San Diego-based Lumena Pharmaceuticals says today it has raised $23 million in a Series A round that is intended to carry the company through mid-stage trials of its lead drug candidate for treating a rare group of metabolic disorders that cause bile acid to build up in the liver. Advancing the drug, LUM001, as a … Continue reading “Lumena Raises $23 Million to Advance Drug for Rare Liver Diseases”
Category: National
Will $28M in Debt Financing Push Good Start Genetics to Big Finish?
Six years ago, Good Start Genetics was just an idea in the genetics research labs of Harvard. Today, it is a full-fledged company with more than 85 employees, a diagnostic testing system on the market, and now another $28 million in its pocket to continue growing. Capital Royalty, a Houston, TX-based investment firm that works … Continue reading “Will $28M in Debt Financing Push Good Start Genetics to Big Finish?”
Exit Early and Often: A New Age of Limited Options for Entrepreneurs
I rarely meet an entrepreneur (or one of their investors) who doesn’t believe their venture will be a runaway hit. In three to five years, I hear over and over, we’ll be able to go public or sell big, providing huge returns for those who got into the deal early. Many won’t reach that mark. … Continue reading “Exit Early and Often: A New Age of Limited Options for Entrepreneurs”
Genomic Health Test Aims To Cut Overtreatment of Prostate Cancer
Many men in the U.S. hear the words “prostate cancer” and freak out. They want to fight. But a lot of times, the aggressive treatments they demand are unnecessary, expensive, and cause all kinds of unhappy side effects like incontinence and impotence. Sometimes the tumors are destined to grow so slowly that these men will … Continue reading “Genomic Health Test Aims To Cut Overtreatment of Prostate Cancer”
VentureOutNY, NYCEDC, and iCatapult Bring European Startups to NY
The campaign to attract more startups to New York is reaching across international borders. Last night a coalition of private and city organizations introduced a group of 15 startups from Europe to the New York tech and investor community. The mission was to build local business connections for these companies and the event organizers say … Continue reading “VentureOutNY, NYCEDC, and iCatapult Bring European Startups to NY”
Roundup: Dell Cloud Buy, Obama in Austin, Houston Hackathon, TechRanch Partner
Notable Texas technology news in recent days includes Dell’s acquisition of Enstratius, a tech-centric visit to Austin by President Obama, a Houston government initiative to spur “civic hackers,” and an international partnership for Austin’s TechRanch. Details follow: —Dell aims to bolster its cloud management software offering with the acquisition of Minnesota-based Enstratius. Terms of the … Continue reading “Roundup: Dell Cloud Buy, Obama in Austin, Houston Hackathon, TechRanch Partner”
Denver Cleans Up in Ranking of “World’s Best Oil and Gas Cities”
Call this bit of news a “blast from the past” that will make people in Colorado’s oil and gas industry smile—and could leave environmentalists and members of the clean energy industry shaking their heads. Rigzone, an online industry news and analysis publication based in Houston, has named Denver the best oil and gas city in … Continue reading “Denver Cleans Up in Ranking of “World’s Best Oil and Gas Cities””
Fun and Games in ICANN’s new gTLD Process
Most readers are probably aware that the Internet Corporation for Assigned Names and Numbers (ICANN) has recently introduced a process to open up the domain system to a myriad of new generic Top Level Domains (gTLDs). In this context “generic” may be somewhat of a misnomer, because a number of the domains applied for correspond … Continue reading “Fun and Games in ICANN’s new gTLD Process”
Pebble, RunKeeper Team Up as Wearable Computing Gains Steam
Way back in 2012, when the folks behind the Pebble smartwatch were still trying to get their dream gadget built, a hunt began for applications that would show off the miniature wearable computer’s best features. It would be waterproof, with an e-paper screen that wearers could read in outdoor light. Its Bluetooth connection would bring … Continue reading “Pebble, RunKeeper Team Up as Wearable Computing Gains Steam”
Ambiq Micro Continues Growth From Austin Base
When we last caught up with University of Michigan spin-off company Ambiq Micro, it was moving its microcontroller development operation to Austin, TX. Co-founder Scott Hanson told AnnArbor.com at the time that the reason behind the move was Texas’ wealth of talent. Of course, it doesn’t hurt that one of Ambiq Micro’s lead investors, DFJ … Continue reading “Ambiq Micro Continues Growth From Austin Base”
Moju Labs Building Smart Digital Photo Albums Using Big Data
What do you get when you add Silicon Valley mojo to Korean soju (rice liquor)? You get Moju Labs, the latest startup from Boston-bred entrepreneur Mok Oh. The former chief scientist of PayPal and current entrepreneur-in-residence at North Bridge Venture Partners has been working on a “consumer big data” startup on the West Coast for … Continue reading “Moju Labs Building Smart Digital Photo Albums Using Big Data”
To ‘Lean In’ or Not to ‘Lean In:’ Is That the Real Question?
Steve Jobs famously said that you cannot “connect the dots looking forward; you can only connect them looking backwards. So you have to trust that the dots will somehow connect in your future.” For me, one of those moments of clarity in connecting the dots—looking back and seeing a logic and pattern in my life … Continue reading “To ‘Lean In’ or Not to ‘Lean In:’ Is That the Real Question?”
The VC Will See You Now at the “World’s Largest Office Hours”
The three laws of getting a meeting with a VC: 1) If you don’t know somebody who can provide a referral, don’t even try. 2) Start about four months in advance. 3) Once the meeting is on the books, assume that it will be rescheduled at least twice, and probably again on the day of … Continue reading “The VC Will See You Now at the “World’s Largest Office Hours””
BMC Software Agrees to $6.9B Sale to Group Led by Bain, Golden Gate
BMC Software, an IT services and cloud computing provider, announced Monday it has signed a definitive agreement with four private equity investors who will pay $6.9 billion in cash to take the Houston-based company private. Bain Capital and Golden Gate Capital lead the investor group, which includes GIC Special Investments and Insight Venture Partners. The … Continue reading “BMC Software Agrees to $6.9B Sale to Group Led by Bain, Golden Gate”
Vidyo Brings Videoconferencing to Doctors in Remote Parts of Alaska
[Updated with comments from CEO Ofer Shapiro. See below] Imagine being a doctor with patients scattered across the rural reaches of Alaska. Booking face-to-face visits might not be that easy—unless you also happen to be a bush pilot—but having access to videoconferencing technology can be away to conduct visual exams regardless of the distance. Vidyo, … Continue reading “Vidyo Brings Videoconferencing to Doctors in Remote Parts of Alaska”
Vectorform: Quietly Developing Software for Some of the World’s Largest Brands
The news hit the blogosphere two weeks ago that Michigan Gov. Rick Syder’s administration was supposedly holding secret meetings with tech companies in an effort to develop “value schools” that relied on IT and a voucher-like funding mechanism to reduce costs. The Detroit News broke the story about the group, which called itself “skunk works” and allegedly … Continue reading “Vectorform: Quietly Developing Software for Some of the World’s Largest Brands”
San Diego’s Receptos, Ambit Biosciences, Get Ready for IPO Debuts
[Corrected 5/6/13, 10:50 am. See below.] San Diego-based Receptos, a biotech developing new treatments for immune disorders, is among 13 IPOs expected to go public this week, according to Renaissance Capital, a financial firm in Greenwich, CT, that specializes in IPOs. Another San Diego biotech, Ambit Biosciences, also set a price range for its shares … Continue reading “San Diego’s Receptos, Ambit Biosciences, Get Ready for IPO Debuts”
Concert Pharma To Get $300M+ Per Drug in Celgene Pact
The past 15 months have turned into a partnership symphony for Concert Pharmaceuticals. On Monday, the Lexington, MA-based company snagged its latest collaborative partner, revealing that it will team with Celgene (NASDAQ: [[ticker:CELG]]) to use its technology— which adds deuterium elements into existing drugs to boost their abilities—to develop cancer and inflammation drugs. Concert has … Continue reading “Concert Pharma To Get $300M+ Per Drug in Celgene Pact”
Targeted Tableau Software IPO Price Would Value Company at up to $1.5B
Tableau Software, the Seattle data visualization company, is aiming to offer 7.2 million shares of stock for sale to the public at between $23 and $26 a share, valuing the company at nearly $1.5 billion on the high end. Tableau would raise about $111.4 million at a midpoint offering price of $24.50, net of discounts, … Continue reading “Targeted Tableau Software IPO Price Would Value Company at up to $1.5B”
Terrafugia Unveils New TF-X Project, Talks Future of Flying Cars
Yes, this company makes a flying car. And apparently, it works—at least the prototype does. Now how about this, a little further down the road: a self-flying car. Perhaps we’re getting ahead of ourselves here. But what if the technology were feasible? Here’s the thing: it could be. In fact, some observers predict we’ll have … Continue reading “Terrafugia Unveils New TF-X Project, Talks Future of Flying Cars”
Fantasy Sports, Real Money: Atlas Re-Ups with $7M in DraftKings
We’re in the middle of a frenzied period in major American sports: the NBA playoffs, the NHL playoffs, and regular-season Major League Baseball all competing for attention, along with the draft and offseason reshuffling in the NFL. All in all, not a bad time to reload with more investment cash if you’re a fantasy-sports startup. … Continue reading “Fantasy Sports, Real Money: Atlas Re-Ups with $7M in DraftKings”
Online Galleries Help Shoppers Get Smart About Art
When San Francisco-based UGallery came on the scene in 2006, co-founders Stephen Tanenbaum and Alex Farkas purposely targeted a demographic new to serious art: people who were ready to graduate from posters taped on their walls to unique pieces to decorate their homes and offices, but weren’t necessarily going to auction houses and storing their … Continue reading “Online Galleries Help Shoppers Get Smart About Art”
Johnson Space Center Campus Looks to Support NASA Entrepreneurs
The shuttering of NASA’s space shuttle program two years ago was felt most acutely in the Houston suburbs, home to the Johnson Space Center. In the aftermath, corporate boosters scrambled to keep talent in the area in order to preserve some of the economic engine that the space program brought to the city. The result … Continue reading “Johnson Space Center Campus Looks to Support NASA Entrepreneurs”
Former Keryx Exec’s Mission: Turn TG Into the Next Pharmacyclics
Seven years running a publicly-traded biotech are likely to give anyone a sense of the manic nature and the volatile ups and downs of drug development. And Mike Weiss, who headed Keryx Pharmaceuticals (NASDAQ: [[ticker:KERX]]) from 2002 to 2009, has both the scars and the trophies to prove it. But those lessons have left Weiss … Continue reading “Former Keryx Exec’s Mission: Turn TG Into the Next Pharmacyclics”
Lessons For Drug Development From The Aveo Buzzsaw
Drug development is a tough business. Small companies that dare to try often end up in public train wrecks when they head to Washington to meet the FDA. It’s a shame, a colossal waste, every time a company gets that far and stumbles. And it doesn’t have to be that way. The folks at Cambridge, … Continue reading “Lessons For Drug Development From The Aveo Buzzsaw”
$95M Satellite Project at CU to Help Earthlings Cope with Space Weather
How’s the weather up there? No, seriously. Like way up in space and the upper atmosphere, where space weather can affect communications and GPS satellites—and knock a space station out of the sky. Or closer to home, where radiation makes it through the atmosphere and can interrupt electrical transmission grids and force airlines to reroute … Continue reading “$95M Satellite Project at CU to Help Earthlings Cope with Space Weather”
Solar Needs Market Changes To Bring Benefits To ‘Untapped’ Texas
Solar power advocates hope this will be the summer that drought-stricken Texas sees the potential of this abundant natural energy source, and changes electricity market structures to take advantage of it. “Texas is one of the largest untapped solar markets in the U.S.,” says Maura Yates of SunEdison, an integrated supplier of solar equipment and … Continue reading “Solar Needs Market Changes To Bring Benefits To ‘Untapped’ Texas”
Do You Need an Extended Warranty? Do the Math, Says SquareTrade
Consumer Reports, the nation’s most respected source of product reviews and buying advice, does not mince words about extended warranties. It calls them a bad idea and money down the drain. The website Consumerist agrees, calling extended warranties useless and usually a bad deal. So why on earth would you consider shelling out an extra … Continue reading “Do You Need an Extended Warranty? Do the Math, Says SquareTrade”
San Diego Life Sciences Roundup: Topera, Afraxis, Trovagene, & More
It was a week of deals, deals, and more deals for San Diego’s life sciences sector. Here’s my rundown. —San Diego’s Abide Therapeutics entered into a drug development collaboration with Merck, the New Jersey pharmaceutical giant, that could eventually be worth as much as $430 million for Abide. Founded just two years ago, Abide has … Continue reading “San Diego Life Sciences Roundup: Topera, Afraxis, Trovagene, & More”
East Coast Life Sciences Roundup: Aveo, Forma, Regeneron, RainDance, & More
The big news here at Xconomy this week was the launch of our new Texas bureau. But out on the East Coast, the life sciences industry was buzzing from top to bottom as well. Nine-figure partnerships, FDA advisory panel debacles, venture financings, and more all dominated headlines from New York to Boston. —Cambridge, MA-based Aveo … Continue reading “East Coast Life Sciences Roundup: Aveo, Forma, Regeneron, RainDance, & More”
Houston-Based Healthcare Investor Capital Royalty Closes $805M Fund
Capital Royalty, a private equity investment firm that specializes in investing in healthcare technologies, has closed an $805 million investment fund, the firm announced today. Capital Royalty is headquartered in Houston and has offices in Boulder, CO, and New York City. The fund, Capital Royalty Partners II L.P, is the firm’s second, according to a … Continue reading “Houston-Based Healthcare Investor Capital Royalty Closes $805M Fund”
Jake Jabs’ $10M Gift to ‘Transform’ CU-Denver Business School
Here’s a story that might make Colorado entrepreneurs chuckle, until they realize what it could mean for them. Zany furniture pitchman Jake Jabs—yes, that Jake Jabs—has donated a record $10 million to the University of Colorado-Denver’s business school, CU Denver announced Wednesday. Jabs is the founder and CEO of American Furniture Warehouse, a chain of … Continue reading “Jake Jabs’ $10M Gift to ‘Transform’ CU-Denver Business School”
Synthetic Biologics, Fuelled by Billionaire, Takes Aim at C.Diff
[Corrected 5/3/13, 2:30 p.m. See below.] Founded in 2001, Synthetic Biologics is a biotech company headquartered in Rockville, MD, with an office in Ann Arbor, MI, focused on the treatment of serious infectious diseases. CEO Jeff Riley says the company has been transformed during the past year or so—when billionaire biotech investor RJ Kirk came … Continue reading “Synthetic Biologics, Fuelled by Billionaire, Takes Aim at C.Diff”
Under Siege, San Diego’s Active Network Shuffles Leadership
Wow. The Active Network (NYSE: [[ticker:ACTV]]), the San Diego-based Web company that provides online registration and support for a host of recreational activities, is in the throes of a full-fledged corporate crisis. In a statement yesterday, the company named former COO Jon Belmonte as interim CEO. Belmonte, who left the company at the end of … Continue reading “Under Siege, San Diego’s Active Network Shuffles Leadership”
DabKick Spices Up Mobile Chat with Video, Photos, and Now Music
Do mobile-device owners really want to share photos, videos, and other media with their friends in real time? Would you have more fun browsing your photo album or watching the latest viral video on YouTube if you knew your friends were looking at the same stuff on their phones at the same time? Every so … Continue reading “DabKick Spices Up Mobile Chat with Video, Photos, and Now Music”
LG Parties with Optimus G Pro, Pulls a Note or II from Samsung
Trumpeting the upcoming debut of the Optimus G Pro phablet, last night LG Electronics brought the press, analysts, and other guests to the Metropolitan Pavilion in New York to check out the device. With dusky lighting and indie rock band Atlas Genius taking the stage part way through the night, the company tried put some … Continue reading “LG Parties with Optimus G Pro, Pulls a Note or II from Samsung”
Aveo Shares Plummet as FDA Advisory Panel Votes Down Cancer Drug
A doomsday scenario played out for Aveo Oncology (NASDAQ: [[ticker:AVEO]]) today. The Cambridge, MA-based company saw 13 of 14 members of an FDA advisory panel vote against its kidney cancer drug, tivozanib, saying it shouldn’t be cleared for sale in the U.S. because of questions about clinical trial design and the drug’s overall benefits to … Continue reading “Aveo Shares Plummet as FDA Advisory Panel Votes Down Cancer Drug”
Boston Roundup: NEVYs, VMTurbo, Stackdriver, Cue Ball
Some awards, financing, and product launches to cover in this collection of Boston-area news items: —The New England Venture Capital Association hosted its first-ever “Nevy” awards last night, at the hip Sinclair in Cambridge. The full list of winners is available here, but some of the standouts include Spark Capital as tech-sector VC firm of the … Continue reading “Boston Roundup: NEVYs, VMTurbo, Stackdriver, Cue Ball”
Opexa Tries a Personalized Cell Therapy Against Last, Worst Stage of MS
Pharmaceutical companies have been fielding a slate of new drugs for multiple sclerosis in the past few years—most recently the new oral pill diethyl fumarate (Tecfidera) that analysts see as a potential multibillion-dollar revenue source for Weston, MA-based Biogen Idec (NASDAQ: [[ticker:BIIB]]). For the most part, however, the new MS drugs treat the progressive disease … Continue reading “Opexa Tries a Personalized Cell Therapy Against Last, Worst Stage of MS”
Abide Therapeutics and Merck Unveil Diabetes Drug Collaboration
Abide Therapeutics, a two-year-old San Diego biopharmaceutical firm pioneering new ways to identify and validate drug targets among the serine hydrolase “superfamily” of enzymes, says today it has agreed to work with Merck (NYSE: [[ticker:MRK]]) on a drug development program for metabolic diseases. The collaboration agreement, which could be worth as much as $430 million … Continue reading “Abide Therapeutics and Merck Unveil Diabetes Drug Collaboration”
NW Biotech Education Group Faces Loss of Federal Money, Deep Cuts
The Northwest Association for Biomedical Research (NWABR), a nonprofit that fosters science education and public understanding of research in Washington, Oregon, and Idaho, is contemplating the deepest cuts in the organization’s history, as it expects to lose about half of its annual budget because of federal spending cuts. The Seattle-based organization, which reported a $1.2 … Continue reading “NW Biotech Education Group Faces Loss of Federal Money, Deep Cuts”
Automotive Cleantech Fallbrook Technologies Relocates Near Austin
Fallbrook Technologies was founded in San Diego, and it spent 15 years working to commercialize its design for a new type of continuously variable transmission, with the potential to increase fuel efficiency, reduce emissions, and improve vehicle performance. The company bills its innovative “NuVinci” transmission as a greener and more fuel-efficient technology for cars, trucks, … Continue reading “Automotive Cleantech Fallbrook Technologies Relocates Near Austin”
Roundup: Tango Card, VoloMetrix, Glider, Chirpify Score Funds, & More
Call this the “torrid springtime heatwave” edition of the Seattle tech news roundup, because that’s what’s in the forecast from now through the weekend. Meanwhile, a handful of tech companies in the region have made it rain. Details: —Tango Card, which allows people to redeem gift cards for other gift cards, charitable donations, or cash, … Continue reading “Roundup: Tango Card, VoloMetrix, Glider, Chirpify Score Funds, & More”
Restaurants’ Hunger for Mobile Ordering Fueling Splick-it’s Growth
You’re hungry, and you’re in a hurry. Don’t you wish you could skip the long line ahead of you? Wouldn’t it be great if the restaurant knew what you wanted and had it waiting for you? Splick-it, a company that develops mobile and online ordering and payment systems for restaurant chains, thinks that it can … Continue reading “Restaurants’ Hunger for Mobile Ordering Fueling Splick-it’s Growth”
The Muse’s CEO: Tech Needs More Visible Female Role Models
Diversifying what is considered the face of technology could encourage more women to become founders, says Kathryn Minshew, CEO and co-founder of New York career advice site The Muse and sister news site The Daily Muse. She chatted with me after speaking at last night’s Made in New York event, which promotes tech companies based … Continue reading “The Muse’s CEO: Tech Needs More Visible Female Role Models”
Seed Funding Enables GridCOM to Advance Cyber Security Technology
For the past couple of years, a variety of high-level federal officials have sounded increasingly urgent alarms about the vulnerabilities of the U.S. power grid to cyber attack. In October, for example, former U.S. Defense Secretary Leon Panetta warned that increasingly aggressive hacker groups had developed the technical expertise and software tools needed to shut … Continue reading “Seed Funding Enables GridCOM to Advance Cyber Security Technology”
Atlas Venture Raises $265M Fund, Touts Turnaround from Bloated Years
[Updated 1:15 pm, see below] Atlas Venture, a Cambridge, MA-based venture capital firm that focuses on early stage tech and biotech companies, has raised a new $265 million fund after several years of reinventing itself into a leaner, more nimble operation. The news comes on the heels of Boston-area VC firms closing new funds—$650 million … Continue reading “Atlas Venture Raises $265M Fund, Touts Turnaround from Bloated Years”
Savara Enters the Proving Ground With Inhalable Antibiotic for CF
Patients with cystic fibrosis can expect to live until their late 30s or early 40s. It’s a big improvement over the life expectancy they had a decade or two ago. But now a biotech startup in Austin, TX, has put itself into position to find out, in the next year, if it has another way … Continue reading “Savara Enters the Proving Ground With Inhalable Antibiotic for CF”
Surge Energy Software Accelerator Gearing Up for Second Demo Day
Houston’s energy sector is an economic powerhouse, but not one usually associated with startup culture. “Energy is extremely global but it’s also extremely myopic,” says Kirk Coburn, founder and managing director of Surge Accelerator in Houston. “It doesn’t look outside the industry for solutions.” Industry giants have venture arms, but Houston lacked a fully formed … Continue reading “Surge Energy Software Accelerator Gearing Up for Second Demo Day”
Tech Meets the T-Shirt at Pistol Lake and Pickwick & Weller
It’s hard to think of a fashion item that’s been more commoditized than the T-shirt. Over the last century it’s evolved from a versatile work garment for miners, sailors, and farmers into a nearly universal piece of topwear for students, athletes, and startup employees. It’s also become a form of wearable advertising—a way to display … Continue reading “Tech Meets the T-Shirt at Pistol Lake and Pickwick & Weller”