Chelmsford, MA-based Aspect Software will adapt its Internet-based call center software to operate with Microsoft’s Office Communications Server, the company announced today at the VoiceCon conference in Orlando, FL. Aspect says that its system, once integrated into Office Communications Server, will allow call-center agents to “seamlessly escalate customer interactions to different channels — phone, instant … Continue reading “Aspect, Microsoft in Alliance”

RXi’s Debut, Sirtris’ Surprising Deal, Hydra’s Big Financing Round, & More of the Last Week in Life Sciences

The past week finally saw a life sciences firm debut on the stock market (although it was a spin-off rather than an IPO). That and more news below. —RXi Pharmaceuticals (NASDAQ: [[ticker:RXII]]), the Worcester, MA-based spin-off of Los Angeles’s CytRx, made its debut on the NASDAQ Capital Market last week. Shares of the firm, which … Continue reading “RXi’s Debut, Sirtris’ Surprising Deal, Hydra’s Big Financing Round, & More of the Last Week in Life Sciences”

MIT Deshpande Center Announces $500,000 in Grants to Speed Innovations to Market

MIT’s Deshpande Center for Technological Innovation announced today that it has awarded $500,000 in grants to help seven institute research teams move their technologies closer to market. The funded projects address a wide array of areas that include improving hearing aids, better wireless broadband transmitters, bioassays for bedside diagnostics, a new approach to semiconductor fabrication, … Continue reading “MIT Deshpande Center Announces $500,000 in Grants to Speed Innovations to Market”

Febit Aims to Automate Genomics Research

A German company that has come to the Boston area looking for capital and genomics expertise is hoping its technology will help speed up discoveries based on DNA science—leading to new disease treatments and perhaps one day to personalized medicine, in which doctors tailor therapies to a patient’s genetic makeup. Febit, of Heidelberg and Medford, … Continue reading “Febit Aims to Automate Genomics Research”

Web 2.0 Investments Up in 2007 But Likely Close to Peak—New England Second to Silicon Valley

Turn your attention for a moment from the Bear Stearns debacle to the Web 2.0 world, where the news isn’t quite as depressing, but where investment may be peaking, according to a new report by Dow Jones VentureSource. The company bases this assessment on the fact that there was only a 25 percent increase in … Continue reading “Web 2.0 Investments Up in 2007 But Likely Close to Peak—New England Second to Silicon Valley”

Aspect Software Secures New Round

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=33d1ef83-a3b0-4358-be45-8c271314693e&Preview=1 Date 3/19/2008 Company Name Aspect Software Mailing Address 300 Apollo Drive Chelmsford, MA 01824 Company Description Aspect Software delivers all-in-one, IT-ready solutions that reduce complexity, lower costs and increase business agility by consolidating all contact center functionality into standards-based software that is easy to deploy, manage and propagate throughout the enterprise … Continue reading “Aspect Software Secures New Round”

Groove Mobile Acquired by NMS for 45 Cents on the Dollar; Company Never Found Its Groove

One of the Boston area’s oldest mobile content companies has unexpectedly exited the scene. After raising $6 million in new venture funding as recently as last August, Bedford, MA-based mobile music distributor Groove Mobile will be acquired by Framingham, MA-based NMS Communications (NASDAQ: [[ticker:NMSS]]) for a reported $14.5 million. That’s a yield of about 45 … Continue reading “Groove Mobile Acquired by NMS for 45 Cents on the Dollar; Company Never Found Its Groove”

Exact Sciences Puts Itself on the Block After Investor’s Prodding

Looks like Carl Icahn isn’t the only activist investor yanking local life sciences firms’ chains these days. Just a few weeks after a California fund manager called for a sale of cancer-diagnostics firm Exact Sciences (NASDAQ: [[ticker:EXAS]]), the Marlborough, MA-based firm announced that it’s putting itself on the block. (Seriously, what is it with all … Continue reading “Exact Sciences Puts Itself on the Block After Investor’s Prodding”

IPO Market in Tailspin—Pogo Jet Latest to Pull Offering

Just four weeks ago, we wrote about Pogo Jet setting its IPO terms—noting that while other firms were taking flight from their initial public offering plans as the economy went into a nosedive, the Chicopee, MA-based jet charter service led by former American Airlines CEO Robert Crandall was “letting its IPO ambitions soar.” Indeed, even … Continue reading “IPO Market in Tailspin—Pogo Jet Latest to Pull Offering”

IT Acquisitions All Around: BladeLogic, Teragram, and Maybe Even Iomega?

Looks like somebody misread the memo about Evacuation Day and decided yesterday was Acquisition Day here in the greater Boston area. (Although Axcelis Technologies made no such mistake.) First, there was the whopping $800 million that Lexington, MA’s BladeLogic (NASDAQ: [[ticker:BLOG]]) announced it will make in a buy-out by Houston, TX-based BMC Software (NYSE: [[ticker:BMC]]). … Continue reading “IT Acquisitions All Around: BladeLogic, Teragram, and Maybe Even Iomega?”

Environmental Operating Solutions Garners $2,500,000 New Funding

Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=c9d56b7b-373a-412b-99c7-69dc15257675&Preview=1 Date 3/18/2008 Company Name Environmental Operating Solutions Mailing Address 4A Colonel Drive Bourne, MA 02532 Company Description Environmental Operating Solutions, Inc. (EOS) creates agriculturally-derived products to remove the pollutant nitrogen from wastewater. Our proprietary MicroC™ technology was designed to safely and cost effectively reduce nitrogen by converting it to water and … Continue reading “Environmental Operating Solutions Garners $2,500,000 New Funding”