Why would anybody want to build a biotech company to last? Isn’t that old-school? Doesn’t it make more sense to run lean and mean, hit a technical milestone, then sell the company to the highest bidder? Given the difficult state of biotech venture financing, it’s hard to blame entrepreneurs for trying to find new models … Continue reading “Building Biotechs to Last: The Photos”
Category: National
Swoop: Taking a Cue from Google to Make Web Ads Suck Less, Pay More
Banner ads are nearly 20 years old, and they’re not really getting better. It’s widely accepted that almost nobody clicks on them, at least on purpose. But their cheap prices and endless volume have continued to attract billions of dollars in annual marketing budgets anyway. Cambridge, MA-based startup Swoop thinks it can help fight the … Continue reading “Swoop: Taking a Cue from Google to Make Web Ads Suck Less, Pay More”
There May Be More to the FDA/23andMe Story Than Meets the Eye
Consumers and life science startup companies alike are reacting strongly to the recent decision by the FDA to restrict the genetic testing company, 23andMe, from marketing its genetic testing service. In our day-to-day work, we are frequently approached with a gamut of regulatory questions from both large and small life science companies navigating the intersection … Continue reading “There May Be More to the FDA/23andMe Story Than Meets the Eye”
Techstars’ David Cohen Talks Fintech, Managing Directors, and Growth
If you want to know why the Techstars accelerator is partnering with Barclays, a U.K. bank, on a new London-based startup accelerator, take a look in your pocket. No, not at your cash or wallet. Look at your iPhone or Android. Smartphones have replaced watches, cameras, planners, notebooks, landline telephones, some categories of computers—and, in … Continue reading “Techstars’ David Cohen Talks Fintech, Managing Directors, and Growth”
Filip Technologies, eGifter, & Simulmedia Get Cash for the Holidays
Santa’s big red bag opened a little early for a few New York startups. Filip Technologies, maker of a smartwatch-style phone and GPS locator for kids, said Wednesday it raised $8 million from new investors including KEC Venture, Horizon Ventures, and The Social+Capital Partnership. London-based Filip has its U.S. headquarters in New York City and … Continue reading “Filip Technologies, eGifter, & Simulmedia Get Cash for the Holidays”
Vista Equity Laying Groundwork to Move Three San Diego Companies
Vista Equity Partners, the private equity firm that spent $2.8 billion this year acquiring San Diego’s Active Network, Websense, and Omnitracs, intends to move all three companies to Texas, according to a source in senior management who is familiar with the plans. The relocation would be completed in 2014, affecting a total of up to … Continue reading “Vista Equity Laying Groundwork to Move Three San Diego Companies”
MyPad’s Sister App FamilyControls Lets Parents Limit Facebook Access
In Mark Zuckerberg’s world, if you’re 13 or older, you’re mature enough to use Facebook. Some parents would probably disagree. “If a parent gives a child access to Facebook, it’s essentially all or nothing,” says Cole Ratias, founder and CEO of Loytr, a San Francisco-based developer of mobile apps. Once an unsupervised teen has signed … Continue reading “MyPad’s Sister App FamilyControls Lets Parents Limit Facebook Access”
Roundup: UIEvolution, Shippable Score Funds; Outerwall Layoffs & More
Following the big $32 million funding round for Chef, another Seattle-area company working on automating software development—Shippable—has scored funding. Also in this week’s roundup: More investment for UIEvolution; cost- and job-cuts at kiosk operator Outerwall; a changing landscape in Seattle’s broadband market; and a development partnership for Optimum Energy. Read on for details: —Kirkland, WA-based … Continue reading “Roundup: UIEvolution, Shippable Score Funds; Outerwall Layoffs & More”
Mandy Ginsberg Teaches Tutor.com Lessons in Connecting with Consumers
It keeps getting easier to find help with schoolwork—some good, some less so—thanks to technology, and Mandy Ginsberg thinks tutoring is on the cusp of a transformation. Her bullishness is to be expected; she’s CEO of New York-based Tutor.com, after all. The company, owned by IAC, lets students connect with tutors in `round-the-clock online sessions. … Continue reading “Mandy Ginsberg Teaches Tutor.com Lessons in Connecting with Consumers”
Imergy’s Flow Battery Reboot Offers New Option for Grid Storage
Wind turbines and solar panels are great for extracting “free” energy from the environment, especially in remote areas with no access to the power grid. But their big limitation is that they’re intermittent—they supply electricity only when the wind is blowing or the sun is shining. Renewable-energy developers have long assumed that somebody, somewhere, would … Continue reading “Imergy’s Flow Battery Reboot Offers New Option for Grid Storage”
Everything You’ve Wanted to Know About Americans But Were Afraid to Ask
Last month, we told you about the Global Talent Retention Initiative’s report that Michigan is poised to become a hot spot for global talent because of its popularity with international students, particularly those studying science, technology, engineering, and mathematics (STEM). With that in mind, a group of Michigan State University journalism students published a book … Continue reading “Everything You’ve Wanted to Know About Americans But Were Afraid to Ask”
See You at “Healthcare Gets Personal” on Thursday in Kendall Square
We are all set for another great event in Boston. “Healthcare Gets Personal” is about the convergence of genomics, analytics, and portable/wearable devices in driving healthcare, personal medicine, and behavior change. It’s all taking place at Google’s offices in Kendall Square (4th floor), from 4-6 pm on Thursday, Dec. 12, and it’s going to be … Continue reading “See You at “Healthcare Gets Personal” on Thursday in Kendall Square”
U.S. IPO Activity in 2013 on Track for Highest Level in 9 Years
As the IPO counter continues to roll, the EY accounting firm says it estimates 2013 will ring up a total of 222 U.S. IPOs (or maybe 223), with cumulative proceeds generating a total of about $59.7 billion. EY has counted 211 IPOs as of yesterday, and 10 more IPOs are on the calendar for this … Continue reading “U.S. IPO Activity in 2013 on Track for Highest Level in 9 Years”
Cleantech’s New Economics and the U.K.’s Electric Superbike
Investment is down, new capacity is up, and negative press has everyone twisted and turned around—it’s been a roller coaster ride for the cleantech industry. That ride’s not likely to stop any time soon, from what I saw last week at the National Renewable Energy Laboratory’s annual industry growth forum, an event that brought together … Continue reading “Cleantech’s New Economics and the U.K.’s Electric Superbike”
Boston Roundup: FirstFuel, ownCloud, Lagoa, Novomer
A quick trip through some cleantech, software, and materials fundraising news around the region: —FirstFuel Software, which specializes in energy-efficiency analysis for commercial buildings, has raised an $8.5 million Series B investment. The Lexington, MA-based company says new and existing investors supplied the money, including German utility E.ON. FirstFuel has now raised a total of nearly … Continue reading “Boston Roundup: FirstFuel, ownCloud, Lagoa, Novomer”
Savient Pharma Sells to GTCR-Backed Crealta For $120M
Savient Pharmaceutials was finally able to woo some buyers and stoke up its price. Unfortunately, all that action took place in bankruptcy. Bridgewater, NJ-based Savient said today that it’s reached a deal to sell itself to Crealta Pharmaceuticals, a recently-created specialty pharmaceutical company based in Lake Forest, IL. Crealta has agreed to pay $120.4 million … Continue reading “Savient Pharma Sells to GTCR-Backed Crealta For $120M”
E-Retail Startups Aim to Make Holiday Shopping Easier, Texas Style
It doesn’t seem like the “most wonderful time of the year” when you’re trapped in a slow vehicular death march in a mall parking garage, looking for that one available spot—as the radio station blares “The Little Drummer Boy” for the 4,349th time. It’s enough to bring out the Scrooge in all of us. But … Continue reading “E-Retail Startups Aim to Make Holiday Shopping Easier, Texas Style”
Teen Trio Builds Stoodle, a Two-Way Whiteboard App for Homework
When I requested an interview last week with Stoodle CEO Arjun Mehta, the startup’s PR rep told me he wouldn’t be free until Sunday. The reason? He was busy studying for the SAT. “It went pretty well,” Mehta told me after the Saturday-morning exam. “All that studying helped.” He’ll find out his scores in about … Continue reading “Teen Trio Builds Stoodle, a Two-Way Whiteboard App for Homework”
XL Hybrids Hauls In $3M From WindSail to Electrify Fleet Vehicles
[Updated 11:05 am] What does $10 million buy you in alternative energy and transportation? Not much, these days. But if you’re XL Hybrids, it gets you about halfway to profitability. At least if you believe co-founder and president Tod Hynes. The Boston company, which makes hybrid electric powertrains for commercial vehicles, has just raised $3 … Continue reading “XL Hybrids Hauls In $3M From WindSail to Electrify Fleet Vehicles”
Assure360: Expanding Its Business Around a Private Cloud
In September, the Farmington Hills, MI-based IT support firm NDeX rebranded and relaunched as Assure360 with a new mission: to provide private, cloud-based data management to companies in highly regulated industries like banking, legal, and insurance. It’s an interesting company to watch as it settles into a broader and more ambitious sales strategy. “We were … Continue reading “Assure360: Expanding Its Business Around a Private Cloud”
Novartis, Gilead, Genentech & More: An ASH 2013 Wrap-Up
Advances in the treatment of blood cancer were in the news this week. If you missed some of the signal while seeing a lot of noise from press releases, tweets, and analyst reports coming from the American Society of Hematology conference, don’t feel bad. There weren’t a whole lot of major new revelations that I … Continue reading “Novartis, Gilead, Genentech & More: An ASH 2013 Wrap-Up”
Mars One Foundation Picks Lockheed Martin to Develop First Landing Plan
It’s “Mars or Bust” for the nonprofit Mars One foundation, which seeks to lead the first privately funded mission to the Red Planet, and the path to the Martian surface will go through Colorado. Mars One’s long-term goal is to create a permanent human settlement on Mars, but first it needs to prove it can … Continue reading “Mars One Foundation Picks Lockheed Martin to Develop First Landing Plan”
Accelrys Acquires Irish Software Developer Qumas for $50M
San Diego scientific software developer Accelrys (NASDAQ: [[ticker:ACCL]]) says it has paid about $50 million in cash to acquire Qumas, an Irish specialist in compliance and quality management software. The aquisition marks the fifth deal for Accelrys over the past two years, beginning with its $35 million buyout of Hopkinton, MA-based VelQuest and $30 million … Continue reading “Accelrys Acquires Irish Software Developer Qumas for $50M”
Artiphon’s Music Maker Gives New Meaning to “One-Man Band”
Its shape and sound harken back to a lap steel guitar, but also a violin—unless it is held like a cello. Hang on to that confusion for a minute and gander at the Instrument 1 from Artiphon. With its hardwood construction, virtual strings, and a port for a mobile device, this odd-looking gadget can be … Continue reading “Artiphon’s Music Maker Gives New Meaning to “One-Man Band””
Austin’s Zebra Imaging Closes $5M Loan to Boost Retail 3-D Holograms
Zebra Imaging closed on $5 million in a planned $5.2 million debt financing obtained, in part, to see the company through the budgetary chaos of the federal government’s two-week shutdown in October. Chuck Scullion, Zebra’s CEO, called the deal “a bridge loan to ease over that timing.” The cash is important since Zebra’s primary customers … Continue reading “Austin’s Zebra Imaging Closes $5M Loan to Boost Retail 3-D Holograms”
Crowd Deluges San Diego’s First Mini Maker Faire: An Xconomy Slideshow
Organizers of the San Diego Mini Maker Faire were unsure what kind of a turnout they would get for the city’s first day-long festival of invention, held Saturday at the Del Mar Fairgrounds just north of San Diego. By Friday, only about 300 people had registered online and organizers fretted that they might not get … Continue reading “Crowd Deluges San Diego’s First Mini Maker Faire: An Xconomy Slideshow”
How Do You Want to Spend the Next Four Years of Your Life?
As our Lean LaunchPad for Life Sciences class winds down, a good number of the 26 teams are trying to figure out whether they should go forward to turn their class project into a business. Given that we’ve been emphasizing evidence-based entrepreneurship and the Investment Readiness Level, I guess I shouldn’t have been surprised when … Continue reading “How Do You Want to Spend the Next Four Years of Your Life?”
Calling All Detroit Kids: Learn How to Be an Entrepreneur
Thanh Tran, a serial entrepreneur and champion of Detroit’s startup community, has just launched a new venture called Kidpreneur, which is also the latest winner of D:Hive’s Pilot program. Kidpreneur will offer classes to tweens, where they’ll learn about Web design, coding, robotics, and the “lean startup” philosophy of entrepreneurship from expert instructors like Tran. Kidpreneur … Continue reading “Calling All Detroit Kids: Learn How to Be an Entrepreneur”
MSpy Casts a Watchful Eye on Mobile Devices, Plans Move to New York
Trust can be a fickle thing, especially when it comes to mobile communication. These personal gadgets let people capture and share information that, in the wrong hands, might do harm. They can also expose bad behavior in the making. The co-founders of mSpy say that’s what prompted them to build technology for keeping tabs on … Continue reading “MSpy Casts a Watchful Eye on Mobile Devices, Plans Move to New York”
Hologic Names New CEO, Cuts Deal With Icahn to Avoid Proxy Fight
Apparently, Hologic was in no mood to wage a proxy war with Carl Icahn. Bedford, MA-based Hologic (NASDAQ: [[ticker:HOLX]]) today shook up its leadership. First, it named a new president and CEO to lead a turnaround effort: longtime Stryker (NYSE: [[ticker:SYK]]) CEO Stephen MacMillan. And separately, rather than engage in a messy public battle with … Continue reading “Hologic Names New CEO, Cuts Deal With Icahn to Avoid Proxy Fight”
The Problem with Bitcoin
One purpose of writing this piece is a vague hope of being proven wrong by some economist who knows better than me. That would be nice. Because what I have come to think about Bitcoin is not nice. Before writing this piece, I presented my common-sense critique to Bitcoin proponents, and so far nobody has … Continue reading “The Problem with Bitcoin”
Colorado Tech Industry Driving Job Growth, Despite Talent Shortage
Colorado’s top economists and business leaders expect the state’s economic growth will continue into 2014, and they believe high tech industries such as aerospace and software development will lead the way. In fact, the industries are expected to do so well, they might have more job openings than qualified people to fill them. That’s according … Continue reading “Colorado Tech Industry Driving Job Growth, Despite Talent Shortage”
See You at “Building Biotechs to Last” This Afternoon in SF
The Xconomy team is getting ready to head over to Genentech Hall on the UCSF Mission Bay campus this afternoon for “Building Biotechs to Last.” Almost 200 people are registered for this event, but we still have a few tickets remaining at the door. Registration and networking starts at 1 pm. The program, which consists … Continue reading “See You at “Building Biotechs to Last” This Afternoon in SF”
Proteostasis, Biogen Team up on Protein Homeostasis Drugs
Proteostasis Therapeutics has just gotten some big-name help to try to tackle neurodegenerative diseases like Alzheimer’s and Parkinson’s. Cambridge-based Proteostasis has inked a deal with Biogen Idec (NASDAQ: [[ticker:BIIB]]) to develop drugs that could treat certain neurodegenerative disorders by blocking an enzyme known as Usp14 . Proteostasis is getting an unspecified upfront payment and equity … Continue reading “Proteostasis, Biogen Team up on Protein Homeostasis Drugs”
With $32M, Opscode Becomes ‘Chef’ and Serves ‘New IT’ Platform
The fast-growing Seattle software maker formerly known as Opscode is building a broad platform to serve up a new model of enterprise IT, not just a tool for automating cloud computing deployments. That’s part of the reason the company is adopting Chef as its new name. And the opportunity inherent in a platform that serves … Continue reading “With $32M, Opscode Becomes ‘Chef’ and Serves ‘New IT’ Platform”
Alexis Borisy to Lead George Church Chat at Our 12/12 Health Event
We’re getting very excited about our upcoming Healthcare Gets Personal event, which will take place this Thursday afternoon at Google’s offices in Kendall Square. And the event keeps getting better (see agenda here): Third Rock Ventures’ Alexis Borisy is joining the event to moderate the keynote chat with pioneering Harvard genomics scientist and entrepreneur George … Continue reading “Alexis Borisy to Lead George Church Chat at Our 12/12 Health Event”
Q&A: Behind Ignyta’s New Strategy on Cancer Drugs and Diagnostics
Not many biotech startups can reinvent themselves, but San Diego’s Ignyta has executed a series of strategic changes over the past eight months that have set the company on a new course. Ignyta, founded in August 2011 by Jonathan Lim and Gary Firestein, set out to develop new diagnostic tests for rheumatoid arthritis and other … Continue reading “Q&A: Behind Ignyta’s New Strategy on Cancer Drugs and Diagnostics”
12 Things the Pharma Industry Can Do to Rebuild Real Public Trust
Remember when Merck was the most admired company in America? When pharmaceutical companies ranked among the most respected of all industries, because of their achievements for human health and well-being? I don’t. I was born in 1975, putting me smack in Generation X. I started paying attention to the business of biomedical innovation, as a … Continue reading “12 Things the Pharma Industry Can Do to Rebuild Real Public Trust”
Connect Honors Roth, Highlights Product Innovation in San Diego
Connect, the nonprofit supporting entrepreneurship and innovation throughout the San Diego region, offered a final heartfelt goodbye to the late Duane Roth today as part of its 26th annual awards luncheon for the most innovative products introduced over the past year. Roth led Connect for nearly seven years before his untimely death on Aug. 3 … Continue reading “Connect Honors Roth, Highlights Product Innovation in San Diego”
Roundup: Clarity Health Services, Nurego, Concurix Score Funds, & More
The jaw-dropping $120 million Series A for Juno Therapeutics earlier this week will rank among the biggest Seattle stories of the year. In its shadow, a handful of other notable deals emerged this week, including funding for Clarity Health Services, Nurego, and Concurix, and the acquisition of MeritShare. Meanwhile, 3Tier is opening some of its … Continue reading “Roundup: Clarity Health Services, Nurego, Concurix Score Funds, & More”
Gilead Wins FDA Approval for Big Hepatitis C Drug
Gilead Sciences can now start going to work on commercializing the drug it paid $11 billion to get a couple years ago. The Foster City, CA-based biotech company (NASDAQ: [[ticker:GILD]]) said today it has gotten FDA clearance to start selling sofusbuvir (Sovaldi) as a new treatment in the U.S. for people with chronic hepatitis C … Continue reading “Gilead Wins FDA Approval for Big Hepatitis C Drug”
Apollo Endosurgery Highlights Austin’s Growing MedTech Cluster
The startup spotlight in Austin has long focused on the city’s techie scene of software startups, app developers, and the like, but a medtech community has been developing, too. And Dennis McWilliams, who currently runs Apollo Endosurgery, has been along for much of that growth. From his days working at the University of Texas’ IC² … Continue reading “Apollo Endosurgery Highlights Austin’s Growing MedTech Cluster”
Layoffs Hit Optimer Following Cubist Buyout
Cubist Pharmaceuticals may have added some punch to its antibiotics portfolio by buying Optimer Pharmaceuticals a few months ago, but as is often the case with M&A deals, the buyout is also precipitating a lot of job cuts. The Jersey Journal reported today that Cubist is laying off as many as 177 employees of Jersey … Continue reading “Layoffs Hit Optimer Following Cubist Buyout”
Roundup: Rally’s Results, Zayo’s $150M Refi, and Startup Week’s Return
Rally Software’s roll continued this week, with the company’s latest quarterly revenue beating expectations while CEO Tim Miller earned an award for being Colorado’s top CEO. The Boulder-based software development company (NYSE: [[ticker:RALY]]) announced late Thursday a 28 percent year-to-year revenue increase for its most recent quarter, which ended Oct. 31. The company, which went … Continue reading “Roundup: Rally’s Results, Zayo’s $150M Refi, and Startup Week’s Return”
East Coast Biotech Roundup: Juno, Editas, Celgene, & More
The holidays are in full swing, as are some big startup ideas that have had the biotech world buzzing over the past few weeks. Those stories and more as the roundup returns from a Thanksgiving break: —Juno Therapeutics earned the distinction this week of having one of the largest bets ever placed on a biotech … Continue reading “East Coast Biotech Roundup: Juno, Editas, Celgene, & More”
High-Tech Holidays: The Xperience Gift Guide, 2013 Edition
Wait, what? Cyber Monday was four days ago, and you still haven’t finished your holiday gift buying? Don’t worry, we haven’t either. But we thought we’d take some time away from our busy shopping schedules to help you find the best presents for the gadget geeks in your life. In the slideshow above, we’ve collected … Continue reading “High-Tech Holidays: The Xperience Gift Guide, 2013 Edition”
San Diego Life Sciences Roundup: Ignyta, Conatus, Liver Prize & More
Rust never sleeps, and neither does the news. Here’s my wrap-up of the latest developments from San Diego’s life sciences community. —San Diego-based Ignyta, which trades over the counter under the ticker symbol RXDX, said it has raised a total of $54 million through two private placements. Ignyta, which intends to move to the Nasdaq … Continue reading “San Diego Life Sciences Roundup: Ignyta, Conatus, Liver Prize & More”
Detroit’s H2bid Earns Silicon Valley Accolades, Prepares to Expand
The Detroit-based startup H2bid.com—an e-bidding site that maintains, according to the company, the world’s largest online clearinghouse of water utility contract opportunities—recently made some waves in Silicon Valley. Company founder and CEO Glenn Oliver says H2bid was invited to be part of a startup expo in Menlo Park, CA, hosted by SV Forum. Fifty companies participated … Continue reading “Detroit’s H2bid Earns Silicon Valley Accolades, Prepares to Expand”
Tesla Investor’s Enduring Lessons for Cleantech (and Other) Startups
In just 10 years, Tesla Motors has become a symbol of automotive excellence and an iconic company for risk-taking and determined entrepreneurs everywhere. But according to director and early investor Ira Ehrenpreis, it wasn’t always that way. Ehrenpreis is a general partner at Technology Partners, a Palo Alto, CA-based venture capital firm. He specializes in … Continue reading “Tesla Investor’s Enduring Lessons for Cleantech (and Other) Startups”
FDA’s Culture Is Genetically Dominant Over 23andMe’s Business Model
I’ve been following the 23andMe saga with dread and fascination and frustration since it hit in late November. If you’re not up to date, David Dobbs has the canonical collection of stories to get you there. This is a post about business models and culture clashes. It’s long. I should also start by disclosing that my former … Continue reading “FDA’s Culture Is Genetically Dominant Over 23andMe’s Business Model”