The trending topic among biotech people and the people who fund them these days is that it is almost impossible to scrounge up financing for startups in the earliest stages of drug development. As Xconomy’s Luke Timmermanwrote in July, the amount of money invested in first-round biotech financings fell by 60 percent in the first … Continue reading “Xconomist of the Week: Alexis Borisy Still Likes Early Stage Biotechs”
Category: Detroit
ParkWhiz Obtains $2,000,000 Series A Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=7ad303b2-5c3f-455d-ad0d-dcbc71116a2a&Preview=1 Date 12/20/2012 Company Name ParkWhiz Mailing Address 2243 W Belmont Ave Chicago, IL 60618 Company Description ParkWhiz is the number one place to find and reserve a guaranteed parking space before you reach your destination. In addition, ParkWhiz creates software to help parking owners manage and market their parking using the … Continue reading “ParkWhiz Obtains $2,000,000 Series A Funding Round”
Women 2.0 Founder Friday Detroit
Join entrepreneurs, investors, and others working in tech-related fields at this monthly event celebrating women in technology startups. Stacy Goldberg of Savorfull will be hosting the event. To register, click here.
Five Tips for Building a Successful Relationship with the FDA
I recently led an initiative to communicate more proactively and frequently with the leaders of the FDA about issues specifically related to improving the agency’s focus on innovative biomedical and therapeutic technologies. At San Diego’s Biocom, where I am CEO, we believe that both industry and regulators can benefit from an atmosphere of open communication … Continue reading “Five Tips for Building a Successful Relationship with the FDA”
The Cloud in Healthcare Post-Election
At the Dec. 10 Xconomy forum on Healthcare in Transition, I participated in a panel discussion on post-election themes in the business of healthcare from the perspective of a cloud-based healthcare IT company. There was, naturally, difference of opinions among the group on government’s role in facilitating healthcare IT innovation, but there was also some … Continue reading “The Cloud in Healthcare Post-Election”
Fruition Partners Receives $12,000,000 Series A Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=2065dfaf-7940-4ba8-805c-0b8a5bacf2df&Preview=1 Date 12/19/2012 Company Name Fruition Partners Mailing Address 168 N. Clinton Chicago, IL 60661 Company Description Fruition Partners is an experienced cloud service management firm. From robust service offerings to innovative products, Fruition has the tools and expertise to help customers attain sustainable success throughout the entire ITSM process. Website http://www.fruitionpartners.com … Continue reading “Fruition Partners Receives $12,000,000 Series A Round”
NextEnergy, MEDC Launch Michigan Accelerating Technologies Grant
On Dec. 1, the Detroit-based nonprofit NextEnergy launched the new Michigan Accelerating Technologies Energy Grant (MATch) program, a three-year initiative funded by the Michigan Economic Development Corporation. It’s the latest tool in the state’s arsenal to help Michigan companies in the advanced energy sector compete for federal research and development dollars. A similar effort directed … Continue reading “NextEnergy, MEDC Launch Michigan Accelerating Technologies Grant”
Water Mission to Israel (Day 2): Water Management Solutions at Scale
Monday in Israel started out quickly with the Massachusetts Water Delegation taking part in a global water market networking event with the CleanIsrael Meetup Group. CleanIsrael is a pan-Israel cleantech business network with over 1,000 members and is akin to the Clean Economy Network (now part of the Advanced Energy Economy). After charging up with … Continue reading “Water Mission to Israel (Day 2): Water Management Solutions at Scale”
Hope in Detroit: An Outsider on Motown’s Entrepreneurial Renaissance
Long written off by many, Detroit is becoming an interesting city to watch from an urban revitalization perspective. At the core of these developments is the emergence of a startup ecosystem where (for the most part) one did not previously exist. While still early, the progress made in this area over the last several years … Continue reading “Hope in Detroit: An Outsider on Motown’s Entrepreneurial Renaissance”
Plex Systems Lands $30,000,000 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=de114f59-d80d-4f31-8931-3b2ef45b0087&Preview=1 Date 12/18/2012 Company Name Plex Systems Mailing Address 1731 Harmon Rd. Auburn Hills, MI 48326 Company Description Plex Online Software as a Service (SaaS) ERP has a global reach. Plex Online manufacturing ERP software provides unparalleled coverage and access to operational intelligence. Website http://www.plex.com Transaction Type Venture Equity Transaction Amount $30,000,000 … Continue reading “Plex Systems Lands $30,000,000 New Funding Round”
Detroit’s LevelEleven Launches LeaderTV
When LevelEleven launched in late October, CEO Bob Marsh said the company planned to incorporate client feedback and build on his company’s enterprise gamification software. The Detroit-based startup today announced it has done just that, creating something called LeaderTV. LevelEleven had been working on the idea for months based on feedback from clients and prospective customers, … Continue reading “Detroit’s LevelEleven Launches LeaderTV”
Water Mission to Israel (Day 1): The Past and Present of the Israeli Water Story
I did say it was going to be a packed schedule, so here I am sitting down at 1am in Tel Aviv sharing the highlights of Day 1 of the Massachusetts-Israel Water Mission. The first 24 hours have been filled with a whirlwind of history, sights, and sounds, spending time with fellow delegates and lots … Continue reading “Water Mission to Israel (Day 1): The Past and Present of the Israeli Water Story”
The 5 Myths of Big Data Analytics
Everyone wants a glimpse into the future; the insights and information found there would be inherently lucrative for the individual (or business) that possessed them. And, while soothsayers haven’t yet proven themselves to be a reliable business asset, today’s predictive analytics software has. “Predictive analytics,” in whole, is data analysis that provides enterprises with predictions … Continue reading “The 5 Myths of Big Data Analytics”
2012: The Year When Genomic Medicine Started Paying Off
Remember a couple of years ago when people commemorated the 10-year anniversary of the first draft human genome sequencing? The storyline then, in 2010, was that we all went off to genome camp and only came home with a lousy T-shirt. Society, we were told, invested huge scientific resources in deciphering the code of life, … Continue reading “2012: The Year When Genomic Medicine Started Paying Off”
Naurex Lands $38,000,000 Series B Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=22c6625e-55ff-47d3-9b6f-3c65b01211b6&Preview=1 Date 12/17/2012 Company Name Naurex Mailing Address 1801 Maple Ave. Evanston, IL 60201 Company Description Naurex Inc. is a clinical-stage company developing novel therapies for depression and other CNS disorders based on a new mechanism of action for modulating the N-methyl-D-aspartic acid receptor (NMDAR). Website http://www.naurex.com Transaction Type Venture Equity Transaction … Continue reading “Naurex Lands $38,000,000 Series B Financing”
Water Mission to Israel: Heading Over
It always plays out this way—a kernel of an idea starts the ball rolling, followed by months of increasingly refined planning, a flurry of activity in the endgame, and then it’s GO time. I recall this operating rhythm well from my military days, and it’s been the same over the past dozen-plus years working with … Continue reading “Water Mission to Israel: Heading Over”
EISEM Entrepreneur’s Forum
Learn more about fine-tuning the art of the elevator pitch at this event, where investors and business professionals will provide guidance and critiques. Presenting companies are Coliant Corporation, ElderCompass, Future Help Designs, and Stik.com. The event is free, but registration is appreciated; click here for more information.
Aastrom Names New Interim CEO, Mayleben To Remain Active in Fundraising
Ann Arbor, MI-based biotech startup Aastrom Biosciences (Nasdaq: ASTM) announced this week that president and CEO Tim Mayleben has retired and a new interim CEO, Dan Orlando, has been named by Aastrom’s board. Orlando was hired at Aastrom in August to be the company’s chief commercial officer, and Mayleben says his experience getting products to … Continue reading “Aastrom Names New Interim CEO, Mayleben To Remain Active in Fundraising”
Automation Alley’s Global Economic Outlook 2013
Hear local success stories and learn how small businesses can find big global markets at this free event. Featured speakers include William Adams, PNC Bank; Robert Rufini, president of Fluxtrol; and Kevin McKervey, president of Clayton & McKervey. Registration is appreciated; click here for details.
Developing a 21st Century Entrepreneurship Curriculum
In 2012, in partnership with Stanford University, U.C. Berkeley and NCIIA, Jerry Engel and I first offered the Lean LaunchPad Educators Class. The class was designed to teach educators (and the entrepreneurs that support them) the Lean LaunchPad approach (Business Model Design, Customer Development and Agile Engineering) for teaching entrepreneurship. In addition the class offers … Continue reading “Developing a 21st Century Entrepreneurship Curriculum”
Give Your Online Life a Lift with IFTTT
How many times have you come across a new technology or service and said to yourself, “That’s ridiculous, only a real geek would use that!”, only to find yourself happily benefiting from the same innovation a year or two later? Well, can you say “the Web” or “text messaging” or “Facebook photo albums” or “RSS … Continue reading “Give Your Online Life a Lift with IFTTT”
Build It In The Back Yard: Why We Need American Manufacturing
[Editor’s Note: This post was co-authored by Brian Patrick Quinn, Patrick Connelly, Patricia Hurter, John Condon, Peter Mueller & Joshua Boger of Vertex Pharmaceuticals.] American companies, in recent years, have developed a massive appetite for foreign labor. The shirt you’re wearing, the cell phone you’re using, and even the medicine you’re taking might have been … Continue reading “Build It In The Back Yard: Why We Need American Manufacturing”
SpotHero Secures $2,500,000 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=cfdcc5da-83b5-4756-802f-3a629f4a0872&Preview=1 Date 12/14/2012 Company Name SpotHero Mailing Address 222 West Merchandise Mart Plaza 12th Floor – 1871 Chicago, IL 60654 Company Description SpotHero is the Orbitz of Chicago parking spots. We work with some of the largest parking operators in the country to make parking reasonably priced and readily accessible for customers. … Continue reading “SpotHero Secures $2,500,000 New Funding Round”
NanoSteel to Open Metro Detroit Office Focusing on Automotive Business
NanoSteel, the Providence, RI-based nano-materials company, announced yesterday that it will open an office in metro Detroit. It has named Craig Parsons, a former Gestamp executive with more than 20 years experience working in the automobile supply chain and manufacturing, to lead the operation. The metro Detroit office will focus on NanoSteel’s automotive initiatives as … Continue reading “NanoSteel to Open Metro Detroit Office Focusing on Automotive Business”
C-SAM Lands New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=1a48adc0-023a-4d3b-a9da-8156323103de&Preview=1 Date 12/13/2012 Company Name C-SAM Mailing Address One Tower Lane Oakbrook Terrace, IL 60181 Company Description C-SAM, Inc. is a pioneer in secure mobile transactions technology. The company provides turnkey services to carriers, banks, merchants, settlement networks, healthcare providers, and large infrastructure providers. C-SAM has launched commercial services in the US, … Continue reading “C-SAM Lands New Financing”
When VCs Run Out of Energy: The New Era of Cleantech Investing
The hasty promotion of cleantech to the high expectations of high-tech and biotech led to well-documented investment disasters. Capital intensity, time to exit—as we all know by now, energy simply isn’t IT (with all due respect to the plucky, if likely short-lived, promotion of “clean Web”). The apparent decline of the word cleantech may be … Continue reading “When VCs Run Out of Energy: The New Era of Cleantech Investing”
Esanex Obtains $10,746,664 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=3ae79703-9688-4b55-9929-68ba7919a754&Preview=1 Date 12/12/2012 Company Name Esanex Mailing Address 115 W. Washington St. Indianapolis, IN 46204 Company Description Esanex, Inc. is a United States-based pharmaceutical company. Website Undisclosed Transaction Type Venture Equity Transaction Amount $10,746,664 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not disclosed. SEC regulatory filing. M&A Terms Venture Investor Undisclosed
HealthEdge Software Acquires Click4Care for Undisclosed Sum
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=07b2e171-8e4d-4aa1-aad2-3c2294bae54f&Preview=1 Date 12/12/2012 Company Name Click4Care Mailing Address 50 South Liberty Street Powell, OH 43065 Company Description Click4Care is implementing an end-to-end medical management software solution that is smart, sophisticated, and powerful enough to manage your entire member population and empower their stakeholders to focus on the right patients at the right … Continue reading “HealthEdge Software Acquires Click4Care for Undisclosed Sum”
Credentialock China to Focus on International Student Verification Market
When we spoke to Royal Oak, MI-based startup Credentialock last spring, CEO Scott Slyfield told us he was in talks with an Ann Arbor startup called Educatrium to partner and focus on student document verification for the Chinese market. Called Credentialock China, that effort has formally launched and last month, it won the University of … Continue reading “Credentialock China to Focus on International Student Verification Market”
What’s Hot in Digital Health? The Venture Capital Perspective
The U.S. healthcare market is ripe for technical disruption. Costs are spiraling out of control while quality of service and customer satisfaction continue to go down. The system is opaque, complex and fragmented. Regulation is required but imposes heavy costs. As in other industries before it, the healthcare sector can benefit from technology-enabled efficiency gains … Continue reading “What’s Hot in Digital Health? The Venture Capital Perspective”
New Battery Cluster Caps Busy Year for U-M Research and Technology
Reserch and tech activities out of the University of Michigan have been on a roll lately. In late November, U-M announced the National Science Foundation had ranked it first in the nation in terms of research spending by a public university—$1.3 billion total during the 2011 fiscal year. The Office of Technology Transfer also published its … Continue reading “New Battery Cluster Caps Busy Year for U-M Research and Technology”
In-Car Health Monitoring: Lemon or Lifesaver?
Patient monitoring outside the hospital has been a hot topic (and also a not so hot topic) for the past 15 years. Starting back in the late 1990s with companies like Health Hero, a company whose products for patient home monitoring are still in use today, company after company has sought to bring a successful … Continue reading “In-Car Health Monitoring: Lemon or Lifesaver?”
A123 Sells Bulk of Company to Wanxiang, Feds Must Approve
A123 Systems, the bankrupt advanced-battery company bankrolled in part by federal stimulus money, has agreed to sell its commercial business to China’s largest auto-parts manufacturer. But the twisted saga of the former cleantech poster child is not over—the U.S. federal government must still approve the transaction, a potentially big political hurdle. Following a four-day private … Continue reading “A123 Sells Bulk of Company to Wanxiang, Feds Must Approve”
The Road to Predictable Innovation: Genomics in Drug R&D
There is a great need by large biotechs and pharma companies to show true and more predictable innovation. In an industry report issued just last week by Deloitte and Thomson Reuters, analysis of the top 12 pharmaceutical companies globally shows that the risk in new drug discovery have grown worse. The report notes an increasing … Continue reading “The Road to Predictable Innovation: Genomics in Drug R&D”
The Wisconsin Biotech Story: Slow and Steady Wins the Race
[Updated 1:04 pm PT] They say you can’t go home again. But sometimes you can go home after a few years and notice that your home has changed quite a bit. This past week, I went back to Wisconsin, where I’m originally from, to visit family and do some reporting. I stopped by the capitol, … Continue reading “The Wisconsin Biotech Story: Slow and Steady Wins the Race”
Coveo Garners $18,000,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=876c2404-6689-484d-ace8-a58f75e89c14&Preview=1 Date 12/10/2012 Company Name Coveo Mailing Address 945 Lakeview Pkwy. Vernon Hills, IL 60061 Company Description Coveo develops award winning enterprise secure search engine applications that deliver secure, accurate access to structured and unstructured information across the enterprise. Website http://www.coveo.com Transaction Type Venture Equity Transaction Amount $18,000,000 Transaction Round Undisclosed Proceeds … Continue reading “Coveo Garners $18,000,000 New Financing”
Swift Biosciences Strikes Licensing Deal with Vela Diagnostics
Ann Arbor, MI-based Swift Biosciences announced this week that it has signed a licensing deal with Vela Operations, the Singapore-based parent company of Vela Diagnostics. The agreement gives Vela non-exclusive rights to incorporate Swift’s myT Primer technology into its cancer detection tests. The terms of the deal were not disclosed. Founder and CEO David Olson … Continue reading “Swift Biosciences Strikes Licensing Deal with Vela Diagnostics”
SEC’s Action Against Hastings a Step Backwards
Last night, Netflix disclosed that the Securities and Exchange Commission, @sec_news if you want to follow them on Twitter, intends to institute a cease and desist proceeding and/or bring a civil injunction against Netflix and its CEO Reed Hastings for a posting he made on the social media website Facebook this summer. As an individual … Continue reading “SEC’s Action Against Hastings a Step Backwards”
Pearl Harbor: A Day That Should Live in Innovation
Almost everyone raised in America knows the story of Pearl Harbor. On the morning of December 7, 1941—71 years ago today—the Japanese Imperial Navy launched a surprise attack on the U.S. naval base at Pearl Harbor in Hawaii, claiming eight battleships and other vessels, and 2,403 military and civilian lives, nearly as many as on … Continue reading “Pearl Harbor: A Day That Should Live in Innovation”
How to Crowdfund Your Dream: Checking In on Our Kickstarter Fund
Back on Nov. 9, I published a list of 10 Kickstarter projects every geek should support, and put my money where my mouth was by creating the World Wide Wade Kickstarter Fund. I pledged $10 to each project on the list (eventually there were 13 in all), and promised that I’d return in a few weeks … Continue reading “How to Crowdfund Your Dream: Checking In on Our Kickstarter Fund”
TrendSpotting: eFood, iEat
The food industry may seem like the last bastion of brick and mortar companies, relying solely on human efforts. Think again. A new crop of entrepreneurs are taking our love of food out of the kitchen and into the digital realm. Several members of 1M/1M, our global virtual startup incubator, have created specialty brands that … Continue reading “TrendSpotting: eFood, iEat”
A123 Goes on the Auction Block: Here’s How It Got This Bad
[Update 12/10: Chinese firm wins A123 auction, feds must approve deal.] A123 Systems was supposed to be a leading light in the next phase of clean-energy innovation in the U.S.—hundreds of millions of dollars in federal grants, state-government support in Massachusetts and Michigan, deals to supply the batteries for luxury electric cars. In 2009, the … Continue reading “A123 Goes on the Auction Block: Here’s How It Got This Bad”
Restore Medical Solutions Lands $2,500,000 Series A Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=a3b1f734-acc4-48bd-9d3c-13f4816300a0&Preview=1 Date 12/6/2012 Company Name Restore Medical Solutions Mailing Address 2800 Patton Rd St Paul, MN 55113 Company Description Restore Medical Solutions has come up with a concept and system to more efficiently sterilize surgical instruments. Website http://www.restoremedicalsolutions.com Transaction Type Venture Equity Transaction Amount $2,500,000 Transaction Round Series A Proceeds Purposes The … Continue reading “Restore Medical Solutions Lands $2,500,000 Series A Round”
MakeupHaulic Receives $100,000 Seed Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=e4264764-85b0-42b3-b740-537e78964662&Preview=1 Date 12/6/2012 Company Name MakeupHaulic Mailing Address Undisclosed Cincinnati, OH 45202 Company Description The MakeupHaulic is a resource for beauty vloggers and their fans. Website http://www.makeuphaulic.com Transaction Type Accelerator Transaction Amount $100,000 Transaction Round Seed Proceeds Purposes The company will use the proceeds to accelerate its initial development. M&A Terms Venture … Continue reading “MakeupHaulic Receives $100,000 Seed Funding Round”
CitiLogics Garners $100,000 Seed Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b07f81ed-ad27-4b3e-8821-a73a0c100524&Preview=1 Date 12/6/2012 Company Name CitiLogics Mailing Address Undisclosed Cincinnati, OH 45201 Company Description CitiLogics was founded in 2009 by Jim Uber and Stu Hooper; Sam Hatchett joined the firm about a year later. Together, we have more than four decades of experience working with the water industry, and conceiving, conducting, and … Continue reading “CitiLogics Garners $100,000 Seed Financing”
CrowdSpark Obtains $100,000 Seed Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=8f5688c3-b5fe-4832-82a7-ad42b431b0ef&Preview=1 Date 12/6/2012 Company Name CrowdSpark Mailing Address PO Box 9563 Cincinnati, OH 45209 Company Description The company is an online contest platform that allows any business to design and launch an online contest site. Website http://www.crowdspark.com Transaction Type Accelerator Transaction Amount $100,000 Transaction Round Seed Proceeds Purposes The company will use … Continue reading “CrowdSpark Obtains $100,000 Seed Financing”
Gamigen Garners $100,000 Seed Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=4c83db5b-cb3e-46a4-b5a8-c47c7ed2f373&Preview=1 Date 12/6/2012 Company Name Gamigen Mailing Address Undisclosed Cincinnati, OH 45202 Company Description The company, a software developer offering 3D simulation products geared towards the health, oil and gas, mining, academic, manufacturing and public safety industries. The company specializes in the “gamification” of business and training software. Website http://www.gamigen.com Transaction Type … Continue reading “Gamigen Garners $100,000 Seed Funding”
StudentSource Secures $100,000 Seed Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=446e030e-afea-4ecb-90fd-c6831496f056&Preview=1 Date 12/6/2012 Company Name StudentSource Mailing Address 2200 Hudson Avenue Cincinnati, OH 45212 Company Description The company, an online tool that allows businesses and universities to connect through a marketplace where businesses outsource projects for university professors to review and assign to their students as class assignments. Website http://www.studentsource.com Transaction Type … Continue reading “StudentSource Secures $100,000 Seed Financing Round”
InstrumentLife Lands $100,000 Seed Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=0ff7c7cb-d4cf-4101-a5b1-daa957597b10&Preview=1 Date 12/6/2012 Company Name InstrumentLife Mailing Address Undisclosed Cincinnati, OH 45202 Company Description Every instrument has a story and InstrumentLife protects it. Our safety features and instant theft alert system, lets you secure all of your purchase, service and performance history in one online location for the life of your musical … Continue reading “InstrumentLife Lands $100,000 Seed Round”
Text and the City Receives $100,000 Seed Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=e91e2edf-beb2-48ae-9832-fc30c3f59e05&Preview=1 Date 12/6/2012 Company Name Text and the City Mailing Address Undisclosed Cincinnati, OH 45202 Company Description Text And The City is a smartphone application combined with a unique text message program that gives users access to local information, such as mobile coupons and event notifications. Website http://www.textandthecity.com Transaction Type Accelerator Transaction … Continue reading “Text and the City Receives $100,000 Seed Funding Round”