Cryptography service startup Keybase has raised $10.8 million in a Series A round led by Andreessen Horowitz, according to a blog post by founders Max Krohn and Chris Coyne. Coyne and Krohn were two of the co-founders behind New York-based dating app and website OkCupid, which is now owned by Barry Diller’s IAC. The duo met fellow … Continue reading “OkCupid Co-Founders Raise $10.8M for Crypto Service Keybase”
Category: National
EyeGate CEO: Valeant Deal Helps Company Avoid Mistakes of Past
For EyeGate Pharmaceuticals, the licensing deal it signed last week with Valeant Pharmaceuticals International provides the necessary cash to push forward a uveitis drug that has been in limbo since EyeGate raised less than expected in its initial public offering. EyeGate CEO Stephen From argues that it’s not just about the cash. It’s about the … Continue reading “EyeGate CEO: Valeant Deal Helps Company Avoid Mistakes of Past”
Techstars Alum DigitalOcean to Double Staff, Office Space with $83M
Next week, the team at DigitalOcean will move into a 30,000-square-foot office, in the same building but twice the size of its current digs, as it ramps up with more funding in hand. The New York-based company hosts cloud infrastructure, largely used by developers to build websites and apps. Along with the extra elbow room, … Continue reading “Techstars Alum DigitalOcean to Double Staff, Office Space with $83M”
CounterTack Makes Play As Competition in Endpoint Security Heats Up
Major cybersecurity breaches are back in the news and so are the companies trying to protect against them. One of those companies is Waltham, MA-based CounterTack, which today announced it has acquired ManTech Cyber Solutions International, the software division of Virginia-based ManTech International (NASDAQ:[[ticker:MANT]]). Terms of the deal were not disclosed, and it might not … Continue reading “CounterTack Makes Play As Competition in Endpoint Security Heats Up”
Madison’s “Sand Hill Building”: Four Venture Funds Together Under One Roof
Going purely by the numbers, Wisconsin is hardly an ideal place for startups seeking investment. According to the 2015 National Venture Capital Association Yearbook, companies in the Badger State raised $86.8 million in venture capital investments in 2014. That was good for 26th in the U.S. and accounted for less than 0.2 percent of the … Continue reading “Madison’s “Sand Hill Building”: Four Venture Funds Together Under One Roof”
Celgene to Acquire San Diego’s Receptos for $7.2B in Cash
[Updated 7/14/15 5:15 pm. See below.] Drug maker Celgene (NASDAQ: [[ticker:CELG]]), based in Summit, NJ, has agreed to acquire San Diego-based Receptos (NASDAQ: [[ticker:RCPT]]) in a cash deal valued at $7.2 billion, the two companies announced today. Receptos, founded in 2009 and headed by CEO Faheem Hasnain since 2010, has been developing drugs that target … Continue reading “Celgene to Acquire San Diego’s Receptos for $7.2B in Cash”
New Horizons’ Pluto Trip a Victory for Colorado Scientists, Firms
Sure, Pluto is 3 billion miles and nine years away, but the New Horizons spacecraft and the scientists behind the mission are actually quite close to home, if you live in Colorado. New Horizons flew to within 7,800 miles of the solar system’s quirky one-time planet early this morning. The fly-by was the culmination of … Continue reading “New Horizons’ Pluto Trip a Victory for Colorado Scientists, Firms”
Roundup: U-M, Grand Circus, Quicken Loans, MI Science Center & More
Here’s a look at news from around Michigan’s innovation hubs: —The Zell Family Foundation announced this week that it has pledged another $60 million to the University of Michigan’s Zell Lurie Institute for Entrepreneurial Studies at the Ross School of Business. The money will provide endowed funding for the institute and its programs for students … Continue reading “Roundup: U-M, Grand Circus, Quicken Loans, MI Science Center & More”
Tech Hiring Matchmaker HackerRank Draws $7.5M From Global HR Firm
HackerRank, which hosts online competitions that help programmers flaunt their skills to potential employers like Amazon and Quora, said today it has landed a $7.5 million investment from the funding arm of Japan-based human resources giant Recruit. The new alliance with Recruit will help Palo Alto, CA-based HackerRank scale up its business in the Asia … Continue reading “Tech Hiring Matchmaker HackerRank Draws $7.5M From Global HR Firm”
ZBB Energy Names New CEO Amid China Sales Push
Less than a week after ZBB Energy shareholders approved a proposed ownership change, the company is shaking up its leadership team. ZBB (NYSE: [[ticker:ZBB]]), a small Milwaukee-area manufacturer of renewable energy storage and power control products, promoted president and chief operating officer Bradley Hansen to the role of CEO and president. He takes over for … Continue reading “ZBB Energy Names New CEO Amid China Sales Push”
As Big Data Plateaus, DataCamp Raises $1M to Ramp Up Education
The initial entrepreneur-investor meeting went well—I think. Venture capitalist Chris Lynch met Jonathan Cornelissen in a bar in Boston’s Back Bay. It was mid-May. The pitch part of the meeting was brief. The drinking part was not. “I ended up leaving without my shirt,” Lynch says. Literally: “I had a Sqrrl shirt on,” he says, … Continue reading “As Big Data Plateaus, DataCamp Raises $1M to Ramp Up Education”
Amazon Web Services to Draw Power from North Carolina Wind Farm
When the first commercial-scale wind farm in the southeastern United States comes online in North Carolina, it will help power the cloud offerings of Amazon Web Services (AWS). AWS, the cloud services subsidiary of Seattle-based Amazon (NASDAQ: [[ticker:AMZN]]), announced Monday that it has contracted with Iberdrola Renewables to construct and operate a 208-megawatt wind farm … Continue reading “Amazon Web Services to Draw Power from North Carolina Wind Farm”
With $36M Funding, Arivale Walks Line To Push Wellness Business
They employ doctors, prescribe tests, and for $2,000 a year they’ll help you keep on top of your health, but they don’t diagnose illnesses. That’s the line new Seattle health startup Arivale wants to walk in providing “wellness” help to its customers—who, Arivale officials stress, are “participants,” not patients. “We aspire to help people optimize … Continue reading “With $36M Funding, Arivale Walks Line To Push Wellness Business”
With $21M More Funding, AnyClip Media Reopens New York Office
Israel’s AnyClip Media announced Tuesday it has raised $21 million and is reestablishing its New York office. The company has developed an online marketing platform for distributing branded videos. This is the same company co-founded by CEO Aaron Cohen and Nate Westheimer, former executive director of the New York Tech Meetup. Both Cohen and Westheimer left … Continue reading “With $21M More Funding, AnyClip Media Reopens New York Office”
Milestones Of Innovation 10: First Close-Up Of A Planet
Today, NASA’s New Horizons spacecraft, after more than nine years, 3 billion miles, and a brief view of Jupiter’s moon Io, is scheduled to capture the first close-up pictures from the distant minor planet Pluto and its flock of moons. It’s a fine way to celebrate the 50th anniversary of this kind of high-tech virtual … Continue reading “Milestones Of Innovation 10: First Close-Up Of A Planet”
New Allegations Fly in Universities’ Fight Over Alzheimer’s Study
The fight between UC San Diego and the University of Southern California over an Alzheimer’s study escalated yesterday in a flurry of legal filings, with each school seeking emergency relief by asking a judge to issue court orders against the other side. [Updated 7/14/15 1:40 pm ] San Diego Superior Court Judge Judith Hayes, who … Continue reading “New Allegations Fly in Universities’ Fight Over Alzheimer’s Study”
Seattle Roundup: Auto IT, Real Estate, Space, Smart Grids, & More
Catching up on a few items from last week, we’re following a major investment for truck-tracking technology maker Zonar Systems, local VC fundraising, a big real estate deal for Tableau Software, and an innovative new skyscraper proposed downtown. Also, partnerships for Spaceflight Networks; Pacific Northwest Smart Grid Demonstration project results; a new way for small … Continue reading “Seattle Roundup: Auto IT, Real Estate, Space, Smart Grids, & More”
Tola Ventures Raising $225M Fund for Enterprise Tech Investments
Investors in Seattle and beyond continue to be bullish on a renaissance in business computing, raising funds to back enterprise software companies, as national fundraising for venture firms hits pre-recession levels. Late last week, we reported on Ignition Venture Partners’ new “annex” fund, which could top out at $60 million (only $16.8 million raised so … Continue reading “Tola Ventures Raising $225M Fund for Enterprise Tech Investments”
U-M’s Zell Lurie Fund Invests in Reveal Design Automation
The University of Michigan’s Zell Lurie Commercialization Fund announced Friday that it has invested $50,000 in Ann Arbor, MI’s Reveal Design Automation, a university spin-out working in the area of semiconductor chip verification. Zaher Andraus, Reveal Design Automation’s CEO, said the company plans to use the money to hire more employees and pursue its first … Continue reading “U-M’s Zell Lurie Fund Invests in Reveal Design Automation”
Neos Therapeutics, Maker of ADHD Drug Delivery System, Files IPO
Neos Therapeutics, a Dallas-area biotech company, has filed to go public. The company plans to raise about $60 million by offering four million shares at a price range of $14 to $16 in an initial public offering. At the midpoint of the range, it would command a fully diluted market value of $220 million, according … Continue reading “Neos Therapeutics, Maker of ADHD Drug Delivery System, Files IPO”
Raleigh-Durham Roundup: Iberdrola, TransEnterix, Inmar, & More
Here are the latest headlines in North Carolina cleantech, biotech, and tech news: —The first commercial-scale wind farm in the South is now slated for the North Carolina coast. Spanish company Iberdrola Renewables plans to spend $600 million to erect 102 wind turbines on 22,000 acres near Elizabeth City, and could add up to 50 … Continue reading “Raleigh-Durham Roundup: Iberdrola, TransEnterix, Inmar, & More”
Analysis: NIH Guidelines Appear to Support UCSD in Alzheimer’s Study
[Updated 7/13/15 5:15 pm. See below.] It’s a little hard to score the fight after the first court hearing adjourned last week in a lawsuit between UC San Diego and the University of Southern California over a nationwide study of Alzheimer’s disease. The UC Regents filed the civil lawsuit against USC and former UCSD scientist … Continue reading “Analysis: NIH Guidelines Appear to Support UCSD in Alzheimer’s Study”
FDA Grants Blueprint Go-Ahead for Kinase Inhibitor Trials
Blueprint Medicines got the green light from the Food and Drug Administration to begin clinical trials on its two lead drug candidates for cancer, about two months after its initial public offering. The Cambridge, MA-based maker of a type of cancer drug called kinase inhibitors is using high-speed DNA sequencing instruments to test a homemade … Continue reading “FDA Grants Blueprint Go-Ahead for Kinase Inhibitor Trials”
East Coast Biotech Roundup: Biogen, Epizyme, Armored CARS, & More
Biotech continued its active summer on the east coast this week, with everything from licensing deals to acquisitions to IPOs. Here are the highlights, in case you missed them. —After four years of revamping and rebuilding Biogen’s development pipeline, R&D chief Douglas Williams announced he is leaving the company to take the helm at a … Continue reading “East Coast Biotech Roundup: Biogen, Epizyme, Armored CARS, & More”
Five Lessons Every App Startup Should Learn
Mobile devices create plenty of pitfalls for entrepreneurs. The nuances of nailing not only the on-screen user experience, but the broader experience of integrating a piece of software into one’s everyday life dramatically increases the risk of failure. As a mobile entrepreneur, you have more variables that you need to test and control in your … Continue reading “Five Lessons Every App Startup Should Learn”
The Near Death, and Second Life, of Cerulean Pharma
It’s not often that a biotech with a single drug in clinical testing can bounce back from a trial that not only fails, but bombs spectacularly. But by the skin of its teeth, Cerulean Pharma has gotten that chance. Over the next year, Cerulean (NASDAQ: [[ticker:CERU]]) will produce data from four early and mid-stage clinical … Continue reading “The Near Death, and Second Life, of Cerulean Pharma”
Ignition Partners Raising “Annex” Fund to Reinvest in “Top Prospects”
Ignition Venture Partners is raising a so-called annex fund to double-down on investments made from its fourth fund, which already has some gems in it. The firm, which earlier this year raised a $200 million sixth fund, has so far raised $16.8 million of a potential $60 million for Ignition Venture Partners IV Annex Fund, … Continue reading “Ignition Partners Raising “Annex” Fund to Reinvest in “Top Prospects””
West Coast Bio Roundup: Cowboys, UCSD v. USC, Global Blood & More
[Corrected, 7/13/15, 12.33pm. See below.] How often does one of our roundups feature a real roundup? In my In Translation column this week, I profiled San Francisco Bay Area neuroscientist Ted Yednock, who is taking on the desert to rehabilitate a cattle ranch in central Nevada (above). He and his partner are also taking on … Continue reading “West Coast Bio Roundup: Cowboys, UCSD v. USC, Global Blood & More”
Tech Bubble Talk Focuses on IPO Dearth, Overpriced Rounds, and China
The question is no longer whether we are in a tech bubble—we are—but rather what it all means for the future. And maybe the near future. Everyone seems to agree the market conditions are very different from 2000, but so what? Uber’s valuation is north of $40 billion, and the company is losing money as … Continue reading “Tech Bubble Talk Focuses on IPO Dearth, Overpriced Rounds, and China”
EyeGate Deals Treatment Rights to Valeant to Pay for Clinical Trials
EyeGate Pharmaceuticals, a Waltham, MA-based company that has been seeking FDA approval for an eye disease drug for years, is sacrificing future worldwide rights to a treatment for uveitis to get enough money from drug behemoth Valeant Pharmaceuticals International to put the therapy back on regulatory track. In exchange for an undisclosed upfront cash payment and milestones, … Continue reading “EyeGate Deals Treatment Rights to Valeant to Pay for Clinical Trials”
Astro Twists in Its Smart Light Bulbs in Connected Apartments
For all their promise of transforming homes into something out of Star Trek, connected devices are still trying to find a place in the mainstream. New York-based Astro, a graduate of the R/GA Accelerator, is building hardware and software that CEO Shaun Springer says could cast “smart homes” in a new light. His company’s platform … Continue reading “Astro Twists in Its Smart Light Bulbs in Connected Apartments”
21st Century Cures Act Passes House, Now Must Navigate Senate
The U.S. House of Representatives took a big step this morning toward major changes in the federal government’s relationship to biomedical research, funding, and regulation. The chamber passed the 21st Century Cures Act, a bill championed early on by a Democrat and a Republican, by a vote of 344-77, an astonishing percentage in this age … Continue reading “21st Century Cures Act Passes House, Now Must Navigate Senate”
Biogen R&D Chief Doug Williams Leaves to Run New Cancer Startup
Biogen’s top research and development executive Doug Williams is leaving the company this month to take the helm at a startup that doesn’t yet have a name, Biogen announced today. Williams, who joined Biogen in 2011, is being replaced for now by the company’s chief medical officer, Alfred Sandrock, and its chief science officer, Spyros … Continue reading “Biogen R&D Chief Doug Williams Leaves to Run New Cancer Startup”
Sound Band Backers, Rejoice: Thiel Says Your Device is Coming Soon
Good news for Kickstarter backers of Hybra Advance Technology’s Sound Band project: Beta test units have been shipped. Co-founder Joe Thiel said that as soon as Hybra incorporates any feasible changes requested by beta testers, Sound Band units will be sent to all the remaining Kickstarter backers—by the end of the year, Thiel said, if … Continue reading “Sound Band Backers, Rejoice: Thiel Says Your Device is Coming Soon”
After Celgene Deal, Juno Revs Armored CAR For Ovarian Cancer Trial
Juno Therapeutics has built remarkable momentum—including last week’s much-dissected $1 billion deal with Celgene—upon early success treating leukemia and lymphoma patients with a first generation of experimental T cell therapies developed by its academic partners. Now, with one of those partners, Seattle-based Juno (NASDAQ: [[ticker:JUNO]]) is about to start another landmark trial: The first test … Continue reading “After Celgene Deal, Juno Revs Armored CAR For Ovarian Cancer Trial”
Pluralsight Buys San Francisco Coding Mentorship Site HackHands
Pluralsight, an online learning company focused on high-end programming skills, said today it has acquired HackHands, a San Francisco startup that offers on-demand coding help from technology professionals. The price wasn’t disclosed. For the past two years, Utah-based Pluralsight has been building up its suite of online resources by acquisition, and now covers basic and … Continue reading “Pluralsight Buys San Francisco Coding Mentorship Site HackHands”
BioStar Ventures Raises $68.6M Fund for Med-Tech Companies
BioStar Ventures has raised a $68.8 million third fund, its largest to date, and plans to invest the money in as many as 18 emerging med-tech companies during the next five years, the firm said in a statement today. Its first two funds totaled $65 million. The firm has previously invested in 30 companies, including … Continue reading “BioStar Ventures Raises $68.6M Fund for Med-Tech Companies”
With PCSK9’s Origins In Mind, Sanofi Has UT Join Funding Program
International drug maker Sanofi has created a program to fund early drug discovery research at universities, and the Paris-based firm said today The University of Texas System is now on board, bringing the program’s total to seven institutions. Many successful or promising drugs stemmed from early work at universities, including a next-generation cholesterol-lowering treatment that … Continue reading “With PCSK9’s Origins In Mind, Sanofi Has UT Join Funding Program”
New Motive Accelerator Targets Real Estate Startups in Dallas
Dallas has a new startup accelerator—this one to boost innovation in real estate. “If you look at the last few years of tech development and adoption, a lot of it is around the physical space and geolocation,” says John Backes, co-founder of the new Motive accelerator launching in the fall. “We want to create a … Continue reading “New Motive Accelerator Targets Real Estate Startups in Dallas”
ZBB Energy Shareholders Approve Ownership Deal With Chinese Solar Firm
Shareholders of ZBB Energy, a small Milwaukee-area manufacturer of renewable energy storage and power control products, voted to approve a deal with China-based Solar Power Inc. that brings an injection of up to $70 million in capital, new orders for up to $120 million worth of ZBB products, and potential new ownership. ZBB (NYSE: [[ticker:ZBB]]) … Continue reading “ZBB Energy Shareholders Approve Ownership Deal With Chinese Solar Firm”
Gazelle Gets Profitable as Consumers Unlock Own Phones, Buy Direct
Some companies are like soap operas. You check in every year or so, and nothing seems to change—same characters, same plotlines. Gazelle isn’t one of those companies. The Boston consumer-tech firm looks a bit different every time we look. Keep in mind, Xconomy has been reporting on Gazelle since early 2008, when it was still … Continue reading “Gazelle Gets Profitable as Consumers Unlock Own Phones, Buy Direct”
Epizyme Extends Celgene Cancer Deal for $10M Upfront
Only three years after Celgene and Epizyme last inked a research collaboration deal, the partners are back at it. Celgene has agreed to pay Epizyme $10 million upfront and as much as $610 million in milestones for the option to license three drug targets Epizyme (NASDAQ: [[ticker:EPZM]]) is developing, which use its method of inhibiting … Continue reading “Epizyme Extends Celgene Cancer Deal for $10M Upfront”
Cree Bolsters Power & RF Business with APEI Acquisition
LED and semiconductor technologies company Cree has acquired Arkansas Power Electronics International, or APEI, a maker of electronics components used in power, telecommunications, and renewable energy applications, the company announced today. Cree (NASDAQ: [[ticker:CREE]]) disclosed no financial terms for the acquisition of privately held APEI. Durham, NC-based Cree said that APEI will continue to operate … Continue reading “Cree Bolsters Power & RF Business with APEI Acquisition”
SEAL Innovation Dives Into Pool Safety with Wearable Drowning Sensor
Drowning does not happen the way most people think. On television and in movies, a frantic swimmer kicks, thrashes, and shouts, says Graham Snyder, an emergency room physician. But real-life drowning is nearly silent. Drowning swimmers say nothing because they can barely breathe, Snyder explains. Rather than thrash, they bob up and down before quietly … Continue reading “SEAL Innovation Dives Into Pool Safety with Wearable Drowning Sensor”
“Global Health” Must Mean Global Health
The research community and pharmaceutical industry have made many life-saving and life-improving advances in global health over the past 20 years, and that’s certainly life-affirming news. But the time has come to ask ourselves a very pointed, and perhaps uncomfortable, question: “Are we defining ‘global health’ the right way?” And, more specifically, “How do we … Continue reading ““Global Health” Must Mean Global Health”
Wisconsin Startups Cashed in on Venture Capital Bonanza in 2014
Last year was a great one for startups nationwide trying to raise money from investors, and the venture capital boom was felt even in the normally cash-starved state of Wisconsin. Wisconsin companies grabbed more than $346 million in investment capital last year—nearly triple the $128 million raised here in 2013. The number of deals climbed … Continue reading “Wisconsin Startups Cashed in on Venture Capital Bonanza in 2014”
Cisco Acquiring Carlsbad, CA-based MaintenanceNet for $139M
Networking giant Cisco Systems (NYSE: [[ticker:CSCO]]) has agreed to pay $139 million in cash to acquire MaintenanceNet, a Carlsbad, CA, provider of Web software that generates new sales leads by analyzing a company’s service contracts with its customers. The deal includes retention-based incentives, according to a Cisco blog post announcing the buyout. The deal, expected … Continue reading “Cisco Acquiring Carlsbad, CA-based MaintenanceNet for $139M”
Tackling Sickle Cell, Global Blood Therapeutics Joins IPO Queue
With an important clinical trial underway, South San Francisco, CA-based Global Blood Therapeutics hopes to join the ranks of public biotech companies. It has filed for an IPO worth as much as $115 million, although that target could change as an offering draws closer. The news comes six months after the firm said it raised … Continue reading “Tackling Sickle Cell, Global Blood Therapeutics Joins IPO Queue”
Quire Talks Equity Crowdfunding & Title III at New York Tech Meetup
For the folks who want to invest in startups, Quire wants to be the way they get a piece of the action. Erin Glenn, CEO, demoed Quire at last night’s New York Tech Meetup (see slideshow), and also discussed how her startup’s plans relate to the continuing evolution of regulations on equity crowdfunding. “The mission … Continue reading “Quire Talks Equity Crowdfunding & Title III at New York Tech Meetup”
For Biotech Cowboys, It’s No Ride Into The Sunset
[Corrected 7/8/15, 3:48pm. See below.] Some people who’ve made it big in biotech drive fast cars. Some take outlandish vacations. Some don’t take any vacations at all. (I’m sure you know the type.) But for a few San Francisco Bay Area biotech veterans, the reward for a long, successful career is the chance to swap … Continue reading “For Biotech Cowboys, It’s No Ride Into The Sunset”