Investors have been in a rush to finance early stage companies in the past few years, leading to angst among startup founders confronting a tougher time making it to the next stage of investment. But for companies that get successfully acquired, it turns out that outside financing isn’t a necessity. In fact, it’s a rarity. … Continue reading “Tech M&A: Report Finds Most Startups Didn’t Raise Outside Cash”
Category: National
FDA OKs First-in-Class Drug From Isis for Rare Cholesterol Disorder
The FDA today approved the cholesterol-lowering drug mipomersen (Kynamro)—the first major RNA therapeutic developed by Carlsbad, CA-based Isis Pharmaceuticals (NASDAQ: [[ticker:ISIS]]). Isis has been developing its lead drug candidate under a 2008 partnership with Cambridge, MA-based Genzyme, now part of the French drug giant Sanofi (NYSE: [[ticker:SNY]]). In a statement released late today, the FDA … Continue reading “FDA OKs First-in-Class Drug From Isis for Rare Cholesterol Disorder”
CEOs, Legislators Fight Retroactive Tax on Small-Business Investors
In December, reacting to a court ruling, the California Franchise Tax Board eliminated a tax break designed to encourage small-business investment in the state, and it said it would demand retroactive tax payments from everyone who took advantage of the incentive since 2008. Now angry voices are rising in opposition to that decision, which will … Continue reading “CEOs, Legislators Fight Retroactive Tax on Small-Business Investors”
ePrize Continues Its Mobile Growth With Mozes Acquisition
The Pleasant Ridge, MI-based interactive promotions company ePrize has announced its second major acquisition in 12 months, a move that represents the next big step in its plan to ramp up the mobile portion of its business. ePrize didn’t disclose the terms under which it acquired Palo Alto, CA-based Mozes, but did say it will … Continue reading “ePrize Continues Its Mobile Growth With Mozes Acquisition”
Boston Scientific Announces Job Cuts, Stock Buyback, Lower Earnings
Boston Scientific (NYSE: [[ticker:BSX]]) announced today that it plans to cut as many as 1,000 jobs this year, on top of the 1,250 to 1,400 job cuts it announced in 2011, as the troubled medical device maker continues to try and turn its fortunes around. The Natick, MA-based company also said it will buy back … Continue reading “Boston Scientific Announces Job Cuts, Stock Buyback, Lower Earnings”
Marketing Tech Developer Unified Acquires Y Combinator-Alum PageLever
Enterprise marketing technology provider Unified in New York said in a statement Monday it acquired San Francisco-based PageLever, a developer of an analytics platform for Facebook Pages, for undisclosed terms. PageLever is a graduate of the summer 2011 Y Combinator startup incubator program. Unified, which also has offices in San Francisco and Chicago, was founded … Continue reading “Marketing Tech Developer Unified Acquires Y Combinator-Alum PageLever”
Testing the Bay Lights: Stunning Photos and Video
Few artists have ever had a bigger canvas at their disposal than Leo Villareal. The New York-based “light sculptor” is famous for designing huge, computer-driven LED art installations that cover entire walls of museums and other facilities around the country. But the Bay Lights, an array of individually programmed LEDs stretching across the entire Western … Continue reading “Testing the Bay Lights: Stunning Photos and Video”
Defense Secretary Gates: Underfund Basic Research at America’s Peril
Former Defense Secretary Robert Gates distills a critical challenge to America’s continued prosperity and global leadership: Deliver to his generation all promised entitlements, or invest in research and education—the foundations of the country’s success. “I think it’s fair to say America’s economic pre-eminence—and I would argue our national security, and national influence as well—is largely … Continue reading “Defense Secretary Gates: Underfund Basic Research at America’s Peril”
Michael Yang Opens Up about the Startups that Excite Comcast Ventures
Media conglomerate Comcast Corp. is known for its cable system and TV networks. Meanwhile, venture fund Comcast Ventures has been backing innovation across country since 1999, with offices in San Francisco, Palo Alto, New York, and Philadelphia. Michael Yang, managing director of the Silicon Valley office, spoke with Xconomy about the types of investments Comcast … Continue reading “Michael Yang Opens Up about the Startups that Excite Comcast Ventures”
Afraxis Licenses its Drug Compounds to Roche Subsidiary Genentech
Afraxis, a San Diego biopharmaceutical founded in 2007, says today it has licensed exclusive global rights for all of its proprietary drug compounds to Genentech, the Roche subsidiary based in South San Francisco, CA. While details of the deal were not disclosed, it still counts as an exit. Afraxis says it’s eligible to get as … Continue reading “Afraxis Licenses its Drug Compounds to Roche Subsidiary Genentech”
DataGravity Pulls In $30M More to Go Big in Business Analytics
Gravity is at the core of the universe’s greatest mysteries. How Einstein’s general theory of relativity jibes with the Big Bang. How quantum theory might explain all forces at the smallest scales. And now: how a young company just might find the Holy Grail of “big data” analytics, by helping businesses extract insights from piles … Continue reading “DataGravity Pulls In $30M More to Go Big in Business Analytics”
Khosla Ventures Leads $4.5 Million in Funding for DB Networks
DB Networks, a San Diego database security equipment startup, says today it has raised $4.5 million in a Series B round of venture funding led by Khosla Ventures of Menlo Park, CA. The funding will be used to build sales and marketing for its database security equipment. DB Networks was founded in 2009, and Brett … Continue reading “Khosla Ventures Leads $4.5 Million in Funding for DB Networks”
Twitter Buys Crashlytics, Getting Crash-Report Chops
Here’s an intriguing bit of tech acquisition news: Twitter is buying Crashlytics, the Cambridge, MA-based startup that helps software developers track down the bugs and errors that make their apps crash. It’s no surprise that Twitter, one of the big dogs of the social media era, is out shopping for smaller companies. And it’s not … Continue reading “Twitter Buys Crashlytics, Getting Crash-Report Chops”
KarmaCRM: Building Sales Software for Lean Startups
It’s not often that, here in Detroit, I get an e-mail from a tech player in Boston urging me to check out a new company in my neck of the woods, but that’s exactly what happened in the case of Ann Arbor-based KarmaCRM. My source met KarmaCRM’s founder, John Paul Narowski, on a flight back … Continue reading “KarmaCRM: Building Sales Software for Lean Startups”
Keryx Finally Succeeds With a Clinical Trial, for Kidney Disease Drug
It looks like a Hail Mary pass came through for Keryx Biopharmaceuticals (NASDAQ: [[ticker:KERX]]). In the past few years, both of New York-based Keryx’s top drug candidates failed key clinical trials, leaving the company to bet all its fortunes on its one remaining drug, meant for kidney dialysis patients. Today Keryx reported that the drug, … Continue reading “Keryx Finally Succeeds With a Clinical Trial, for Kidney Disease Drug”
Designing Qualcomm’s Corporate Entrepreneurship Program
I ran into Ricardo Dos Santos and his amazing Qualcomm Venture Fest a few years ago and was astonished with its breath and depth. From that day on, when I got asked about which corporate innovation program had the best process for idea selection, I started my list with Qualcomm. This is Ricardo’s “post mortem” … Continue reading “Designing Qualcomm’s Corporate Entrepreneurship Program”
San Diego Life Sciences Roundup: VC Outlook, Organovo, Life, & More
A spate of stories late last week, including three venture capital partners who gave their outlook for 2013 to the San Diego Venture Group, pushed back my roundup of life sciences news a little. Here’s the wrap up of news over the last week. —Josh Green of Menlo Park, CA-based Mohr Davidow Ventures sees new … Continue reading “San Diego Life Sciences Roundup: VC Outlook, Organovo, Life, & More”
Harvard i-lab Sprouts Startups: Nucleik, PollVaultr, Vaxess, & More
The Harvard Innovation Lab has been open for business just over a year. Led by managing director Gordon Jones and his team of startup hustlers, the Allston, MA-based community space for student entrepreneurs is just hitting its stride, with a number of current and former residents making noise in the local and national startup scene. … Continue reading “Harvard i-lab Sprouts Startups: Nucleik, PollVaultr, Vaxess, & More”
Ten Companies in Three Days: The MIT Sloan Tech Trek
[Editor’s note: The Technology Club at MIT’s Sloan School of Management organizes an annual student trip to Silicon Valley to tour top technology companies. Xconomy traditionally invites one Sloan student each year to blog about the experience.] I’ve always been interested in technology, but after working on reconstruction projects in Afghanistan, I decided to make … Continue reading “Ten Companies in Three Days: The MIT Sloan Tech Trek”
Crowdfunding Is Coming to Biotech, so Get Ready for a Wild Ride
Most biotech pros will shrug, or chuckle, if you ask whether crowdfunding will transform life sciences financing in the U.S. This, after all, is an industry where you often need to raise at least $50 million or $100 million to even have a chance at developing a new drug or medical device. Scraping together a … Continue reading “Crowdfunding Is Coming to Biotech, so Get Ready for a Wild Ride”
UnitedHealth Unit Buys Boston Health IT Firm Humedica
Humedica, a health IT startup based in Boston, has been acquired by UnitedHealth Group’s (NYSE: [[ticker:UNH]]) health IT unit, Optum, for an undisclosed sum. The news was first reported today by the Boston Business Journal, which cites an anonymous source as saying the deal is worth “hundreds of millions” of dollars. Xconomy has confirmed the … Continue reading “UnitedHealth Unit Buys Boston Health IT Firm Humedica”
Introverts and the Internet
If you live in San Francisco, it’s hard to justify traveling anywhere else, since you already have a bed in the postcard-perfect place that 16 million other people go out of their way visit every year. Still, sometimes you just need to get the hell out of Dodge. That’s why I drove up to Napa … Continue reading “Introverts and the Internet”
Rodale Taps Bobby Chowdhury’s Technical Drive for New CTO Job
Health and fitness magazine publisher Rodale Inc. has hired Bobby Chowdhury as its first dedicated chief technology officer looking to draw upon his technical skills and experience for its forthcoming e-commerce platform. Chowdhury, previously with Condé Nast, will split his time between New York and the Rodale headquarters in Emmaus, PA. Rodale publishes such titles as … Continue reading “Rodale Taps Bobby Chowdhury’s Technical Drive for New CTO Job”
Crowdfunding Helps Bring Xconomy to Colorado; Now Writers Needed
If you’ve spent much time in the Colorado back country, you probably remember feeling a profound sense of elation that comes after hours of relentless upward hiking, when you finally reach the summit and a panorama of the Rocky Mountains opens around you. We’re feeling a little like that now, after learning a crowdfunding initiative … Continue reading “Crowdfunding Helps Bring Xconomy to Colorado; Now Writers Needed”
True Office Wins $3M Series A Round with Games for Compliance Training
New York’s True Office, which makes cloud-based games for compliance and regulatory training, said in a statement Thursday it landed $3 million in a Series A round that includes participation from Contour Venture Partners, Rho Ventures, and the Partnership for New York City Fund. True Office develops games—available through mobile devices and Web browsers—that other … Continue reading “True Office Wins $3M Series A Round with Games for Compliance Training”
East Coast Life Sciences Roundup: Ariad, Pfizer, Cubist, More
It was good news all around this week in life sciences on the East Coast, with a strong earnings report for one company, a positive decision on a drug for two others, and a White Knight emerging for a third. And at Cambridge’s Broad Institute, information technology and biology came together in a way. —ARIAD … Continue reading “East Coast Life Sciences Roundup: Ariad, Pfizer, Cubist, More”
Leprosy 2013 – The Problem and the Solutions
Leprosy – still a problem? The answer is yes. Every year, an estimated quarter million people worldwide – mostly in Africa, Asia and Latin America – are diagnosed with leprosy, a cruel disease that leaves its victims maimed, crippled, disfigured and blind, often with terrible quality of life. Sunday, Jan. 27, is set aside as … Continue reading “Leprosy 2013 – The Problem and the Solutions”
Notes From the Auto Show: Smarter, Sexier, More Fun
I feel a little silly admitting this, but the word that kept echoing in my head as I walked around this year’s installment of the North American International Auto Show (NAIAS) was “sexy.” NAIAS was all vehicles with swooping curves, swanky booths serving espresso with a fancy assortment of sweeteners, and lanky models draped over … Continue reading “Notes From the Auto Show: Smarter, Sexier, More Fun”
Three VCs See New Opportunities as Changes Roil Venture Industry
There are a lot of dismal stats in a wrap-up of 2012 venture capital activity from the National Venture Capital Association that is making the rounds. As we’ve reported, total VC investments declined nationwide last year by 10 percent from 2011. The number of active U.S. firms is less than half the 1,035 counted in … Continue reading “Three VCs See New Opportunities as Changes Roil Venture Industry”
Confirmed: Ignition Partners Scaling Down With New $150M Fund
[Updated 5:30 pm Pacific] One of the Northwest’s leading venture firms is scaling back, looking at raising a smaller fifth fund with fewer active partners. A source familiar with the situation confirms the news that Bellevue, WA-based Ignition Partners is in the process of raising a new fund in the $150 million range, significantly smaller … Continue reading “Confirmed: Ignition Partners Scaling Down With New $150M Fund”
Seattle Smorgasbord: UW Molecule, Telanetix Sold, Symform CEO, and More
Can you taste the potential in a promising new ferroelectric molecule, new ownership for cloud-based voice provider Telanetix, new leadership at backup service Symform, more cash for app host Blue Box, and a software program that promises to vanquish jargon? Read on to sample the latest Seattle-area tech news. —A novel organic molecule discovered by … Continue reading “Seattle Smorgasbord: UW Molecule, Telanetix Sold, Symform CEO, and More”
The Surreal, Ironic Story Behind California’s Retroactive Tax on Investors
A major tax incentive designed to encourage investors to back startups and other small businesses in California has just evaporated. If you sold stock in a so-called “qualifying small business” (QSB) in 2012, you won’t be able to exclude or defer any of your gains when you fill out your state income tax return this … Continue reading “The Surreal, Ironic Story Behind California’s Retroactive Tax on Investors”
SD Software Group Looks for New Direction with Leader’s Departure
Bob Slapin says he was on the board of the San Diego Software Industry Council in 2000, after the dot-com bubble broke, and Internet companies were suddenly in dire straits. “We had just an administrator at that time, and the board said we need a business person to turn things around, and I said I’ll … Continue reading “SD Software Group Looks for New Direction with Leader’s Departure”
Alder Biopharma Looks to Take On Migraines, and the World
[Corrected, 8:58 am PT. See below.] Nobody has ever come up with a drug that can stop migraine headaches before they start. This will be the year that Bothell, WA-based Alder Biopharmaceuticals finds out if it can achieve that lofty goal, and change the way patients and physicians think about treating migraines. Alder passed its … Continue reading “Alder Biopharma Looks to Take On Migraines, and the World”
iRobot Sees Big Future in Remote Communications
The company that made robotic vacuum cleaners a household phenomenon is ready to start tackling a decidedly different market: the doctor’s office. iRobot (NASDAQ: [[ticker:IRBT]]), the maker of Roomba vacuums and other robotic products, is preparing for its new RP-VITA “telepresence” robot to start being used in healthcare settings following recent regulatory approval from the … Continue reading “iRobot Sees Big Future in Remote Communications”
LenovoEMC Opens in Boston Area, Finds Niche in Networked Storage
There’s a new data-storage startup in town. This one has some pretty big parents and distributors—and it’s hitting the ground running. Specifically, its parents are EMC (NYSE: [[ticker:EMC]]), the largest tech company in the Boston area, and Lenovo (HKSE: [[ticker:LNVGY]]), the Chinese computer and server giant (now reputed to be the world’s biggest PC maker). … Continue reading “LenovoEMC Opens in Boston Area, Finds Niche in Networked Storage”
Progenics Pharmaceuticals Buys Molecular Insight in Stock Swap
Progenics Pharmaceuticals (NASDAQ: [[ticker:PGNX]]) of Tarrytown, NY, said on Tuesday that it has acquired financially troubled Molecular Insight Pharmaceuticals for 4,566,210 shares of its stock. Molecular Insight, based in Cambridge, MA, was founded in 1997 and filed for Chapter 11 in December 2010. In a Wednesday morning webcast, Progenics CEO Mark Baker said Molecular was acquired … Continue reading “Progenics Pharmaceuticals Buys Molecular Insight in Stock Swap”
Boston Deals: Celtra, MediaSilo, L-3, Pushpins
Some acquisition, fundraising, and federal contract news bits that have been surfacing in the past week or so around the Boston area: —Cambridge, MA-based advertising tech startup Celtra has added $4 million in investment cash, led by SoftBank Capital. Celtra says it plans to use the money to expand in Asia, particularly Japan, and to … Continue reading “Boston Deals: Celtra, MediaSilo, L-3, Pushpins”
Celgene Drug Keeps Pancreatic Patients Alive an Extra Two Months in Trial
Paclitaxel protein-bound (Abraxane) looks to be the cancer drug that keeps on giving to Celgene (NYSE: [[ticker:CELG]]). The Summit, NJ-based company reported late in the day on Tuesday that a pivotal clinical trial of the drug combined with chemotherapy kept patients with advanced pancreatic cancer alive some two months longer than those on chemotherapy alone. … Continue reading “Celgene Drug Keeps Pancreatic Patients Alive an Extra Two Months in Trial”
VenBio’s Goodman Builds an Inside Periscope on Biotech Acquisitions
Veteran neuroscientist Corey Goodman says young life science entrepreneurs who want to launch startups often ask him for advice. Those aspiring biotechnology leaders might be surprised by what they hear from Goodman—a former Stanford and UC Berkeley professor who went on to become co-founder and CEO of two public biotechnology companies, Exelixis (NASDAQ: [[ticker:EXEL]]) and … Continue reading “VenBio’s Goodman Builds an Inside Periscope on Biotech Acquisitions”
Mobile Madness Motor City: The Photos
Xconomy held its first Mobile Madness event in Detroit on Thursday afternoon. We had a top-notch group of speakers, fantastic sponsors and hosts, and, most importantly, an off-the-charts group of attendees. The program featured panel discussions about connected cars, enterprise mobile, and mobile apps strategy. Josh Linkner of Detroit Venture Partners told us why Detroit … Continue reading “Mobile Madness Motor City: The Photos”
Intel Capital Jumps on Apperian Express, Now With $28M in Tow
Apperian continues to evolve in a complex, changing mobile world. Today the Boston-based app platform and management startup says it has raised new money from Intel Capital. The strategic investment—about $4 million, by my count—should help Apperian ramp up sales and marketing to more enterprises that are dealing with the IT onslaught of BYOD (bring … Continue reading “Intel Capital Jumps on Apperian Express, Now With $28M in Tow”
SEOmoz Buys AudienceWise, Plans Hipster-Friendly Portland Office
Cue the “Dream of the ’90s.” SEOmoz is acquiring AudienceWise, its third Portland-based buy, and will open an office in the Rose City. The Seattle search engine and social marketing company is parting with cash and stock in the “low seven-figure” range for AudienceWise, which helps develop audiences for news and e-commerce sites. The company’s … Continue reading “SEOmoz Buys AudienceWise, Plans Hipster-Friendly Portland Office”
The Million Dollar Club
I had two conversations last week, each of which reinforces a simple phenomenon that I have constantly emphasized over the last five years in my writings. On Wednesday, I had lunch with Brian Jacobs, General Partner at Emergence Capital. We were discussing our respective startup portfolios, and Brian mentioned that his firm’s preferred stage for … Continue reading “The Million Dollar Club”
Telcentris Plans Global Expansion, Fueled by $5.3M from SBD Global
Telcentris, which provides voice over Internet Protocol (VoIP) services through its VoxOx technology platform, has raised $5.3 million from SBD Global Fund in what Telcentris describes as its first round of institutional funding. Telcentris said it plans to use the capital to expand its mobile strategy. Users can download a VoxOx app onto their desktop … Continue reading “Telcentris Plans Global Expansion, Fueled by $5.3M from SBD Global”
Simply Measured Plans to Double Staff with $8M From Bessemer, Others
Simply Measured, a Seattle startup that helps marketers analyze and report on their social media presence, achieved profitability in three years with an investment of only $900,000. But Adam Schoenfeld, chief executive of the 40-person company, and his co-founders Aviel Ginzburg and Damon Cortesi, are raising the stakes with an $8 million Series B investment … Continue reading “Simply Measured Plans to Double Staff with $8M From Bessemer, Others”
U.S.-Based Atari Wants a Reboot, Separation from Cash-Starved Parent
Hoping to start a new legacy, the U.S. branch of venerable video game maker Atari filed for Chapter 11 bankruptcy protection on Monday in New York with plans to restructure as a separate entity from its French parent company, Atari S.A. The domestic divisions of Atari, which has offices in Los Angeles and New York, … Continue reading “U.S.-Based Atari Wants a Reboot, Separation from Cash-Starved Parent”
Astia Forms New Angel Group to Invest in Women-Led Tech Companies
Startups led by women have found a new source of cash. It’s Astia Angel, a network of individual investors affiliated with Astia, the San Francisco-based nonprofit that promotes women-led enterprises in infotech, cleantech, and the life sciences. Astia announced the formation of the network today. Alongside the creation of a separate Astia Fund to provide … Continue reading “Astia Forms New Angel Group to Invest in Women-Led Tech Companies”
Mobile Madness Motor City: Highlights and Takeaways
Startup founders, industry leaders, investors, and a high number of young, engaged Detroiters crowded into the auditorium at the Compuware Building downtown last Thursday for Mobile Madness Motor City, Xconomy’s first mobile technology event in Detroit. We’ve held Mobile Madness events to great success in other cities across the Xconomy network, and Detroit was no … Continue reading “Mobile Madness Motor City: Highlights and Takeaways”
Coming March 19…Mobile Madness 2013: The Next Revolution
Five years. My, how the time has flown by. I’m very pleased to announce Xconomy’s fifth annual spring mobile conference in Boston. “Mobile Madness 2013: The Next Revolution” will take place on the afternoon of March 19, at Microsoft NERD in Kendall Square, Cambridge. Here’s the overall theme. What most of us think of as … Continue reading “Coming March 19…Mobile Madness 2013: The Next Revolution”