Category: National

Mega Deals (Like Uber) Boost Venture Funding to $13B

Venture capital investors pumped almost $13 billion into 1,114 U.S. startups in the second quarter—marking the highest level of VC funding in 13 years, according to the MoneyTree Report being released today. While the number of deals is comparable with recent quarters, the $12.97 billion VCs deployed this spring was a third more than the … Continue reading “Mega Deals (Like Uber) Boost Venture Funding to $13B”

Sage, Despite Industry-Wide Pullback, Scores $90M in Upsized IPO

Federal Reserve Chairwoman Janet Yellen managed to sink much of biotech this week when she called the sector overvalued in front of Congress. Yet Sage Therapeutics managed to float very well indeed, making its market debut with a better-than-expected initial public offering. Cambridge, MA-based Sage priced its IPO Thursday at $18 per share, at the … Continue reading “Sage, Despite Industry-Wide Pullback, Scores $90M in Upsized IPO”

NextView Ventures Doubles Size With $40M Second Seed-VC Fund

The surge of seed-stage investments in technology startups over the past few years has meant a pileup of companies not making it past the “Series A crunch.” And some observers are predicting the same thing will eventually happen with seed-stage venture capital funds. One Boston-based seed firm is among those surviving to write more checks. … Continue reading “NextView Ventures Doubles Size With $40M Second Seed-VC Fund”

West Coast Biotech Roundup: Genentech, CareDx, and More

The week started amid anticipation of a new round of public debuts, with six of the 11 companies queued up coming from the life sciences, according to Renaissance Capital. Then on Tuesday, the Federal Reserve singled out two sectors as overvalued: social media and biotechnology. The biotech indices dropped nearly 4 percent the next two … Continue reading “West Coast Biotech Roundup: Genentech, CareDx, and More”

Midwest VCs Hope For Replenished State Capital Funds, Despite Tight Budgets

When the Michigan Venture Capital Association (MVCA) released its annual report about the state of venture capital earlier this summer, there was plenty to be optimistic about. In 2013, Michigan bucked national trends by increasing the number of VC professionals statewide by 84 percent, compared with a 13 percent decline nationally. VC-backed companies in Michigan … Continue reading “Midwest VCs Hope For Replenished State Capital Funds, Despite Tight Budgets”

Startup Summer School: Houston’s Zodist, Luminostics, & RaptorBird

This edition of Startup Summer School brings us to RedLabs, the University of Houston’s student accelerator. I dropped into RedLabs Tuesday to speak to a few of the student entrepreneurs about their innovations in robotics, rapid medical diagnostic testing, and e-cigarettes. These entrepreneurs will join those from 13 other startups at both Houston and Rice … Continue reading “Startup Summer School: Houston’s Zodist, Luminostics, & RaptorBird”

The Microsoft Job Cuts That Really Matter: 5,500 Non-Nokia Layoffs

Microsoft’s largest-ever layoffs seem like a massive change in direction by new CEO Satya Nadella, who is leading an overdue corporate makeover at the pioneering technology company. But the smaller numbers tell the real story, and we’re not entirely sure what that means just yet. The headline for today’s layoff announcement is Microsoft cutting up … Continue reading “The Microsoft Job Cuts That Really Matter: 5,500 Non-Nokia Layoffs”

How a Little Serendipity Led Acceleron to a Crippling Blood Disease

How maddening is drug development? Sometimes, all the scientific literature in the world leads you one way, and your own data take you another. That’s why even experienced drug hunters often need a little luck to succeed. Just ask longtime industry veteran John Knopf, who had no idea his Cambridge, MA-based Acceleron Pharma, would end … Continue reading “How a Little Serendipity Led Acceleron to a Crippling Blood Disease”

Expansion of Microsoft Research—Analysis and Download of 1997 Plan

“We are about to embark on a nearly unprecedented adventure—expanding Microsoft’s investment in research by at least a factor of three.“ So begins the May 1997 memo written by Nathan Myhrvold, architect of Microsoft Research (MSR), a little over five and a half years after the renowned research organization was created. The memo, labeled Microsoft … Continue reading “Expansion of Microsoft Research—Analysis and Download of 1997 Plan”

Edico Raises $10M to Accelerate Processing of Gene Sequencing Data

San Diego-based Edico Genome has raised $10 million in Series A financing to commercialize the specialized processor technology it has been developing to slash the time and cost of genome mapping. Qualcomm Ventures, the corporate venture arm of San Diego-based Qualcomm (NASDAQ: [[ticker:QCOM]]), led the round, which was joined by Axon Ventures and Greg Lucier, … Continue reading “Edico Raises $10M to Accelerate Processing of Gene Sequencing Data”

The Name Is New, But CRV’s Money Moved to California Years Ago

With its new $393 million investment fund secured, longtime Boston venture capital firm Charles River Ventures is making its love affair with the West Coast official.  As partner Jon Auerbach noted in a blog post, the firm’s 16th fund represents the first time that the majority of its investing team is based in the San … Continue reading “The Name Is New, But CRV’s Money Moved to California Years Ago”

The Generation Gap in the Tablet Creation/Consumption Debate

The iPad launched in March of 2010 starting the modern tablet era and the debate about what tablets are best for: creation or consumption. While the iPad dominated tablet sales through 2012, in the last couple of years Android- and Windows-based tablets have eaten away at Apple’s dominance. As the tablet market grows, the creation … Continue reading “The Generation Gap in the Tablet Creation/Consumption Debate”

Seres Makes Push for First Drug, and IPO, of Microbiome Era

[Corrected 7/17/14, 10:46am. See below.] The first regulated therapy to emerge from the recent explosion of microbiome research is one step closer. And the company developing it, Seres Health, is stepping toward the first microbiome startup IPO, Xconomy has learned. The Cambridge, MA startup announced today that its lead product, made from a mix of … Continue reading “Seres Makes Push for First Drug, and IPO, of Microbiome Era”

NYCEDC Eyes VC Partners to Back Medtech, Diagnostics Startups

[Updated with comments from NYCEDC] Over the past year, the New York City Economic Development Corp. has been trying to find a venture firm to help bankroll a big fund that would spur biotech innovation in the Big Apple. While that search is still ongoing, the agency has upped the ante and is now looking … Continue reading “NYCEDC Eyes VC Partners to Back Medtech, Diagnostics Startups”

How Dan Gilbert Helped Tame the Incorrigible Rap Genius

You may have missed the story Business Insider published Friday detailing Rap Genius’s turmoil on the way to raising $40 million. Rap Genius is a New York City startup that started as a website where people on the Internet could analyze the lyrics of rap songs. Now, rebranded as Genius, the company wants to annotate … Continue reading “How Dan Gilbert Helped Tame the Incorrigible Rap Genius”

How Seragon CEO Rich Heyman Made Lightning Strike Twice

The Fourth of July was no picnic for the legal team at San Diego’s Seragon Pharmaceuticals. While other San Diegans were relaxing during the long holiday weekend, they were working through mountains of paperwork and filing notifications related to the $1.7 billion buyout offer from Genentech that Seragon had accepted a few days earlier. For … Continue reading “How Seragon CEO Rich Heyman Made Lightning Strike Twice”

Houston Energy Startups Take A Shot at Shell GameChanger Funding

Henk Mooiweer and his colleagues at Shell GameChanger usually gather behind closed doors when evaluating new investments in energy startups. But recently they opted to participate in a sort of public casting call for energy entrepreneurs that, if the pitches looked interesting, Shell would immediately pledge $25,000 of in-kind advice and assistance to help bring … Continue reading “Houston Energy Startups Take A Shot at Shell GameChanger Funding”

Valant Medical Raises $11M for Behavioral Health-Focused Software

Seattle-based Valant Medical Solutions, which makes billing and health records management software for mental health professionals, has raised $11 million to support expansion into new markets and hiring. The nine-year-old company makes cloud-based electronic health records, billing systems, and other communication and practice management tools used by some 5,000 psychiatrists, therapists, and other behavioral health … Continue reading “Valant Medical Raises $11M for Behavioral Health-Focused Software”

Superfish Aims to Dominate Visual Search, One Product at a Time

We’re awash in images. Human beings take one billion photos every day, and websites of all stripes have billions more. But most of those images vanish into the black hole of the Internet, untagged and unsearchable. Sure, people can tag each photo with names, locations and other data, but very few take the time to … Continue reading “Superfish Aims to Dominate Visual Search, One Product at a Time”

The Mid-Stage VC Funding Gap, By the Numbers

In recent years, we’ve heard a lot about the “Series A crunch” for tech startups—lots of companies get seed funding but can’t raise a first venture round. Now we’re hearing more about a mid-stage funding bottleneck, typically at the Series B and C venture stages. A recent tech funding deal in Boston highlighted the issue … Continue reading “The Mid-Stage VC Funding Gap, By the Numbers”

Pay-for-Parking App Haystack to Launch in Boston Despite City Ban

[Updated 5:15 pm with reaction, comment] Boston’s city government is not budging in its regulatory stare-down with a startup that lets drivers pay for access to public parking spots. But the company is forging ahead anyway. Haystack, a Baltimore, MD-based startup, plans to start operating in Boston on Thursday. It has scheduled a launch party … Continue reading “Pay-for-Parking App Haystack to Launch in Boston Despite City Ban”

Who Needs Biotech VCs, Anyway?

Welcome to In Translation, and thanks for reading. As a companion to Xconomy’s regular life sciences coverage, this new column provides me with a chance to dive a little more deeply into strategic, cultural, and scientific topics around the biotech world, and bring more of my own point of view to bear. I welcome and … Continue reading “Who Needs Biotech VCs, Anyway?”

Michigan Pre-Seed Fund 2.0 Makes First Investment in ENT Biotech

[Updated 7/15/14 at 4:49 p.m. See below.] The Michigan Pre-Seed Fund 2.0, a $6.8 million statewide investment fund, announced today that it has made the fund’s first investment in ENT Biotech Solutions, a Detroit-based medical device startup. The company will receive $100,000 toward the development of a surgical tool for use in tonsil, adenoid, and … Continue reading “Michigan Pre-Seed Fund 2.0 Makes First Investment in ENT Biotech”

Techstars Boulder Welcomes 13 Startups to Latest Accelerator Program

Techstars has announced the 13 startups that made the cut for selection to this year’s Boulder program. The startups begin work today and have three months to work on their products, meet with mentors, and refine their pitches to investors. Nicole Glaros, who is back in charge after helping to manage Techstars New York for … Continue reading “Techstars Boulder Welcomes 13 Startups to Latest Accelerator Program”

CPRIT Executives Outline Cancer-Fighting Priorities in Houston Visit

Executives from the Cancer Prevention and Research Institute of Texas were in Houston recently, updating the technology and life sciences community on the agency’s progress and future goals midway through its first year as a reformed institute. “Will we cure cancer? I think we will,” said Wayne Roberts, CPRIT’s executive director. “I think we will … Continue reading “CPRIT Executives Outline Cancer-Fighting Priorities in Houston Visit”

Galvanize Ventures Closes $10M Seed Fund With Eye to Change Venture

The vision behind Galvanize has always been, in the words of its co-founder and CEO Jim Deters, “f—ing audacious.” The latest evidence is the $10.2 million fund raised by Galvanize Ventures to make seed and early stage investments in startups around the country—and, in the eyes of Deters and company, put a new twist on … Continue reading “Galvanize Ventures Closes $10M Seed Fund With Eye to Change Venture”

Roundup: Accelerate MI, Beringea, Compuware, LevelEleven & More

Here’s a look at news from around Michigan’s innovation hubs: —I’ve publicly expressed my dismay toward lazy reporting about Detroit on the part of the national media, so it’s only fair to offer praise when praise is due. The New York Times took another foray into Detroit for a lengthy piece in the Times magazine … Continue reading “Roundup: Accelerate MI, Beringea, Compuware, LevelEleven & More”

First Esri Climate Resilience App Challenge: Who’ll Start the Reign?

The 34th annual Esri users conference begins today at the San Diego Convention Center, drawing geography techies from more than 90 countries to share their ideas and insights in the use of Redlands, CA-based Esri’s mapping software. Last year, more than 13,500 people attended the five-day conference, which offers a wide range of sessions on … Continue reading “First Esri Climate Resilience App Challenge: Who’ll Start the Reign?”

Birchbox Goes Bricks-and-Mortar with Store in SoHo

Another player in e-commerce has opened up a real-world outlet. Birchbox in New York took the wraps off its first retail location, set in the SoHo district of the city, on Friday. Since its founding in 2010, Birchbox has offered a monthly, online subscription service for curated samples of beauty products, and has built up … Continue reading “Birchbox Goes Bricks-and-Mortar with Store in SoHo”

Stealth Mode is the New Sweet Spot for Some Biotechs

This post was co-authored by Sultan Meghji. In biotech’s early days, telling a story to a wide audience used to be part of the path to success. Founders would share a compelling early narrative to potential investors, reporters, and just about anyone else who would listen. Nature papers were the coin of the realm. But … Continue reading “Stealth Mode is the New Sweet Spot for Some Biotechs”

Wisconsin Roundup: ‘Shark Tank,’ 1 Million Cups, Promega, & More

To start off your week, here’s a few recent notable developments in Wisconsin’s technology and innovation community: —Promega continues to expand its Madison-area headquarters. The global manufacturer of biological research products, including enzymes and proteins, broke ground last week on a $30 million, 100,000-square-foot packaging and shipping facility expected to open next year, the Wisconsin … Continue reading “Wisconsin Roundup: ‘Shark Tank,’ 1 Million Cups, Promega, & More”

Craft Kit Maker Darby Smart Takes on Supply Goliath Michaels

After Nicole Shariat Farb got married in 2011, she wanted to make the thank-you notes she sent to guests herself. Armed with inspiration from Pinterest, she headed to crafting supply store Michaels and Paper Source to pick up supplies and got to work. After investing some time and money into the cards, her final product … Continue reading “Craft Kit Maker Darby Smart Takes on Supply Goliath Michaels”

Seattle Roundup: Big Numbers, UW Incubator, Trupanion, Cray, & More

This week we’re reviewing reports on Northwest funding activity and Seattle building activity, both indicators—leading or trailing?—of the tech economy’s strength. We’ve also got details on an accolade for the University of Washington’s commercialization efforts, Trupanion’s IPO plans, deals for Cray and Concur, and Flowboard’s next move: —Here are a couple of very big numbers … Continue reading “Seattle Roundup: Big Numbers, UW Incubator, Trupanion, Cray, & More”

NanoSteel Inks Deal with Lincoln Electric, Readies Automotive Trials

NanoSteel, a Providence, RI-based company focused on developing iron-based alloys for the auto, mining, power, and oil and gas industries, has announced a licensing deal with Lincoln Electric for a steel coating technology used in weld overlays and thermal spray applications. The terms of the deal were not disclosed. Lincoln Electric, based in Cleveland, OH, … Continue reading “NanoSteel Inks Deal with Lincoln Electric, Readies Automotive Trials”

Boston Tech Deals: Erecruit, Procyon, Robin, Canary

We’ve got tech companies raising money, a small startup’s team joining a big tech name, and a new mini-VC fund in this week’s collection of Boston-area news briefs: —Erecruit, a Boston-based developer of software for professional staffing companies, has raised $25 million in its first institutional investment round. North Bridge Growth Equity led the investment. … Continue reading “Boston Tech Deals: Erecruit, Procyon, Robin, Canary”

East Coast Biotech Roundup: Regeneron, Sarepta, Jounce, & More

Data that impressed. Data that disappointed. Regulatory strangleholds. Dramatic swings in stock prices. All of it made for just another wild week in East Coast biotech. We’ve got the details below. —Tarrytown, NY-based Regeneron Pharmaceuticals (NASDAQ: [[ticker:REGN]]) made a big splash last year with an experimental antibody drug, dupilumab, it believes could hit the root … Continue reading “East Coast Biotech Roundup: Regeneron, Sarepta, Jounce, & More”

Austin’s Tracking Point Uses Wi-Fi, Video Tech to Build Smarter Gun

It’s like a video game come to life. Tracking Point, based in an Austin, TX, suburb, has developed a firearms technology that allows shooters to harness the power of Wi-Fi, the Web, and streaming video for the kind of long-range precision shooting that can guide bullets to hunting or military targets around corners. The company’s … Continue reading “Austin’s Tracking Point Uses Wi-Fi, Video Tech to Build Smarter Gun”

New Jounce CEO Aims to Place the Right Immuno-Oncology Bets

Jounce Therapeutics’ founding idea—to simultaneously tackle several different immune-system-based approaches for treating cancer—could be both a blessing and a curse. On one hand, the Cambridge, MA-based startup could unearth a number of programs Big Pharma could find attractive enough to partner, and bring in some big dollars. On the other, Jounce could spread itself too … Continue reading “New Jounce CEO Aims to Place the Right Immuno-Oncology Bets”

Boston Vs. San Francisco: Two Cultures of Innovation

Let’s say you’re an ambitious, creative professional or entrepreneur working in the United States. You’re interested in technology, you have the luxury of mobility, and you want to be close to the center of things. Which city should you choose as your home? If you’re attracted to a specific sub-field, the answer may be obvious. … Continue reading “Boston Vs. San Francisco: Two Cultures of Innovation”

As Biofuels Lose Luster, Sapphire Goes Long with Sinopec Deal

In a ceremony held Thursday in Beijing, San Diego’s Sapphire Energy and Sinopec, China’s state-owned oil and gas conglomerate, agreed to work together to develop and produce algae-based biofuels in China. “The goal is to build a large demonstration facility here with Sinopec,” Sapphire spokesman Tim Zenk said last night from Beijing in a phone … Continue reading “As Biofuels Lose Luster, Sapphire Goes Long with Sinopec Deal”

West Coast Biotech Roundup: Scripps, Trounson, Versant, Gilead, & More

The big news out west this week revolves around institutional drama. In San Diego, the faculty at The Scripps Research Institute has taken issue with merger talks that the president and board have had with the University of Southern California. The Union-Tribune advanced the story late last week, and Scripps acknowledged Wednesday that the talks … Continue reading “West Coast Biotech Roundup: Scripps, Trounson, Versant, Gilead, & More”

Road Test: Ministry of Supply’s High-Tech Shirts Hold Up In the Heat

Summer in the Northeast leaves its mark everywhere you look. For men, that means plenty of glistening forearms, grubby necks, and painterly splotches on the backs of shirts. We’re talking about sweat here. And if you’re walking more than a couple of blocks in any city with a hot, humid climate, you’re going to have … Continue reading “Road Test: Ministry of Supply’s High-Tech Shirts Hold Up In the Heat”

Big Late-Stage Deals and Unicorns Drive U.S. Venture Activity Higher

Two years ago, VC firms shrugged off sluggish economic conditions to invest $8.1 billion in 812 U.S. deals in the second quarter. It was the highest total in more than a decade—and represented a high water mark for venture dollars invested that stood until the first quarter of this year. Now a surge in venture … Continue reading “Big Late-Stage Deals and Unicorns Drive U.S. Venture Activity Higher”

Doctors Avoid Social Media at Work, and Who Can Blame Them?

Forty-four percent of U.S. doctors surveyed don’t use social media for work, and 29 percent say they don’t use it at all. The top reasons cited? Concerns about privacy and time, two notions that most people gave up on long ago. Those findings are in the latest report from MedData Group, a healthcare marketing company … Continue reading “Doctors Avoid Social Media at Work, and Who Can Blame Them?”

State Grants Position Washington as Energy Storage Player

Washington state is staking a claim in the growing utility energy storage industry, tapping state and federal research, public and private funding, and entrepreneurship to develop and test new batteries that could help transition the electricity system away from polluting power sources. Gov. Jay Inslee, a Democrat who has made combating climate change a signature … Continue reading “State Grants Position Washington as Energy Storage Player”

Sun Continues to Shine for Denver Social Media Startup Wayin

It wasn’t a surprise when Wayin, the Denver-based social media startup co-founded by former Sun Microsystems CEO Scott McNealy, announced Wednesday it just closed a $13.1 million Series C round. Wayin’s fundraising news has been out there since last month, when the company filed documents with the SEC after partially closing the round. But the … Continue reading “Sun Continues to Shine for Denver Social Media Startup Wayin”

Regeneron, Sanofi Drug Holds Up in Eczema Study

Regeneron Pharmaceuticals made a big splash last year with a drug prospect it believes just might hit the root cause of several allergic diseases. Today, it’s backing up that thesis with some new data showing that the drug might have a place treating one of the world’s most common skin disorders. Tarrytown, NY-based Regeneron (NASDAQ: … Continue reading “Regeneron, Sanofi Drug Holds Up in Eczema Study”