Snapette was supposed to be an unusual way for Sarah Paiji to spend the summer between her two years at Harvard Business School. It was a mobile app idea she started working on last winter with Harvard alum Jinhee Ahn Kim, aimed at enabling women to better share and find fashion products in brick-and-mortar stores. … Continue reading “Social Shopping App Snapette’s “Unexpected” Journey Takes It To NY”
Category: National
San Diego Life Sciences Strengthened in Recession, Outpacing Nation
Employment in San Diego’s life sciences sector grew by 15 percent over the past two years, as biopharmas, medical device companies, and other employers added roughly 5,550 jobs here—raising employment in the sector to 41,937 in 2011, according to a report released today by Biocom. The report says overall employment in San Diego increased by … Continue reading “San Diego Life Sciences Strengthened in Recession, Outpacing Nation”
After Demo Day: The Debrief from Y Combinator Startup FutureAdvisor
The explosion in incubators for early stage tech companies has spawned a familiar startup storyline: A team of bright founders hits on a promising idea, builds a prototype, and applies to one of the big-name programs. After they get accepted (or sometimes even if they don’t), it’s off to the races for a few intense … Continue reading “After Demo Day: The Debrief from Y Combinator Startup FutureAdvisor”
Flagship Ventures Plans to Open Michigan Office
Cambridge, MA-based Flagship Ventures, a $900 million fund known for its successes with companies such as Accuri Cytometers and Acceleron Pharma, is planning to open an office in Michigan in the next six months, says Sean O’Donnell, VP at Credit Suisse’s Michigan office. The move comes after Venture Michigan Fund II (VMF II), a fund-of-fund which is … Continue reading “Flagship Ventures Plans to Open Michigan Office”
Keiretsu NW Invested $24M in 2011, Highest Ever in Region
The Northwest chapter of angel investment group Keiretsu Forum says its members invested $24 million in 36 companies last year, the highest total since the regional group was formed in 2005. And most of those investments—29 of the 36—were for businesses in the region, Keiretsu says. Nine of the investments were follow-on rounds, and 27 … Continue reading “Keiretsu NW Invested $24M in 2011, Highest Ever in Region”
See You at New York’s Venture Emergence Today
We’re just a few hours away from the start of Xconomy Forum: New York’s Venture Emergence. But there’s still plenty of time (relatively speaking) to get your tickets. We have nine left and up for grabs, which you can get by clicking here. We have a great lineup of speakers planned, including Fred Wilson, founder … Continue reading “See You at New York’s Venture Emergence Today”
Dendreon Names John Johnson CEO After Volatile Year
Seattle-based Dendreon Corp. (NASDAQ: [[ticker:DNDN]]) said today it has named John Johnson to the position of president and CEO, succeeding longtime CEO Mitchell Gold. Johnson was previously the CEO of East Brunswick, NJ-based Savient Pharmaceuticals (NASDAQ: [[ticker:SVNT]]). The appointment comes after a difficult run for Dendreon. In 2010, the company won approval for sipuleucel-T (Provenge), the … Continue reading “Dendreon Names John Johnson CEO After Volatile Year”
San Diego’s New Downtown Incubator Opens Doors to Internet Startups
After previewing its expansion plans last summer, San Diego’s EvoNexus, the free startup incubator established by the non-profit technology group CommNexus, has opened a newly renovated downtown office space. A dozen early stage companies began moving into the incubator Monday. CommNexus founded EvoNexus in 2009, when San Diego’s innovation economy was reeling from the Great … Continue reading “San Diego’s New Downtown Incubator Opens Doors to Internet Startups”
Apperian, Fiksu, Mobiquity, & Paydiant Join Mobile Madness Lineup
Here’s a quick update on the agenda for Mobile Madness 2012: Total Mobility, the annual half-day mobile conference we are organizing here at Xconomy Boston. The event is taking place on the afternoon of March 14 at Microsoft NERD in Cambridge, MA. We are looking forward to a packed house and some outstanding talks, discussions, … Continue reading “Apperian, Fiksu, Mobiquity, & Paydiant Join Mobile Madness Lineup”
Examville, Coursekit, and Others Disrupt Learning to Get Ahead
New York is known as the home to some of the world’s biggest education publishers, such as Pearson and McGraw-Hill. Even Apple came to New York to make its big iPad textbook announcement two weeks ago. But what’s not as well known is that the city is also teeming with education technology startups—companies leveraging the Web, … Continue reading “Examville, Coursekit, and Others Disrupt Learning to Get Ahead”
AvidBiotics Sees New Angle for Personalized Medicine in Antibiotics
When you hear about personalized medicine, you might think first of the applications for cancer treatment, or maybe cystic fibrosis. But Dave Martin, the former head of R&D at Genentech, is thinking about personalized medicine in a whole new context—for antibiotics. This concept, at South San Francisco-based AvidBiotics, is still at its earliest stages of … Continue reading “AvidBiotics Sees New Angle for Personalized Medicine in Antibiotics”
Vertex’s Big Day Felt Like Moon Landing, Seattle Researcher Says
Bonnie Ramsey said three years ago that a cystic fibrosis drug from Vertex Pharmaceuticals was a huge medical advance in the making, and would end up being an achievement on par with putting a man on the moon, at least for her patients. Yesterday, she says, was the day it truly felt like she was … Continue reading “Vertex’s Big Day Felt Like Moon Landing, Seattle Researcher Says”
Avila, iRobot, Verastem, Illume, & More Boston Deal News
This week’s deal news covered a breadth of sectors: biotech, medical devices, mobile applications, software, and robotics. Not to mention a major venture capital fund raise. —Waltham, MA-based drugmaker Avila Therapeutics was bought by New Jersey-based Celgene (NASDAQ: [[ticker:CELG]]) for $350 million, with as much as another $575 million available in milestones. Avila is a … Continue reading “Avila, iRobot, Verastem, Illume, & More Boston Deal News”
Harvard Experiment Fund, Backed by NEA, Joins Crowded Investor Field
There’s a new player in the seed-stage investment game in Boston. As of this week, the Experiment Fund is open for business at Harvard University, backed by the Silicon Valley venture firm New Enterprise Associates (NEA). The startup investment fund is being hosted by Harvard’s School of Engineering and Applied Sciences in Cambridge, MA. The … Continue reading “Harvard Experiment Fund, Backed by NEA, Joins Crowded Investor Field”
Vertex Gets FDA Go-Ahead To Sell New Cystic Fibrosis Drug
[Updated: 1:25 pm] Vertex Pharmaceuticals is now officially more than just a one-hit wonder. The Cambridge, MA-based biotech company (NASDAQ: [[ticker:VRTX]]), best known for its hepatitis C drug, has won clearance from the FDA to start selling a new twice-daily pill called ivacaftor (Kalydeco) for a rare form of cystic fibrosis. The FDA said today … Continue reading “Vertex Gets FDA Go-Ahead To Sell New Cystic Fibrosis Drug”
New Google Seattle Head Sees “Shocking Diversity” in Local Tech Skills
When Doug Orr first moved up to Google’s Seattle office in mid-2010, he found a lot to like. The infrastructure expert isn’t a California guy—he came to Google by way of Ann Arbor, MI—and found Seattle’s culture, and even its climate, a little more familiar than Silicon Valley’s. “People are pretty laid back here, and … Continue reading “New Google Seattle Head Sees “Shocking Diversity” in Local Tech Skills”
Five Questions for Kemp on Raising VC as a Mature Company
When Long Island, NY-based Kemp Technologies revealed on its blog on January 24 that it had raised $16 million in venture capital, it might have been easy to overlook the funding as just another sign of the latest tech boom. But this was no ordinary funding: Kemp is an 11-year-old company with revenues and profits … Continue reading “Five Questions for Kemp on Raising VC as a Mature Company”
How Trulia Soared Through the Housing Crash
No journalist can resist a good horse race. That’s why most stories about Trulia, the San Francisco-based real estate search company with 17 million users per month, also mention Seattle competitor Zillow (NASDAQ: [[ticker:Z]]). After all, both companies were founded in 2005, and both offer fancy map-driven interfaces for canvassing rental listings and houses for … Continue reading “How Trulia Soared Through the Housing Crash”
StockTwits Expands Services Through Alliance, Hints of More to Come
San Diego’s StockTwits is developing a bit of a Canadian accent, eh, through a partnership being announced today with Toronto-based Q4 Web Systems, which provides online investor relations services for publicly traded companies throughout North America. StockTwits is an online social media network that enables traders and shareholders to share their market insights, ideas, charts, … Continue reading “StockTwits Expands Services Through Alliance, Hints of More to Come”
Optimer, Following Pfizer’s Playbook, Has Big Plans for Antibiotic
Pfizer was where Pedro Lichtinger learned about pharmaceutical marketing from people who did some amazing things. For starters, New York-based Pfizer (NYSE: [[ticker:PFE]]) turned an old-school antifungal medicine into a $1.6 billion cash cow. Now as the CEO of San Diego-based Optimer Pharmaceuticals (NASDAQ: [[ticker:OPTR]]) Lichtinger is borrowing some ideas from that experience, looking to make … Continue reading “Optimer, Following Pfizer’s Playbook, Has Big Plans for Antibiotic”
Sigma Partners Leads $10M Venture Round in San Diego’s MOGL
San Diego’s MOGL, a Web-based customer loyalty and rewards program for restaurants and bars, says it has raised $10 million in venture funding to fuel its expansion into San Francisco, New York, and other markets. The Menlo Park, CA, office of Sigma Partners led the Series B round, which was joined by San Diego’s Avalon … Continue reading “Sigma Partners Leads $10M Venture Round in San Diego’s MOGL”
Vsnap Building Business on Vision of “Ubiquitous” Video Messaging
The blow from getting a higher-than-expected bill from someone like your lawyer could be softened it if came attached to a 60-second video message explaining the special things he or she actually did in detail. At least, that’s what Dave McLaughlin thinks—and he’s building his new startup Vsnap around the idea. McLaughlin has been around … Continue reading “Vsnap Building Business on Vision of “Ubiquitous” Video Messaging”
Four Themes to Watch in Personalized Medicine
Good morning from Mountain View, CA, and from the close of the 2012 Personalized Medicine World Conference, which brought together thought leaders of business, government, healthcare-delivery, research and technology. Four themes that emerged from this year’s program: • Greater optimism, triggered by the 2011 approvals of two major oncologic agents paired with companion diagnostics: vemurafenib … Continue reading “Four Themes to Watch in Personalized Medicine”
Gates, 13 Pharmas Join $785M Push for Neglected Diseases
[Corrected 2/8/12. See below.] The Bill & Melinda Gates Foundation has joined with 13 pharmaceutical companies and leading public health organizations as part of a massive $785 million drive to wipe out—or at least better control—10 historically neglected tropical diseases by the end of the decade. [Edited to reflect that the total value of the … Continue reading “Gates, 13 Pharmas Join $785M Push for Neglected Diseases”
Angel Gambino: The Ultimate Early Adopter Sets Her Sights on Detroit
Serial entrepreneur Angel Gambino has every right to be arrogant—as people with resumes like hers often are—but she’s as down-to-earth and polite as they come. Sure, a casual question about which local gym she prefers reveals that she’s currently training to be an Olympic soccer-team liaison, the Olympics’ most senior volunteer role and one which … Continue reading “Angel Gambino: The Ultimate Early Adopter Sets Her Sights on Detroit”
San Diego Tech Roundup: Qualcomm, TechStars, Apps Challenge & More
—Peter Clarke of EE Times reported that San Diego’s Qualcomm (NASDAQ: [[ticker:QCOM]]) has acquired Andover, MA-based Pixtronix, a startup founded in 2005 to develop Microelectromechanical systems (MEMS) display technology. Qualcomm, which confirmed the deal with EE Times but provided no details or press release about the deal, reportedly spent between $175 million and $200 million … Continue reading “San Diego Tech Roundup: Qualcomm, TechStars, Apps Challenge & More”
FDA Gives Thumbs-Up to Skin Cancer Drug from Genentech and Curis
South San Francisco-based Genentech said today that a cancer drug it developed with Curis (NASDAQ: [[ticker:CRIS]]), which is based in Lexington, MA, was approved by the FDA to treat basal cell carcinoma, a common form of skin cancer. The drug, called vismodegib (Erivedge), will be prescribed to patients with carcinomas that have spread to other … Continue reading “FDA Gives Thumbs-Up to Skin Cancer Drug from Genentech and Curis”
Vision Without Execution is Hallucination
Last week Steve Case wrote an op-ed in the Washington Post called “Give Entrepreneurs Room and They Will Grow the Economy.” For those not familiar with him, Case was the founding CEO of AOL and has been an active healthcare investor, among other things, for the past seven years. My firm, Psilos Group, has co-invested … Continue reading “Vision Without Execution is Hallucination”
Cell Therapeutics Pulls FDA Application, Saying It Isn’t Ready For Panel
Cell Therapeutics suffered an embarrassing defeat the last time it appeared in front of an FDA advisory panel and today the company made a move that will enable it to avoid another public shellacking, at least for a while. The Seattle-based biotech company (NASDAQ: [[ticker:CTIC]]) said today it has withdrawn its application to start selling … Continue reading “Cell Therapeutics Pulls FDA Application, Saying It Isn’t Ready For Panel”
Akamai to Zipcar: A Snapshot of 10 Public Tech Companies in Boston
As we wind down the first month of 2012, I thought I’d take the pulse of some of the bigger technology companies around town. In addition to tracking startups and entrepreneurship, this is an important measure of the health and well-being of the Boston tech community. So here’s a list of 10 well-known public companies, … Continue reading “Akamai to Zipcar: A Snapshot of 10 Public Tech Companies in Boston”
Some “Q’s” for SecondMarket Founder at Our Feb. 1 Venture Forum
“It is the ‘silver’ age of VC/entrepreneurship. It would be the ‘golden’ age if we could fix the liquidity issues.” Those are the words of Michael Greeley, general partner of Flybridge Capital Partners in Boston and treasurer of the National Venture Capital Association, referring to the very tight IPO market that is limiting capital-raising options … Continue reading “Some “Q’s” for SecondMarket Founder at Our Feb. 1 Venture Forum”
Never Back Smug: A Lesson for Life Sciences From Newt Gingrich
Newt Gingrich comes across on TV as someone who radiates smugness. It’s that sense that he’s not just confident in his own abilities, but extremely satisfied with his talents and his utter superiority over mere mortals like you and me. I’m no political pundit, nor a psychologist, so I’ll let others analyze whether Newt is … Continue reading “Never Back Smug: A Lesson for Life Sciences From Newt Gingrich”
ConforMIS Adds $89M to Expand Sales, Manufacturing, Technology
Burlington, MA-based ConforMIS, a medical device company with a newly FDA approved knee replacement system, announced today that it has secured $89 million in a Series E investment. The money comes from London-based AGC Equity Partners, New York-based Axel Johnson, government investment funds from Asia and the United Arab Emirates, as well as other private … Continue reading “ConforMIS Adds $89M to Expand Sales, Manufacturing, Technology”
Tableau’s 10th Year: CEO Christian Chabot Remembers the Lean Years
Earlier this week, Seattle’s Tableau Software announced a big jump in annual sales and major hiring plans—something that’s becoming almost routine for those watching the Stanford-bred data-analysis software company’s growth. Now entering its tenth year, Tableau recently opened a London office and has started to expand into the Asia-Pacific region. By the end of the … Continue reading “Tableau’s 10th Year: CEO Christian Chabot Remembers the Lean Years”
Amylin, Alkermes Win FDA Approval of Once-Weekly Diabetes Drug
[Updated: 3:47 pm] Amylin Pharmaceuticals and Alkermes have gone to the FDA twice before to seek approval of their new diabetes drug, and been turned back, but now the persistence has paid off. The FDA has cleared their once-weekly injectable diabetes drug for sale in the U.S. San Diego-based Amylin (NASDAQ: [[ticker:AMLN]]) and Dublin- and … Continue reading “Amylin, Alkermes Win FDA Approval of Once-Weekly Diabetes Drug”
Apple Textbook Controversy Isn’t About Books-It’s About Teaching
I don’t think there’s ever been a textbook that made it this easy to be a good student. —Roger Rosner, vice president of productivity applications, Apple Whenever a company as powerful as Apple, Facebook, or Google announces a big new product push, it evokes wonder and acclaim from some observers, head-scratching and horror from others, … Continue reading “Apple Textbook Controversy Isn’t About Books-It’s About Teaching”
Infinity Drug Fails in Pancreatic Cancer Trial, Shares Fall
Bad news out today from Infinity Pharmaceuticals. The Cambridge, MA-based biotech company said it is halting a mid-stage clinical trial of its drug for pancreatic cancer early after learning that patients were living longer in the placebo comparison group. Infinity (NASDAQ: [[ticker:INFI]]) shares fell more than 30 percent after the news. The trial of 122 … Continue reading “Infinity Drug Fails in Pancreatic Cancer Trial, Shares Fall”
The Other 99 Percent: Entrepreneurs
In my recent piece Reengineering Capitalism I highlighted a phenomenon that the global entrepreneurship ecosystem is paying very little attention to: Over 99 percent of entrepreneurs who seek funding get rejected. Yet, the entire world is focused on the 1 percent that is “fundable.” The media, when pitched a startup story, is interested in who … Continue reading “The Other 99 Percent: Entrepreneurs”
New Kids on the Startup Block Coming to NY Venture Emergence
Rising stars in the local startup community BarkBox, HackNY, and Gotham Greens will be on hand at Xconomy Forum: New York’s Venture Emergence event on Feb. 1. They will enlighten the crowd with “burst” presentations, during which they’ll describe their companies and their growth plans. It’s all part of an exciting half-day event that will … Continue reading “New Kids on the Startup Block Coming to NY Venture Emergence”
2012 Venture Outlook: Some Bright Spots and Some Gloom
It’s that outlook time of year, and Mark Heesen, president of the National Venture Capital Association (NVCA), was in San Diego earlier this week, talking about the 2012 outlook for venture capital. Today he’ll make a similar presentation to the New Jersey Technology Council. Next week, John Taylor, the NVCA’s director of research is set … Continue reading “2012 Venture Outlook: Some Bright Spots and Some Gloom”
Assholicism: Do CEOs Need to Be Jerks to Be Successful?
It’s a question as old as human nature. You’ve heard the stories, you know all the famous examples. Steve Jobs, Larry Ellison, Michael Eisner, the list goes on. All difficult characters with strong personalities—and hugely successful companies. So, in today’s ultra-competitive tech and business world, does a CEO have to be an asshole to be … Continue reading “Assholicism: Do CEOs Need to Be Jerks to Be Successful?”
OncoGenex Stays in Prostate Cancer Fray, After J&J, Medivation
Prostate cancer was once a backwater for innovation, but suddenly it’s become one of the most competitive battlegrounds in all of biotech. And one of the darkhorses in this race, Bothell, WA and Vancouver, BC-based OncoGenex Pharmaceuticals, is getting ready to show next week whether it has another contender in the pipeline. OncoGenex (NASDAQ: [[ticker:OGXI]]) … Continue reading “OncoGenex Stays in Prostate Cancer Fray, After J&J, Medivation”
Why Biogen Idec Got Out of the Corporate VC Business
Steve Holtzman got his first taste of corporate venture capital back in 1987, when he raised money from SR One, back when it was part of an old company known as Smith, Kline & French. The concept was unorthodox 25 years ago, yet over time, most every Big Pharma company has become an active equity … Continue reading “Why Biogen Idec Got Out of the Corporate VC Business”
Millennium, Vertex, Avila, & More Boston Life Sciences Newsmakers
It was a busy news week in the New England life sciences scene, with acquisitions, clinical data, and partnership deals. —Thanks to a new co-promotion deal, Genzyme will begin marketing a diagnostic test for thyroid cancer developed by South San Francisco-based Veracyte. Genzyme, the Cambridge, MA-based unit of Sanofi (NYSE: [[ticker:SNY]]) makes a common drug … Continue reading “Millennium, Vertex, Avila, & More Boston Life Sciences Newsmakers”
Verastem Bucks the Trend, Raises $55M in IPO
Cambridge, MA-based Verastem, the biotech startup seeking to make drugs against cancer stem cells, found a way to rustle up enough demand from investors to complete its initial public offering. The company (NASDAQ: [[ticker:VSTM]]) said tonight that it raised $55 million by selling 5.5 million new shares at $10 apiece. It was a strong showing … Continue reading “Verastem Bucks the Trend, Raises $55M in IPO”
Long-Awaited Remake of RealNetworks is Under Way-Again
About a year ago, RealNetworks said the elimination of about 10 percent of its workforce officially marked the end of a difficult restructuring period, one that saw nearly 400 layoffs since 2009 and left the digital-media pioneer more focused, efficient, and ready for the future. Turns out that was just a prelude. On Thursday, the … Continue reading “Long-Awaited Remake of RealNetworks is Under Way-Again”
J&J’s Janssen Launches $250,000 Challenge to Improve Transition Care
Janssen Healthcare Innovation, part of Johnson & Johnson’s reconstituted R&D operation in San Diego, is announcing an incentive prize challenge with awards totaling $250,000 for technology solutions that improve care for patients who’ve just been discharged from a hospital. Janssen says it’s working with the National Transitions of Care Coalition to establish criteria and to … Continue reading “J&J’s Janssen Launches $250,000 Challenge to Improve Transition Care”
Xconomist of the Week: Mark Lowenstein on Mobile’s Next Waves
Mark Lowenstein has made some pretty bold statements about what’s going to happen in the wireless industry this year. More mergers and acquisitions among mobile operators. Same goes for the handset makers. Mobile payments won’t take off just yet. And enterprises may have jumped the gun on tablets. Lowenstein, a Verizon Wireless veteran and now … Continue reading “Xconomist of the Week: Mark Lowenstein on Mobile’s Next Waves”
Shout Outs for Avila From Polaris, Atlas, & the Twittersphere
Avila Therapeutics, after just five years in business and $51 million in venture capital, made big news today when it agreed to be acquired by Celgene for $350 million upfront plus another $575 million in milestone payments. Naturally, there are a lot of people celebrating the success of the Bedford, MA-based company today around the … Continue reading “Shout Outs for Avila From Polaris, Atlas, & the Twittersphere”
Not Your Grandfather’s War
War really is going out of style. At least that’s what Joshua Goldstein, professor emeritus of international relations at American University, and Steven Pinker, a psychology professor at Harvard wrote in a New York Times op-ed piece last month. Throughout the editorial, Goldstein and Pinker dissect the meaning of “war” today, its various categorizations, and … Continue reading “Not Your Grandfather’s War”