Illinois-based Baxter International (NYSE: [[ticker:BAX]]) is tapping into Cambridge, MA-based Momenta Pharmaceuticals’ abilities as a generic drugmaker in a new collaboration deal focused on developing so-called biosimilars, or knockoffs of biologic drugs. Momenta (NASDAQ: [[ticker:MNTA]]) will receive $33 million upfront in the deal, according to an announcement yesterday, and could receive another $419 million in potential milestones … Continue reading “Momenta, Baxter Team Up on Biosimilars”
Category: National
Acceleron Adds $30M From Partner Celgene and Existing Investors
Cambridge, MA-based Acceleron Pharma announced today that it has raised $30 million in a private financing round. One of the participants in this round was Summit, NJ-based Celgene (NASDAQ: [[ticker:CELG]]), which has a partnership with Acceleron to develop two drugs to treat anemia. The two companies expanded their partnership most recently in August, when Celgene … Continue reading “Acceleron Adds $30M From Partner Celgene and Existing Investors”
Boston’s Women in Bio Aims to Fuel STEM Curiosity In Middle Schoolers
According to the National Science Foundation, eighth grade girls are half as likely to be interested in science, technology, engineering and math (STEM) careers as boys—a dramatic change from second grade, where the numbers are roughly equal. This trend continues through high school, college and into the workplace, as even women with advanced science degrees … Continue reading “Boston’s Women in Bio Aims to Fuel STEM Curiosity In Middle Schoolers”
A Sweet Deal: How Amira Reinvented Itself as a Drug Discovery Engine
The sale of Amira Pharmaceuticals will likely go down as one of the standout life sciences deals of 2011—it certainly ranks as one of the biggest payouts in San Diego, where Amira was founded in 2005. But what may be more significant than hitting the bell in the strongman game at the biotech carnival is … Continue reading “A Sweet Deal: How Amira Reinvented Itself as a Drug Discovery Engine”
The Year in Seattle Medical Devices, Diagnostics, Health IT
Yesterday, we ran the first half of the Seattle life sciences year in review, which focused on biopharmaceutical companies and global health organizations. Today’s rundown will cover the medical device, diagnostic, and health IT side of the local life sciences cluster. Medical devices may not fare so well in a glamour contest, but this year … Continue reading “The Year in Seattle Medical Devices, Diagnostics, Health IT”
Avalon’s Kinsella Toasts Debut Vintage of Another Venture
Avalon Ventures founder Kevin Kinsella has demonstrated his prowess in biotech deals, and even in backing an occasional Broadway musical. Now, just in time for the holidays, he’s uncorking the debut vintage of cabernet sauvignon from Kinsella Estates, a winery he and his wife Tamara acquired in Northern California’s Sonoma County four years ago. “The … Continue reading “Avalon’s Kinsella Toasts Debut Vintage of Another Venture”
15 Great Apps for that iPad Under the Tree
The iPad 2 won’t be the only tablet turning up as a holiday gift this year: it’s finally got some real competition in the form of the more affordable Kindle Fire. But let’s face it: you don’t buy (or give someone) a Kindle Fire because of the apps. The device is designed primarily as a … Continue reading “15 Great Apps for that iPad Under the Tree”
Enabling the Cleantech Revolution
[Editor’s note: We asked a group of Xconomists to answer the following question: “If you could patent one thing, what would it be?”] It is a very dynamic time for the emerging cleantech market, and success will only be ensured if strong technologies are combined in systems that work the first time. So, if I … Continue reading “Enabling the Cleantech Revolution”
24-Hour, Full-Genome Scans
[Editor’s note: We asked a group of Xconomists to answer the following question: “If you could patent one thing, what would it be?”] A DNA sequencing technology that results in full genome scans in less than 24 hours. This would enable real-time profiling of cancer patients, which would be of tremendous value in determining the … Continue reading “24-Hour, Full-Genome Scans”
Millennium, Metamark, Amgen, & More Boston Life Sciences Headlines
Big drug collaborations and acquisitions took the spotlight in the New England life sciences news pool this week. —Coronado Biosciences, which moved from New York to Burlington, MA, this past August, debuted on the Nasdaq stock exchange, with an opening share price of $6.50 on Monday. The company (NASDAQ: [[ticker:CNDO]]) went public not through a conventional … Continue reading “Millennium, Metamark, Amgen, & More Boston Life Sciences Headlines”
Google’s New Seattle Director: Cloud Expert Doug Orr
Google’s new site director in Seattle is Doug Orr, a senior engineer at the tech giant who was working most recently on cloud computing projects, two sources tell Xconomy. Orr takes over for Brian Bershad, a former University of Washington professor who is now working for Google in Russia, one of our sources confirms. Word of Bershad’s … Continue reading “Google’s New Seattle Director: Cloud Expert Doug Orr”
Potential Treatment for Degenerative Eye Diseases Developed at Wayne State
Former Wayne State University opthalmology researchers Raymond Iezzi and Rangaramanujam Kannan have developed a new way to treat age-related macular degeneration and retinitis pigmentosa using injections of nanoparticles, the university announced earlier this month. Iezzi, who has since gone on to the Mayo Clinic, and Kannan, who is now with Johns Hopkins, are currently in … Continue reading “Potential Treatment for Degenerative Eye Diseases Developed at Wayne State”
San Diego Life Sciences Roundup: Intellikine, Somaxon, and More
—Merry Christmas, Troy Wilson! Japan’s Takeda Pharmaceutical agreed to pay $190 million upfront, plus another $120 million in future milestone payments, to acquire Intellikine, the San Diego biotech that CEO Wilson co-founded in 2007. Takeda wants to combine Intellikine’s portfolio of small molecule drugs in the PI3 kinase pathway, a hot target in cancer biology, … Continue reading “San Diego Life Sciences Roundup: Intellikine, Somaxon, and More”
Jawbone, Stion, Houzz: Bay Area BizTech by the Numbers
Time for our data-driven roundup of the latest deals news from around the San Francisco Bay Area. $17 to $18 billion—The approximate amount Yahoo could raise by selling off its stakes in China’s Alibaba and Yahoo Japan, according to reports today from Fortune and Dow Jones VentureWire. Yahoo’s board is reportedly considering the transactions this … Continue reading “Jawbone, Stion, Houzz: Bay Area BizTech by the Numbers”
PatientKeeper Inks $6M, Promotes Hazard to Chairman
Waltham, MA-based health IT company PatientKeeper announced today that it has added $6 million in growth financing, from Flybridge Capital Partners, New Enterprise Associates and Whitney & Company. The company, which makes software for improving patient care and physician workflow, said the new money will go to product development and the expansion of its professional … Continue reading “PatientKeeper Inks $6M, Promotes Hazard to Chairman”
Report: Amazon Opening Boston-Area Office
I guess Werner Vogels changed his mind. Amazon.com’s chief technology officer told me a couple years ago that his company had no intention of opening a Boston office. MIT engineers, he said, had no problem moving out west to Seattle to join the e-retail technology giant. I thought that was kind of strange, but Amazon … Continue reading “Report: Amazon Opening Boston-Area Office”
Innovation on Call: Insights from the Stratos Idea Factory
It’s been said plenty of times: If the U.S. wants to get out of this seemingly neverending economic malaise, we’ll have to innovate our way out. It’s a good idea, and a great slogan. But actually making it happen is not so easy. Sean MacLeod, president of Seattle’s Stratos Product Development, sees this kind of … Continue reading “Innovation on Call: Insights from the Stratos Idea Factory”
CrowdOptic Taps Smartphones to Track the Crowd’s Attention
The idea behind CrowdOptic, a service that allows event organizers to figure out what a crowd is looking at by tapping their smartphones, came to CEO and co-founder Jon Fisher last year during a routine meeting. As he sat down to chat with an investor in one of his earlier companies, he caught sight of … Continue reading “CrowdOptic Taps Smartphones to Track the Crowd’s Attention”
Akamai to Buy Cotendo for $268M
Some big acquisition news before the holidays here. Cambridge, MA-based Akamai Technologies (NASDAQ: [[ticker:AKAM]]), the Web delivery and networking giant, said today it is acquiring a competitor, Sunnyvale, CA-based Cotendo, for $268 million in cash. The deal, which has been rumored for the past month, is expected to close in the first half of 2012. … Continue reading “Akamai to Buy Cotendo for $268M”
Early Pharma Partnership Proves Key to Armgo’s Startup Success
On February 1, Armgo Pharma CEO Sapan Shah will join Aisling Capital’s Dennis Purcell on stage at Xconomy’s first big New York conference to tell the inside story of how Aisling turned a Columbia University discovery into a promising biotech company. No doubt much of the discussion will revolve around a French pharmaceutical company called … Continue reading “Early Pharma Partnership Proves Key to Armgo’s Startup Success”
How Not to Name a Startup: The Curse of the Camel Case
What’s in a tech startup name? More specifically, is there a correlation between the type of name a company has and its success? That’s a question every startup founder and investor should be interested in. Because if there is a correlation, then using a name-based strategy for picking winners would be, well, about as good … Continue reading “How Not to Name a Startup: The Curse of the Camel Case”
The Year in Seattle Biotech: Lots of Acquisitions, Few New Startups
This was a great year for Seattle biotech if you measure success through sheer number of acquisitions. But if you prefer to measure the health of an innovation community by the number of exciting new startups it hatches, then this was most certainly a down year. That’s the mixed bag of returns that I saw … Continue reading “The Year in Seattle Biotech: Lots of Acquisitions, Few New Startups”
Boston-Power Adds $30M to Bring Venture Funding Pot to $346M
Anyone who says cleantech companies are having a tough time raising money should take a look at Boston-Power. The Westborough, MA-based advanced lithium-ion battery maker is announcing today that it’s taken in $30 million in equity funding, just three months after announcing a massive $125 million Series F funding round. The company has now attracted … Continue reading “Boston-Power Adds $30M to Bring Venture Funding Pot to $346M”
TechShop Mines Detroit’s Innate DIY Culture With New Location
[Corrected on 12/30/11, 1:25 p.m. See below.] Roughly 18 months after Menlo Park, CA-based TechShop announced it was partnering with Ford on a new location in metro Detroit, the communal, membership-based DIY maker space is ready to welcome the public next week at an open house on Dec. 27. [Paragraph has been updated to reflect … Continue reading “TechShop Mines Detroit’s Innate DIY Culture With New Location”
Seattle Angel Conference: A New Idea for Drafting New Investors
It’s one of the most nagging questions for Seattle-area technology entrepreneurs: How do you get more of the region’s tech wealth invested in local startups? Business veteran John Sechrest sees a possible answer in Oregon, where investors have created a series of events that help get newbie angels into the game. He’s hoping to replicate that … Continue reading “Seattle Angel Conference: A New Idea for Drafting New Investors”
Tutorspree Reveals Sequoia Capital Led Its Seed Round
New York-based startup Tutorspree revealed that its $1 million seed round was led by Sequoia Capital with participation from Founder Collective, Lerer Ventures, Thrive Capital, SV Angel, and individual investors. Tutorspree is an online platform that lets tutors across the country post profiles to offer their expertise and receive reviews from the students they work … Continue reading “Tutorspree Reveals Sequoia Capital Led Its Seed Round”
Game Peripheral Maker Razer Raises $50M in First Round
Carlsbad, CA-based Razer bills itself as a maker of “professional gaming” hardware, which always struck me as an oxymoron, like “jumbo shrimp.” Nevertheless, Razer just demonstrated how serious it is, raising $50 million in a Series A round venture round led by the IDG-Accel China Capital Fund, a global investment fund established by IDG and … Continue reading “Game Peripheral Maker Razer Raises $50M in First Round”
IBM Gets Emptoris, Nuance Buys Vlingo, & More Boston-Area Deals News
Acquisitions and IPO announcements dominated the deals news in New England this week. —Boston-based Third Rock Ventures put $34 million in Series A funding into Ember Therapeutics, a startup that’s developing drugs to fight obesity in a new way. Ember, also of Boston, is harnessing new understanding of the bodily tissue known as brown fat, … Continue reading “IBM Gets Emptoris, Nuance Buys Vlingo, & More Boston-Area Deals News”
Cyber-Ark Closes $40M, Looks to Go Big in Security
Strange name. Big money. Newton, MA-based Cyber-Ark Software said today it has raised $40 million in investment led by Goldman Sachs and Jerusalem Venture Partners. The deal includes the purchase of stock from existing shareholders as well as growth capital. Cyber-Ark had previously raised $25 million in venture and angel capital. Cyber-Ark works in the … Continue reading “Cyber-Ark Closes $40M, Looks to Go Big in Security”
Mindjet Reaches Cloud Altitude with Mind-Mapping Tools
Ask Scott Raskin to name the number-one innovation that changed the world of project management and business collaboration, and he has a surprising answer: the whiteboard. It’s not that the answer is nonsensical—Raskin may well be right. It’s that it’s coming from the CEO of Mindjet, a San Francisco software company devoted to helping workers … Continue reading “Mindjet Reaches Cloud Altitude with Mind-Mapping Tools”
Register Now for NY Venture Forum for a Chance to Win $50 from Gilt
Attention, procrastinators! If you still have some last minute shopping to do, you’re going to love this offer. The next 20 people to purchase Holiday Special or Startup Special tickets between now and December 23rd for our upcoming New York event—Xconomy Forum: New York’s Venture Emergence—will be entered into a drawing to win one of … Continue reading “Register Now for NY Venture Forum for a Chance to Win $50 from Gilt”
HopStop Keeps its Edge in Pedestrian Navigation Despite Competition
Even for natives of busy cities, it is not always easy to know the fastest way to get around town on foot or by public transit. It would be nice to find out about planned changes to subway lines and bus routes, for example, before rushing to stops that might not be in service. That … Continue reading “HopStop Keeps its Edge in Pedestrian Navigation Despite Competition”
Immigrants Fill Top Ranks of Venture-Backed Tech Startups
Immigrant entrepreneurs are playing important roles at U.S. technology startups, with immigrants serving in key management and product development positions at 37 of the top 50 venture-backed companies—or roughly three out of every four of the startups—according to a study released yesterday. “It’s clear that America gains a great deal when we’re open to talent, … Continue reading “Immigrants Fill Top Ranks of Venture-Backed Tech Startups”
Video: Tuan Ha-Ngoc on Learning from Science Whizzes at GI
Tuan Ha-Ngoc remembers feeling like he belonged in the bottom 10 percent in terms of intelligence at Genetics Institute when he was getting started in the 1980s. Looking back, he says he loved it. “Most of the people at Genetics Institute in the 1980s were much smarter than I am,” Ha-Ngoc said. “What a fantastic … Continue reading “Video: Tuan Ha-Ngoc on Learning from Science Whizzes at GI”
The Move to Value-Based Pricing for Prescription Drugs
The standard marketing value equation taught in business school states value equals utility or benefits less costs. Because the relationship between the price of medicines and the value they deliver isn’t always clear, there are those who would argue that the established marketing value equation has not been universally applied by the pharmaceutical industry. The … Continue reading “The Move to Value-Based Pricing for Prescription Drugs”
Nuance’s Vlingo Purchase Seen As Survival Move Against Apple, Google
It’s hard to believe that two companies that have spent the last three years suing each other really mean it when they say that together they will be stronger. I’m talking about speech recognition competitors Cambridge, MA-based Vlingo and Burlington, MA-based Nuance Communications. The two software makers announced Tuesday that Nuance would acquire the younger, … Continue reading “Nuance’s Vlingo Purchase Seen As Survival Move Against Apple, Google”
Millennium: Takeda Acquires San Diego’s Intellikine for $190M Upfront
Japan-based Takeda Pharmaceuticals, which has its cancer drug development operations in Cambridge, MA, said today it is acquiring San Diego-based Intellikine to get ahold of the startup’s portfolio of cancer drugs. Takeda said it has agreed to pay $190 million upfront, plus another $120 million in future milestone payments, to acquire privately held Intellikine. Through … Continue reading “Millennium: Takeda Acquires San Diego’s Intellikine for $190M Upfront”
Qualcomm Co-Founder Irwin Jacobs Plans to Retire from Board
San Diego’s Qualcomm (NASDAQ: [[ticker:QCOM]]) says founding CEO Irwin Jacobs plans to retire from the board this spring, marking his final separation from the San Diego wireless technology giant. Jacobs, 78, co-founded Qualcomm in 1985, and served as chairman and CEO through the company’s first two decades. During the trying early years, Jacobs led a … Continue reading “Qualcomm Co-Founder Irwin Jacobs Plans to Retire from Board”
Digital Lifeboat: Data Backup without the Data Centers
When the veteran entrepreneurs behind Digital Lifeboat settled on a location for their fledgling company, they weren’t concerned with landing one of the hot tech-startup addresses in South Lake Union or Pioneer Square. “Our offices are between the cemetery and the trailer park in Redmond,” co-founder and CEO Steve Teglovic says with a laugh. “That’s … Continue reading “Digital Lifeboat: Data Backup without the Data Centers”
Voyager Capital Aims for $125M in New Fund
Seattle-based venture firm Voyager Capital is raising a new fund pegged at up to $125 million, according to a new filing with federal regulators. The VC firm, which also has offices in Portland and Silicon Valley, finished raising its last fund in 2007 at $107 million. Notable investments from that fund included Ontela, which acquired … Continue reading “Voyager Capital Aims for $125M in New Fund”
Zogenix Sets Timetable for New Painkiller Drug
San Diego-based Zogenix (NASDAQ: [[ticker:ZGNX]]) has an update today on its development of an extended-release and acetaminophen-free formulation of the painkiller, hydrocodone bitartrate, which the company plans to market as Zohydro oral capsules. After agreeing on submission requirements for its reformulated drug in a series of meetings with regulators at the FDA, Zogenix says it … Continue reading “Zogenix Sets Timetable for New Painkiller Drug”
T-Mobile to Grow with AT&T Assets, But Who’s the Next Suitor?
Now back on its own, T-Mobile stands to grow its coverage area with some assets from the breakup penalty that AT&T will pay for its failed buyout attempt. But most of the consolation prize will stay with T-Mobile’s German parent company, which has been looking for a way to exit the U.S. market, rather than … Continue reading “T-Mobile to Grow with AT&T Assets, But Who’s the Next Suitor?”
TripAdvisor Going Public and Independent; Boston Tech Scene Yawns
It’s probably the quietest Boston-area public offering of the year. But why? Maybe because it’s a spinoff from an already public company, and the deal was announced back in April. Or maybe because New England doesn’t go wild for its consumer-focused tech companies the way some other regions do. Or maybe everyone is just sick … Continue reading “TripAdvisor Going Public and Independent; Boston Tech Scene Yawns”
Bruce Montgomery’s New Startup, Cardeas Pharma, Raises $5M
Bruce Montgomery, the prominent Seattle biotech entrepreneur, has raised $5 million for his latest startup, Xconomy has learned. Cardeas Pharma has pulled in $5 million in equity financing, in the first of two planned closings, Montgomery said in an e-mail. The syndicate is being led by Novo Ventures, and includes San Diego-based Avalon Ventures, Seattle-based … Continue reading “Bruce Montgomery’s New Startup, Cardeas Pharma, Raises $5M”
Under Generic Pressure, San Diego’s Somaxon Looks for New Options
Business hasn’t gotten any easier over the past six months for San Diego’s Somaxon Pharmaceuticals (NASDAQ: [[ticker:SOMX]]), which says it has hired the investment banking firm Stifel Nicolaus Weisel to help the company assess its strategic options. The company also laid off 60 percent of its employees who aren’t out in the field. The company … Continue reading “Under Generic Pressure, San Diego’s Somaxon Looks for New Options”
Could RockMelt Become the New Third Party in the Browser Campaigns?
The United States seems stuck with a two-party political system. We don’t always have the same two parties—the Whigs were replaced by the Republicans in the 1850s, for example—but there doesn’t seem to be space in the American psyche for a third major player to take root. Could something similar be true of the Web … Continue reading “Could RockMelt Become the New Third Party in the Browser Campaigns?”
After Years of Legal Battles, Vlingo to Be Acquired by Nuance
Cambridge, MA-based voice-to-text tech startup Vlingo, which just three months ago charged Nuance Communications with unfair competition, commercial bribery, breach of contract, and intentional interference with prospective business relationships, is being acquired by the Burlington, MA-based speech software giant, according to an announcement today. Nuance (NASDAQ: [[ticker:NUAN]]) and Vlingo, which develops speech-recognition technology for cell … Continue reading “After Years of Legal Battles, Vlingo to Be Acquired by Nuance”
Appssavvy, Backed by AOL Ventures, Raises $7.1M in Series 1-A Round
Advertising technology company appssavvy in New York said in a press release issued Tuesday it raised $7.1 million in a Series 1-A round that included new investor AOL Ventures as well as current investors. Three-year-old appssavvy developed an activity-based advertising platform called adtivity. In 2010, the company raised $3.1 million in a round that included … Continue reading “Appssavvy, Backed by AOL Ventures, Raises $7.1M in Series 1-A Round”
Excelimmune Adds $12M to Advance Polyclonal Antibodies
Woburn, MA-based Excelimmune announced today that it has raised $12 million from an undisclosed “private” investor. The funding follows close on the heels of a $10.5 million Series B round the company announced in May. Excelimmune is developing “polyclonal” antibodies, which are therapeutic proteins designed to bind to multiple regions of specific disease-causing antigens. The … Continue reading “Excelimmune Adds $12M to Advance Polyclonal Antibodies”
MIT-Born Enumeral Advances Human-Based Method for Hunting Drugs
Geneticist Arthur Tinkelenberg has always been struck by the lack of strategy in scientific research. “Historically it’s been somewhat ad hoc,” he says. “For example, why do we study fruit flies? Because somewhere in the dim past, somebody did something interesting with a fruit fly, and now you have a whole field.” So when Tinkelenberg … Continue reading “MIT-Born Enumeral Advances Human-Based Method for Hunting Drugs”