San Diego’s Lpath (OTC: [[ticker:LPTN]]), a biotech developing specialized monoclonal antibodies for cancer and other diseases, intends to raise about $10 million through a secondary offering of stock and warrants, according to a recent regulatory filing. The company is working to advance two related drug candidates within an emerging field of medical science that targets … Continue reading “Lpath Looks to Raise $10 Million Through Secondary Offering”
Category: National
A $100 Gift Card Isn’t Worth $100, Says GiftRocket
If you’ve already bought someone a gift card for the holidays, don’t read the rest of this article. It’ll just make you feel bad. Okay, still with me? It turns out most gift cards are worth less than their face value. Quite a lot less—at least, judging from the resale value of gift cards on … Continue reading “A $100 Gift Card Isn’t Worth $100, Says GiftRocket”
Lessons on Bouncing Back From Disaster
Disaster is defined by Merriam-Webster as a sudden or great misfortune or failure. In 2006, NPS Pharmaceuticals had certainly experienced its own “disaster.” With much of the company’s resources dedicated to building a commercial infrastructure in anticipation of FDA approval of its lead product for osteoporosis, the company was thrown a curve ball. NPS received … Continue reading “Lessons on Bouncing Back From Disaster”
Fab.com Raises $40M from Andreessen Horowitz, Ashton Kutcher
Just five months after raising $8 million in a Series A funding round, New York-based daily-deals site Fab.com announced it has brought in a $40 million Series B. The funding was led by Andreessen Horowitz, with participation from existing investors Menlo Ventures, First Round Capital, Baroda Ventures, SoftTech VC, and actor Ashton Kutcher’s A-Grade Investments. … Continue reading “Fab.com Raises $40M from Andreessen Horowitz, Ashton Kutcher”
Mobile Startups Kinvey and Urban Airship Team Up, Share Stories
This is a tale of two CEOs whose reputations precede them. It is a short tale. The news today is that Cambridge, MA-based Kinvey and Portland, OR-based Urban Airship have formed a technology partnership involving mobile applications. Basically, Kinvey will handle the data back-end for mobile app developers whose apps reach end users through “push … Continue reading “Mobile Startups Kinvey and Urban Airship Team Up, Share Stories”
Twilio, Edmodo, Uber: Bay Area Biztech by the Numbers
Here’s your one-stop, data-driven roundup of deals news around the San Francisco Bay Area in the last few days. $110 million—The cash price fetched by Jobs2Web, the San Mateo, CA-based online talent recruiting company purchased this week (PDF) by SuccessFactors (NYSE: [[ticker:SFSF]]). The San Francisco-based maker of cloud-based human resources management software is itself in the midst of … Continue reading “Twilio, Edmodo, Uber: Bay Area Biztech by the Numbers”
Everyday Health is Out to Dominate Media via Video, Apps, and Social
When dot-com entrepreneurs Benjamin Wolin and Michael Keriakos founded Everyday Health in 2002, everyone thought they were nuts. Their idea was to take well-known offline brands in the health industry and give them an online presence—a strategy that during the depths of the dot-com bust seemed mighty risky. “When we told people we wanted to … Continue reading “Everyday Health is Out to Dominate Media via Video, Apps, and Social”
Microsoft, GE Pool Health IT Resources to Form New Company in Seattle
Microsoft and General Electric are mashing together some of their health IT business lines to create a new company in Seattle that will attempt to bring more efficiencies to the massively inefficient $2.6 trillion U.S. healthcare industry. The new company, which doesn’t yet have a name, will be a 50/50 joint venture between Microsoft (NASDAQ: … Continue reading “Microsoft, GE Pool Health IT Resources to Form New Company in Seattle”
The Genetics Institute Impact: Agenda for Xconomy’s Big Event Dec. 14
[Update: Noon ET, 12/9/11] We’re less than a week away from Xconomy’s biggest event of the year for the Boston biotech community, “The Genetics Institute Impact.” This is shaping up to be a truly special reunion for the people who built one of Boston’s pioneering life sciences companies, and who are still making waves in … Continue reading “The Genetics Institute Impact: Agenda for Xconomy’s Big Event Dec. 14”
Xconomist of the Week: Stephen Wolfram on Big Ideas & Companies
Stephen Wolfram is not one to be summed up in a few pithy quotes. Well, too bad. Here is his life in a nutshell: “I grew up in England and went to all sorts of good schools that I thought were completely irrelevant.” “By the time I was 20 years old, I was a physics … Continue reading “Xconomist of the Week: Stephen Wolfram on Big Ideas & Companies”
Zipline’s Wolf Toss Game Goes for Hat Trick Debut on iOS, Android, Chrome
Rolling out a game on two platforms at once is so passé. Why not three at once? That’s the target for Seattle game startup Zipline Games, which is showing off its new game today on iOS, Android, and Google’s Chrome Web browser. “No one’s been crazy enough to hit three platforms, so we thought we’d … Continue reading “Zipline’s Wolf Toss Game Goes for Hat Trick Debut on iOS, Android, Chrome”
Qualcomm Puts $100M into Life Fund, & More San Diego Life Sciences News
There seemed to be a paucity of news from San Diego’s life sciences sector over the past week, which makes our briefing especially brief. —San Diego-based Qualcomm (NASDAQ: [[ticker:QCOM]]) established a $100 million fund for investing in wireless health and related health IT startups. The fund will be managed by Qualcomm Ventures, which already has … Continue reading “Qualcomm Puts $100M into Life Fund, & More San Diego Life Sciences News”
Cambrooke Foods Aims to Help Nourish Patients with Metabolic Disorders
Ayer, MA-based Cambrooke Foods might be a bit deceiving on the surface. It is not a maker of packaged foods the average shopper would pick up at the grocery store. And its founders have no background in the food, health, or nutrition industries. Cambrooke’s founders, David and Lynn Paolella, come from architecture and jeweler backgrounds, … Continue reading “Cambrooke Foods Aims to Help Nourish Patients with Metabolic Disorders”
ViaSat’s High-Capacity Satellite Nears Start of Commercial Operations
A new kind of countdown has begun. Carlsbad, CA-based ViaSat (NASDAQ: [[ticker:VSAT]]) says it recently transmitted the first test data to ViaSat-1, the highest capacity communications satellite ever launched into space. The satellite, launched Oct. 19 from Russia’s Baikonour Cosmodrome, successfully relayed e-mail, streaming video, and Web browsing data to ViaSat’s WildBlue high-speed data network. … Continue reading “ViaSat’s High-Capacity Satellite Nears Start of Commercial Operations”
Affymax Passes FDA Panel Scrutiny, Looks to Challenge Amgen Anemia Drug
Wall Street didn’t give Affymax much of a chance at success today in front of an FDA advisory committee, but the Palo Alto, CA-based company clearly proved its skeptics wrong. Affymax (NASDAQ: [[ticker:AFFY]]) received a 15-1 positive recommendation from an expert panel of FDA advisors today, who said the benefits of its experimental anemia drug … Continue reading “Affymax Passes FDA Panel Scrutiny, Looks to Challenge Amgen Anemia Drug”
Genentech’s Two-Drug Strategy Raises the Bar in Breast Cancer
Two drugs together aren’t always better than one, but today Genentech is making the argument that two antibody treatments in combination are the way to go for certain patients with breast cancer. Genentech, the South San Francisco-based unit of Roche, is announcing today results from a clinical trial that shows patients were able to live, … Continue reading “Genentech’s Two-Drug Strategy Raises the Bar in Breast Cancer”
Mobile Madness NW: Photos from Our Standing-Room-Only Event
Mobile Madness Northwest was a pretty action-packed affair all the way through—from the scramble to get more chairs for our standing-room-only crowd to the networking and conversations that were still going on as the caterers were packing up and going home. It was our first time bringing this specific event to the Seattle area, and … Continue reading “Mobile Madness NW: Photos from Our Standing-Room-Only Event”
Inside Flipboard’s Project to Rethink Its iPad App for the iPhone
Any iPad owner who uses Flipboard a lot knows the familiar disappointed feeling: You left your iPad at home, you’re waiting in line at the grocery store, and you just want to pull out your iPhone and spend a minute or two browsing the app’s beautiful lineup of stories pulled from your Twitter, Facebook, RSS … Continue reading “Inside Flipboard’s Project to Rethink Its iPad App for the iPhone”
Urban Science Expands Detroit Headquarters to Accommodate Growth
Urban Science, a Detroit-based company founded 34 years ago to help bridge science and marketing functions primarily for automotive clients, recently announced it has expanded to a larger and completely renovated 100,000-square-foot space. The new digs, at 400 Renaissance Center in Detroit, will accommodate Urban Science’s growing business and work force. “People think of the … Continue reading “Urban Science Expands Detroit Headquarters to Accommodate Growth”
In Zink’s Quest for Inkless Printers, $35M and New Co-CEOs
Bedford, MA-based Zink Imaging said this week it has closed $35 million in Series B financing led by Genii Capital. The company, whose name stands for “zero ink,” is developing technology for inkless digital printers that can be attached to or integrated with cameras, consoles, and other devices. Zink’s technology was conceived at Polaroid Research … Continue reading “In Zink’s Quest for Inkless Printers, $35M and New Co-CEOs”
Affinity Circles Deal Gives Climber.com Access to More Recruiting Tools
Mingle, a San Diego Internet holding company founded in 2005, says it’s expanding its online recruiting business, Climber.com, with the acquisition of Affinity Circles, a Sunnyvale, CA-based startup built around alumni organizations and other social networks. While financial terms of the deal were not disclosed, Mingle CEO Michael O’Brien sized the deal for me, saying … Continue reading “Affinity Circles Deal Gives Climber.com Access to More Recruiting Tools”
Digital Media Center Looks Ahead at Financing Scene for 2012
Investment bankers, entrepreneurs, and venture capitalists gathered Tuesday morning at the New York offices of accounting and consulting firm Deloitte near Bowling Green to listen to a panel discuss the financing outlook for technology startups in 2012. The event was the first to be presented by the Digital Media Center, a new group formed by … Continue reading “Digital Media Center Looks Ahead at Financing Scene for 2012”
Qualcomm, uTest, Progress, & Others Inking Boston Deals This Week
Acquisitions and big venture financings made up the deals news for New England-area software and IT companies in the past week. —Retroficiency, a Boston-based maker of energy efficiency software, raised $3.3 million in a funding round from Point Judith Capital and acquired the energy efficiency division of one of the venture firm’s other portfolio companies, … Continue reading “Qualcomm, uTest, Progress, & Others Inking Boston Deals This Week”
What’s Ahead for Groupon, LivingSocial? Seattle’s Tippr Has Some Ideas
LivingSocial will skip the IPO and get acquired. Hundreds of smaller daily deals startups will shut their doors. Groupon’s special product offerings will crash and burn. Those are among predictions for 2012 from Seattle’s Tippr, a daily deals startup that focuses mainly on offering white-label services to publishers that want their own discount brands. Headed by … Continue reading “What’s Ahead for Groupon, LivingSocial? Seattle’s Tippr Has Some Ideas”
Momenta Gets a Steal on Promising Scientific Asset from Once-Hot Virdante
When Cambridge, MA-based Momenta Pharmaceuticals said Monday that it had acquired the scientific assets of neighboring Virdante Pharmaceuticals (NASDAQ: [[ticker:MNTA]]), few paid much attention, perhaps because of the deal’s small size. Momenta paid just $4.5 million up front, plus additional milestone payments that could reach $51.5 million over time. But it appears that Momenta is … Continue reading “Momenta Gets a Steal on Promising Scientific Asset from Once-Hot Virdante”
Gary Bloom: The Search-and-Rescue CEO Who Sold eMeter to Siemens
Some Silicon Valley CEOs moonlight as racecar drivers, others as winemakers. Gary Bloom, the outgoing CEO of San Mateo, CA-based eMeter, is probably the only one who spends his off hours as an emergency-response volunteer. Bloom trained a Menlo Park, CA-based FEMA disaster team that helped with the federal responses to Hurricanes Ivan and Gustav. … Continue reading “Gary Bloom: The Search-and-Rescue CEO Who Sold eMeter to Siemens”
25 Photos from Xconomy’s 6×6: Six Cities, Six Big Tech Ideas
What exactly does 6×6 come out to? A half-day of understanding a bit more about how geniuses run companies; listening to innovators share new ways to tackle Web publishing, marketing, travel search, cloud IT, unmanned aerial vehicles, and more; and catching on to new startups. Oh, plus some very high-quality networking. That’s what we saw … Continue reading “25 Photos from Xconomy’s 6×6: Six Cities, Six Big Tech Ideas”
Ingenuitas Puts Open-Source Software to Work in Manufacturing
In ancient Roman times, Ingenuitas was a legal term for those who had been born free, and the word served to distinguish those who had enjoyed freedom since birth from freemen who started out in slavery. Nathan Oostendorp, Katherine Scott, and Anthony Oliver chose Ingenuitas as the name of their startup tech company because the … Continue reading “Ingenuitas Puts Open-Source Software to Work in Manufacturing”
Dendreon Pulls In $125M By Selling Royalty Slice of Merck’s Hepatitis C Drug
Dendreon has never lifted a finger to develop any new drugs for hepatitis C, but now the Seattle cancer drug developer is getting $125 million in cash for its stake in the emerging market for the chronic liver infection. The company (NASDAQ: [[ticker:DNDN]]) said today it made the money by selling off the rights to … Continue reading “Dendreon Pulls In $125M By Selling Royalty Slice of Merck’s Hepatitis C Drug”
Classing Up the Joint
Regular visitors to Xconomy.com may have noticed that we did some redecorating over the weekend. Our new look and feel, courtesy of the crazy talented Rob Hunter of True Italic in New York, is the first in a series of changes we’ll be making over the next few months—all aimed at making it easier and … Continue reading “Classing Up the Joint”
Progress Software, Led by New CEO, Buys Corticon
Some interesting news from the business software world today. Bedford, MA-based Progress Software has acquired decision management firm Corticon of Redwood City, CA. Terms of the deal weren’t announced, but the companies said Corticon’s business rules engine will be integrated into Progress’s responsive process management software package. Mark Allen, the founder and CEO of Corticon, … Continue reading “Progress Software, Led by New CEO, Buys Corticon”
Biogen Idec Boosts Biogenerics Strategy With $300M Samsung Joint Venture
[Updated 12/6/11 10:35 am. See below.] Today Biogen Idec (NASDAQ: [[ticker:BIIB]]) and Seoul, Korea-based conglomerate Samsung announced that they are teaming up to develop and market biosimilars—low-cost versions of biotech drugs that are losing their patent protection. The two companies will form a joint venture, based in Korea, which will be funded by $255 million from … Continue reading “Biogen Idec Boosts Biogenerics Strategy With $300M Samsung Joint Venture”
Theraclone Names Cliff Stocks, Vet of Icos & Calistoga, as New CEO
Theraclone Sciences has been searching for more than a year for a new CEO, and it found one close to home in Cliff Stocks. The Seattle-based biotech company is announcing today that Stocks, a veteran biotech dealmaker with experience at Icos and Calistoga Pharmaceuticals, is taking over as CEO at Theraclone. Stocks is replacing Steve … Continue reading “Theraclone Names Cliff Stocks, Vet of Icos & Calistoga, as New CEO”
Lean Startups? I Prefer Mine Phat
I read the book and found it quite enjoyable. And with all due respect to Eric Ries and all of the VCs out there chasing lean startups, I recognized one simple truth. I still like my startups Phat. A phat startup aims to solve a very big, very difficult problem that will transform an industry. … Continue reading “Lean Startups? I Prefer Mine Phat”
IncubateNYC Hopes to Stir A New Harlem Renaissance With Startups
A campaign to win the contract to bring a technology incubator to Harlem went into high gear on Monday with the launch of a new website. IncubateNYC, a group of entrepreneurs and investors co-founded by Marcus Mayo and Brian Shields, believes it has the answer to the New York City Economic Development Corporation’s request for … Continue reading “IncubateNYC Hopes to Stir A New Harlem Renaissance With Startups”
It Takes a Village to Raise a Biotech Startup: Highlights from the Tweetchat
Carol Gallagher, the former CEO of Calistoga Pharmaceuticals, is glad to see Gilead Sciences spending billions on acquiring a new drug for hepatitis C, rather than spending billions on stock buybacks. And Jason Rhodes, the chief business officer of Epizyme, borrowed a line from Hillary Clinton, on how “it takes a village” to raise a … Continue reading “It Takes a Village to Raise a Biotech Startup: Highlights from the Tweetchat”
EquaShip Fills Out Fundraising Round, Now at $1.5M
EquaShip, the Seattle startup that’s aiming to wrangle dramatically cheaper shipping costs for small and medium-sized businesses, has added another $600,000 in financing from undisclosed investors. That pushes the startup’s total funding to $1.5 million, following the announcement of a $900,000 investment in June. EquaShip rolled out its service in October, targeting the small sellers—many … Continue reading “EquaShip Fills Out Fundraising Round, Now at $1.5M”
How To Build A 100-Year Company? Ask Evernote’s Phil Libin on Feb. 7
I’m a power user of Evernote, the Web-based notekeeping service used by more than 16 million people around the world. I’ve got Evernote’s applications and extensions installed on my Mac, my iPhone, my iPad, and my Web browser, and I’ve saved thousands of items in the system, dating back to June 2008 (the wildflower photo … Continue reading “How To Build A 100-Year Company? Ask Evernote’s Phil Libin on Feb. 7”
While Politicians Fight, Entrepreneurs Focus on “Smart Health”
A new decade of “smart health” arrived in 2011. Granted, it wasn’t always easy to discern – what with the noisy background of healthcare legal challenges and political one-upmanship. Fortunately, even while various policies continue to be ironed out, a set of resilient entrepreneurs have been busy making sure we get smarter about our health. … Continue reading “While Politicians Fight, Entrepreneurs Focus on “Smart Health””
Abine Battles for Consumers’ Online Privacy in Post-Facebook Era
How annoying is the Web? I’m not talking about the nonstop distractions, the social-media window into human stupidity, or even the endless pop-up ads that block your view of the screen. I’m talking about the utter loss of privacy that most consumers have suffered online, yet rarely think about. Sure, the Web is a net … Continue reading “Abine Battles for Consumers’ Online Privacy in Post-Facebook Era”
Clearwire Plans to Sell up to $345M in Stock Following Deal with Sprint
Remember when Sprint (NYSE: [[ticker:S]]) said it would buy more stock if Clearwire made an offering sometime in the future? Well, the bill’s about to come due: Clearwire (NASDAQ: [[ticker:CLWR]]) says it plans to sell $300 million in Class A common shares. The sale’s underwriters also will get a 30-day option to buy up to $45 … Continue reading “Clearwire Plans to Sell up to $345M in Stock Following Deal with Sprint”
Aptera Shuts Down, Nettle Starts Movie App, & More San Diego BizTech News
There wasn’t a lot of news out of San Diego’s high tech community last week. On the other hand, the news we had was big. Get your roundup here. —Aptera Motors, which raised an estimated $36 million in venture funding to develop a teardrop-shaped, three-wheel electric vehicle, shut down its operations Friday, according to an … Continue reading “Aptera Shuts Down, Nettle Starts Movie App, & More San Diego BizTech News”
W Fund Nabs $5M from State to Top Off $25M Investment Pool
The state of Washington is chipping in $5 million from a federal jobs program to put the finishing touch on a new $25 million investment fund that will look to spin more startups out of research labs at the University of Washington, Washington State University, and other local research institutions. Gov. Chris Gregoire is announcing … Continue reading “W Fund Nabs $5M from State to Top Off $25M Investment Pool”
Mobile Madness NW: Free Windows, Android Phones from AT&T
We’re gearing up for Mobile Madness Northwest, Xconomy’s half-day forum focusing on how Northwest innovators are tackling the mobile computing revolution. And if you’re a last-minute shopper, here’s a couple of things that might pique your interest: Registering now saves you $30 over the walk-up price, and our event sponsors at AT&T are giving away … Continue reading “Mobile Madness NW: Free Windows, Android Phones from AT&T”
New Qualcomm Life Subsidiary Rolls Out Wireless Health System
As the third annual mHealth Summit convenes today near Washington, D.C., San Diego-based Qualcomm (NASDAQ: [[ticker:QCOM]]) says it has formed a new subsidiary, Qualcomm Life, from its wireless health business unit. The wireless technology giant says it also has established a $100 million wireless health investment fund that will be managed by Qualcomm Ventures. Qualcomm … Continue reading “New Qualcomm Life Subsidiary Rolls Out Wireless Health System”
ALTe Named to Forbes List of America’s Most Promising Companies
Last week, Forbes magazine announced that Auburn Hills, MI-based ALTe Powertrain Technologies, developer of the first range-extended plug-in hybrid electric vehicle powertrain for light commercial fleet applications, made its list of America’s most promising companies. ALTe is one of only three companies listed in the Capitol Goods industry category, the only hybrid technology company, and the … Continue reading “ALTe Named to Forbes List of America’s Most Promising Companies”
Join Us at 3 pm ET/Noon PT for Tweetchat on Biotech Startups
Quick reminder for those of you on Twitter to join us for a live chat at 3 pm Eastern/Noon Pacific on the state of biotech startups. Carol Gallagher (@carol_gallagher) and Jason Rhodes (@JasonPaulRhodes) are the featured guests, who will field questions on how biotech startups can make it at a time when biotech venture capital … Continue reading “Join Us at 3 pm ET/Noon PT for Tweetchat on Biotech Startups”
SuccessFactors, Admeld, Gowalla: Bay Area Biztech by the Numbers
Time for our irregular, data-driven review of recent Bay Area funding and M&A news and other developments. From biggest to smallest: $3.4 billion—The amount German business software giant SAP (NYSE: [[ticker:SAP]]) expects to pay for San Francisco-based SuccessFactors (NYSE: [[ticker:SFSF]]), the maker of cloud-based human resources management software. The all-cash acquisition was announced Saturday. $400 … Continue reading “SuccessFactors, Admeld, Gowalla: Bay Area Biztech by the Numbers”
Actifio Gets Active With $33.5M Led by Andreessen Horowitz
Actifio is growing like a weed—just like the data it tries to help companies tame—and it has just raised one of the bigger Boston-area tech financing rounds of the year. The Waltham, MA-based data management startup said today it has closed $33.5 million in Series C funding led by new investor Andreessen Horowitz. Previous investors … Continue reading “Actifio Gets Active With $33.5M Led by Andreessen Horowitz”
TappIn Acquired for $9M, Price Could Grow
Seattle file-sharing startup TappIn, formerly known as Homepipe Networks, has been acquired by San Antonio, TX-based GlobalSCAPE (AMEX: [[ticker:GSB]]), a company that provides file transfer software. GlobalSCAPE is paying $9 million up front for TappIn, with another $8 million in possible payments over the next three years if the new property hits revenue and development … Continue reading “TappIn Acquired for $9M, Price Could Grow”