After spinning out a startup last year to develop next-generation vaccines, San Diego’s Synthetic Genomics says today it has joined forces with a Mexican investor to form Agradis, an agricultural biotech that will seek to commercialize its advances in plant breeding and genomics. With $20 million in Series A financing, Agradis is intended to accelerate … Continue reading “Synthetic Genomics Spins Out Another Startup, Agradis, Focused on Agricultural Biotechnology”
Category: National
MoneyTree Report: VC Investment in MI Down From Last Year, Up From Last Quarter
The third-quarter 2011 data is in from the MoneyTree Report by Pricewaterhouse Coopers, and it shows that while Michigan’s VC investment decreased by about 20 percent compared to the third quarter of 2010 ($43.2 million invested in 2010, compared to $34.8 million in 2011), it more than doubled compared to the second quarter of 2011, … Continue reading “MoneyTree Report: VC Investment in MI Down From Last Year, Up From Last Quarter”
Facebook Takes Credits to the Web, & Real’s GameHouse is the Petri Dish
Facebook is testing its virtual currency system, Facebook Credits, on sites across the broader Web—and the first public guinea pig is GameHouse, the casual-games division of RealNetworks (NASDAQ: [[ticker:RNWK]]) that is going full-bore after a bigger slice of the social-gaming sector. Facebook Credits allow players to buy “virtual goods” within games they play. So, if … Continue reading “Facebook Takes Credits to the Web, & Real’s GameHouse is the Petri Dish”
Randal Charlton Leaves TechTown to Run New Program for Older Entrepreneurs
Wayne State University’s business incubator TechTown announced today that current executive director Randal Charlton has stepped down to transition into a leadership position with BOOM! The New Economy, a new program supporting the Baby Boom generation’s reinvention as entrepreneurs. Leslie Smith, TechTown’s current general manager, will take over his position starting Nov. 1. TechTown was … Continue reading “Randal Charlton Leaves TechTown to Run New Program for Older Entrepreneurs”
See You This Afternoon at “Computing in the Age of the $1,000 Genome”
We’re getting ready here at Xconomy SF to head over to QB3 at UCSF Mission Bay this afternoon for our big event, “Computing in the Age of the $1,000 Genome.“ This event will bring together an ensemble cast of speakers talking about one of the big challenges in computing today, and how medicine and society … Continue reading “See You This Afternoon at “Computing in the Age of the $1,000 Genome””
VC Investment in MA Companies Falls Back to Earth (from $1B to $505M): Top 10 Q3 Deals
Here comes another venture capital downturn. Maybe. That’s my not-so-definitive take after looking at the VC investment numbers for Massachusetts in the third quarter of 2011, which broadly reflected the national trend as well. How any such downturn will compare to 2008-09 is anyone’s guess. Maybe it’s just a blip, or a healthy resetting after … Continue reading “VC Investment in MA Companies Falls Back to Earth (from $1B to $505M): Top 10 Q3 Deals”
OpenSky Raises $30M in Series C Round with Providence Equity Partners, Others
New York’s OpenSky said in a press release today it raised $30 million in a Series C financing round led by Providence Equity Partners. Existing investors Canaan Partners, Highland Capital Partners, and The Raine Group participated in the round. In two prior funding rounds, OpenSky raised a total of $19 million. OpenSky, which launched its … Continue reading “OpenSky Raises $30M in Series C Round with Providence Equity Partners, Others”
RightNow, BlueStacks, Bridgelux: Bay Area BizTech News by the Numbers
Time for our irregular roundup of business and technology news. Some of this is today’s news, and some is catch-up from last week: $1.5 billion—The approximate price fetched by Bozeman, MT-based RightNow, which was acquired today by Oracle, the Redwood Shores, CA-based database giant. RightNow offers cloud-based customer service and support software. Oracle executive vice … Continue reading “RightNow, BlueStacks, Bridgelux: Bay Area BizTech News by the Numbers”
Sanofi Names David Meeker New CEO of Genzyme, Will Report to Viehbacher
Genzyme only had one leader for more than 25 years, and it has found a new one in David Meeker, now that the company is part of Paris-based pharmaceutical giant Sanofi. Meeker will become the CEO of the Cambridge, MA-based Genzyme unit starting Nov. 1, and will report to Sanofi CEO Chris Viehbacher, according to … Continue reading “Sanofi Names David Meeker New CEO of Genzyme, Will Report to Viehbacher”
Exelixis Passes Key Test With Lead Drug; Stock Soars
Exelixis shareholders have been waiting for months to see how the company’s lead drug would perform in a pivotal clinical trial, and today they got some gratification. The South San Francisco-based company said that cabozantinib was able to keep thyroid tumors from spreading for about seven months longer than a placebo in a study known … Continue reading “Exelixis Passes Key Test With Lead Drug; Stock Soars”
Xconomy Asks the Experts: Can Technology Innovation Really Lower the Cost of Healthcare?
Last week I was struck in particular by a comment that one reader appended to my post about the formation of a $100 million West Health Investment Fund by San Diego philanthropists Gary and Mary West. The Wests say they created the fund (and are providing the entire $100 million themselves) to invest in “cutting-edge” … Continue reading “Xconomy Asks the Experts: Can Technology Innovation Really Lower the Cost of Healthcare?”
Pintley, a MassChallenge Finalist, Looks to Turn Beer Industry On Its Head With Social Apps
I don’t like playing favorites. I just really like beer. Especially after this weekend. But enough about me. A couple of weeks ago, I got to chat with Tim Noetzel, the co-founder of Pintley, a Boston-based beer website that provides personalized recommendations, tasting notes, and a social community. Pintley is a participant in this year’s … Continue reading “Pintley, a MassChallenge Finalist, Looks to Turn Beer Industry On Its Head With Social Apps”
RRE Ventures-Backed Bitly Offers Reputation Monitoring for Professional Users, Plans More Services
The folks at New York’s bitly want to be known for more than shortened links. So the company, funded by investors such as RRE Ventures and AOL Ventures, started a beta trial early this month for a service that monitors the reputations of its enterprise customers. Though it is best-known for those shortened and shared … Continue reading “RRE Ventures-Backed Bitly Offers Reputation Monitoring for Professional Users, Plans More Services”
Tippr’s Martin Tobias: Groupon Clones Done, ‘Arms Dealer’ Approach Paying Off
Updated 10:45 am Pacific After Groupon’s season of woe, a truckload of me-too disappearing acts, and last week’s mass-layoff meltdown at third-place competitor BuyWithMe, it sure isn’t looking like a very bullish time to be operating a daily deals startup. Martin Tobias would disagree. The Seattle entrepreneur, who been through some notable ups and downs … Continue reading “Tippr’s Martin Tobias: Groupon Clones Done, ‘Arms Dealer’ Approach Paying Off”
Biotech VCs Have a Problem, and it Will Get Worse Before It Gets Better
We’ve heard warnings for a couple of years now that the chickens would come home to roost in the biotech venture capital scene. Quite a few VCs just haven’t delivered the returns to back up all their talk, and you can’t wait around forever for things to improve. This drama is going to be long … Continue reading “Biotech VCs Have a Problem, and it Will Get Worse Before It Gets Better”
Attention National Media: It’s Time to Change The Way You Cover Detroit
When the Economist‘s piece on Detroit (“The Parable of Detroit: So Cheap, There’s Hope“) landed in my inbox this morning, I dug in, curious. This is the Economist, after all, which typically puts its jaundiced British eye on American subjects and reports without bias or mercy. Ah, yes, I thought—here comes a super legit international … Continue reading “Attention National Media: It’s Time to Change The Way You Cover Detroit”
Sha Mi, Biogen Idec’s Neurology Ace, to Join “The Genetics Institute Impact” on Dec. 14
One of the scientists at Biogen Idec pushing for a new kind of regenerative medicine got some of her most valuable experience, and inspiration, back in the day at Genetics Institute. So we’re thrilled to have Sha Mi join what is shaping up to be a truly special gathering of alumni from GI, one of … Continue reading “Sha Mi, Biogen Idec’s Neurology Ace, to Join “The Genetics Institute Impact” on Dec. 14″
How Will the $1,000 Genome Change Society? Hear From Wired’s Thomas Goetz, MDV’s Sue Siegel, Kauffman’s John Wilbanks on Monday
When complete human genomes can be sequenced for $1,000 or less, how will this change society? Will all newborns in wealthy countries get sequenced automatically as part of their permanent medical record? Will society start discriminating against people based on their genetic makeup, like the “Gattaca” nightmare scenario? Bioethicists have been discussing these questions for … Continue reading “How Will the $1,000 Genome Change Society? Hear From Wired’s Thomas Goetz, MDV’s Sue Siegel, Kauffman’s John Wilbanks on Monday”
This Week’s Xconomy Report on WGBH: Security Innovation, Vertex, West Coast Acquisitions, & More
Our exciting partnership with the folks at WGBH continues. Check out this morning’s Xconomy report—a roundup of business, technology, and life sciences news that airs every Friday at 7:49am on 89.7 FM. Today’s news: Wilmington, MA-based Security Innovation is involved in a transportation safety project that will test a wireless collision avoidance system for cars. … Continue reading “This Week’s Xconomy Report on WGBH: Security Innovation, Vertex, West Coast Acquisitions, & More”
From the Lab that Brought You Siri, It’s Trapit—A Personalized Discovery Engine
There are two kinds of people: Those who already own an iPhone 4S, and those who don’t but have seen Apple’s Siri ads and wish they did. Siri, of course, is the voice-operated personal assistant that can read your text messages, schedule appointments, check on the weather, make waffles, and babysit your toddler (just kidding … Continue reading “From the Lab that Brought You Siri, It’s Trapit—A Personalized Discovery Engine”
Wayne State Uses Social Media to Mentor Girls in Science, Tech
Wayne State University announced last week that it has received a $1.7 million grant from the National Institute on Minority Health and Health Disparities of the National Institutes of Health to increase the interest of metro Detroit girls in health-related “STEM” disciplines—science, technology, engineering, and mathematics. Sally K. Roberts, faculty adviser for WSU’s Gaining Options-Girls … Continue reading “Wayne State Uses Social Media to Mentor Girls in Science, Tech”
Third Rock Launches Sage, Glaxo Malaria Vaccine Relies on Agenus Technology, Vertex Seeks Approval of Cystic Fibrosis Drug, & More Boston-Area Life Sciences News
This week New England’s life sciences community saw a couple of cool new companies emerge and a few potentially important new treatments reach key milestones. —Boston-based Third Rock Ventures launched its newest startup with $35 million to develop a new class of drugs for brain disorders such as schizophrenia and depression. Sage Therapeutics’ approach is … Continue reading “Third Rock Launches Sage, Glaxo Malaria Vaccine Relies on Agenus Technology, Vertex Seeks Approval of Cystic Fibrosis Drug, & More Boston-Area Life Sciences News”
Hadapt Nabs $8M VC Round, Will Move from New Haven to Boston to Cash In on Big Data
[Updated 12:20pm. See below] A buzz-worthy New England tech startup is relocating from Connecticut to the Boston area after raising a sizable venture capital round, Xconomy has learned. New Haven, CT-based Hadapt has closed a Series A financing round, according to two sources with knowledge of the company. One source puts the round at $8 … Continue reading “Hadapt Nabs $8M VC Round, Will Move from New Haven to Boston to Cash In on Big Data”
Q3 Venture Investing Waxed in Software, Internet, IT—Waned in Life Sciences
The numbers rarely agree, but a third set of venture investment data for the third quarter also shows a nationwide decline in life sciences funding, a trend that’s also apparent in venture data for the San Diego area. The latest venture survey, from Dow Jones VentureSource, shows VCs putting $8.37 billion into 765 deals in … Continue reading “Q3 Venture Investing Waxed in Software, Internet, IT—Waned in Life Sciences”
Biotech Funding in New York: We Have Some Catching Up to Do
According to figures released this morning by Dow Jones VentureSource, 21 NYC-area biotech startups have been funded so far this year, down from 28 by the end of the third quarter of 2010. The dollar amounts have dropped, too: VCs have invested just $200 million in New York biotechs so far this year, compared to … Continue reading “Biotech Funding in New York: We Have Some Catching Up to Do”
Video: What is Cloud Computing, Anyway? These Kids Get Pretty Close
The Seattle area is an undeniable leader in the rapidly growing cloud-computing sector, from tech mega-companies like Microsoft and Amazon, to local branches like the expanding EMC Isilon division, and active investors. We know it’s big. We know it’s important. We know it will change the way things are done. But if you’re not an … Continue reading “Video: What is Cloud Computing, Anyway? These Kids Get Pretty Close”
UW Spinoff Impel NeuroPharma Nabs Two Big Pharma Deals, $500K in Angel Financing
Seattle-based Impel NeuroPharma has gotten a big vote of confidence for its technology that aims to deliver certain drugs more efficiently to the brain. The company, a University of Washington spinout, said today it has secured funding from two of the world’s top 10 pharmaceutical companies, plus another $500,000 in a Series B angel financing. … Continue reading “UW Spinoff Impel NeuroPharma Nabs Two Big Pharma Deals, $500K in Angel Financing”
Analyst: Seattle Genetics on Pace to Smash Wall Street Forecast with Lymphoma Drug Rollout
Seattle Genetics only had 30 full business days in the last quarter to sell its first drug, and at least one analyst says the company nailed the early days of its commercial rollout. The Bothell, WA-based biotech company (NASDAQ: [[ticker:SGEN]]) won FDA approval to start selling brentuximab vedotin (Adcetris) as a new treatment for Hodgkin’s … Continue reading “Analyst: Seattle Genetics on Pace to Smash Wall Street Forecast with Lymphoma Drug Rollout”
Illumina Takes Page From Apple Playbook, in Blending Hardware and Software for the Genome
Illumina has long been about hardware, hardware, hardware. The San Diego-based company became the market leader in DNA sequencing instruments by focusing on the hardware and the consumable chemicals to run the machines. Its scientific customers were basically on their own when it came to finding software to analyze all the DNA data Illumina machines … Continue reading “Illumina Takes Page From Apple Playbook, in Blending Hardware and Software for the Genome”
Venture Industry Calls for Rules Changes to Reopen IPO Market
There was a time when most growing companies went to the public stock markets for the capital they needed to keep hiring and growing—but that time ended a decade ago. At no point since 2001 has the number of initial public offerings per year reached even the minimum levels set in the 1990s. (The pre-1999 … Continue reading “Venture Industry Calls for Rules Changes to Reopen IPO Market”
BuyWithMe Slashes Staff, Reportedly Looking for a Buyer
According to published reports by BetaBeat, TechCrunch and others, New York group-buying deals site BuyWithMe has laid off about 100 people today—about half of its staff—and is seeking a buyer. BuyWithMe, which started in Boston and has offices there, is backed by Bain Capital Ventures and Matrix Partners. BuyWithMe’s CEO Jim Crowley issued the following … Continue reading “BuyWithMe Slashes Staff, Reportedly Looking for a Buyer”
Roche Acquires Anadys, Wests Create $100M Fund, Johnson & Johnson Makes Room for 20 Startups, & More San Diego Life Sciences News
Between the formation of the new $100 million West Health Investment Fund and the new wet-lab space Johnson & Johnson is hosting for as many as 20 startups, you’d have to say it’s been a good week for life sciences innovation in San Diego. Get briefed here or get left behind. —San Diego’s Gary and … Continue reading “Roche Acquires Anadys, Wests Create $100M Fund, Johnson & Johnson Makes Room for 20 Startups, & More San Diego Life Sciences News”
How the iPhone Got Tail Fins—Part 2 of 2
Read part 1 of this post for background. By the early 1920s General Motors realized that Ford, which was now selling the Model T for $290, had an unbeatable monopoly on low-cost automobile manufacturing. Other manufacturers had experimented with selling cars based on an image and brand. (The most notable was an ad by the … Continue reading “How the iPhone Got Tail Fins—Part 2 of 2”
Catabasis Begins Human Trials of Omega-3-Inspired Diabetes Treatment
After Jill Milne and Michael Jirousek left their positions at Sirtris Pharmaceuticals in 2008, they decided to pursue a titillating but still largely unproven idea: that fighting inflammation might help control Type 2 diabetes. On October 5, their startup, Cambridge, MA-based Catabasis Pharmaceuticals, began to test that theory in humans for the first time, with … Continue reading “Catabasis Begins Human Trials of Omega-3-Inspired Diabetes Treatment”
Cisco Scoops Up BNI Video for $99M, Moves Deeper Into TV
The West Coast roll-up of Boston-area tech companies continues. On the heels of Oracle’s acquisition of Endeca this week, networking and communications giant Cisco Systems said today it plans to acquire Boxborough, MA-based BNI Video for $99 million in cash and retention-based incentives. Cisco is one of the startup’s investors. The deal is expected to … Continue reading “Cisco Scoops Up BNI Video for $99M, Moves Deeper Into TV”
Life Sciences 2031: What about 2011?
Last week’s Xconomy New York Life Sciences 2031 symposium produced lots of articulate speculation about the distant future of biotechnology and its related industries. But for those of us who work or invest in life sciences, the discussion did little to answer the pressing question: what can and should we do now to meet the … Continue reading “Life Sciences 2031: What about 2011?”
The Social Network for Cars: Test of the Nation’s First Wireless Collision Avoidance System
A Boston-area security tech company and the University of Michigan are involved in one of the most ambitious—and potentially controversial—transportation projects of our time. It could have major impact on federal legislation, and almost everyone you know. Picture this: You’re driving in your car, approaching an intersection. Maybe you’re speeding a little, going 40 mph … Continue reading “The Social Network for Cars: Test of the Nation’s First Wireless Collision Avoidance System”
Illumina Leads $8M Investment in GenoLogics to Help Manage DNA Data Overload
San Diego-based Illumina, the world’s leading maker of gene sequencing instruments, is getting more serious about software as its customers continue to drown in a sea of cheap DNA data. Victoria, BC-based GenoLogics is announcing today it has raised $8 million in what it called a “strategic financing” led by Illumina (NASDAQ: [[ticker:ILMN]]), the world’s … Continue reading “Illumina Leads $8M Investment in GenoLogics to Help Manage DNA Data Overload”
Xconomist of the Week: Joe Chung Says Redstar Ventures Is Creating Companies for “the TechCrunch Crowd’s Mothers”
“There’s sort of an infinite number of good ways to start a company,” says Xconomist Joe Chung. “One of the fundamental rules in startups is that there really aren’t any rules.” But the serial entrepreneur has some pretty specific plans for how his new creation will pop out startups. That would be Cambridge, MA-based Redstar … Continue reading “Xconomist of the Week: Joe Chung Says Redstar Ventures Is Creating Companies for “the TechCrunch Crowd’s Mothers””
Amgen Cuts 70 Washington Jobs, Hutch Spins Off Blaze Bioscience, Henney Enters the Hall, & More Seattle-Area Life Sciences News
Chronically bad unemployment is the biggest story in the U.S. today, and we had some more bad news about jobs being lost this week in Seattle biotech. But there were a few other good things to report, including a story about a new company being born. —Amgen (NASDAQ: [[ticker:AMGN]]), the Thousand Oaks, CA-based biotech giant, … Continue reading “Amgen Cuts 70 Washington Jobs, Hutch Spins Off Blaze Bioscience, Henney Enters the Hall, & More Seattle-Area Life Sciences News”
Yale Gets Serious About Entrepreneurship
At a university best known for turning out captains of industry and Wall Street hedge fund magnates, Yale is now focusing more attention on nurturing its entrepreneurs. At last week’s inaugural Yale Entrepreneurs Conference, organizers put out a call to alumni to join the efforts of the Yale Entrepreneurial Institute and others to foster entrepreneurship … Continue reading “Yale Gets Serious About Entrepreneurship”
LED Company EcoSense, Flush With $13M From Bain Capital Ventures, Eyes Expansion
Things are looking brighter for New York’s EcoSense Lighting, which on Tuesday said it raised $13 million in a Series B round led by Bain Capital Ventures in Boston. Jeffrey Glass, managing director of Bain, says his firm was attracted to the experience of EcoSense’s management in the LED lighting sector. EcoSense, founded in 2009 … Continue reading “LED Company EcoSense, Flush With $13M From Bain Capital Ventures, Eyes Expansion”
Inrix, Zulily Battle for Top Spot in WA’s Q3 Venture Dollars
Microsoft traffic-data spinout Inrix and flash-sales startup Zulily led the field of Washington state-based companies raising venture capital in the third quarter, which yielded $192.5 million across 27 deals, according to the latest MoneyTree Report from the National Venture Capital Association and PriceWaterhouseCoopers. Inrix‘s $37 million expansion round made news in late July. CEO Bryan … Continue reading “Inrix, Zulily Battle for Top Spot in WA’s Q3 Venture Dollars”
ViaSat Launches Satellite in One Giant Leap for High-Capacity Internet
[Updated 10/20/11 12:45 pm, with ViaSat announcing successful launch.] Carlsbad, CA-based ViaSat (NASDAQ: [[ticker:VSAT]]) says today that yesterday’s launch of its ViaSat-1 satellite was successful, and the spacecraft is now moving into position for its final geosynchronous orbit. The satellite, designed to be the highest data capacity satellite ever built, blasted off from from the … Continue reading “ViaSat Launches Satellite in One Giant Leap for High-Capacity Internet”
Wests Create New $100M Investment Fund Focused on Cutting Healthcare Costs
San Diego philanthropists Gary and Mary West lifted the curtain today on a $100 million fund they have established solely to invest in “cutting-edge” medical technologies and services that offer “the potential to substantially reduce” healthcare costs. The new West Health Investment Fund says it is targeting its investments in “early stage opportunities” with a … Continue reading “Wests Create New $100M Investment Fund Focused on Cutting Healthcare Costs”
EMC Isilon Adding 200 Jobs at Seattle Hub, Already Outgrowing New Offices
Big-data company EMC plans to add 200 jobs at its Seattle-based Isilon branch through 2012, filling out spacious new offices in the city’s Pioneer Square neighborhood—and leading to another hunt for office space in the not-too-distant future. Add those 200 new jobs to the 430 Isilon workers already in Seattle, and some additional people from … Continue reading “EMC Isilon Adding 200 Jobs at Seattle Hub, Already Outgrowing New Offices”
The VeriSign of Privacy? TRUSTe Scales Up and Tackles Mobile, Cloud, and Ads
It’s taken me a long time to figure out TRUSTe. I’ve been to their offices, which are in a swanky building on Second Street in San Francisco’s Financial District, about three times in the last 10 months. But my last story about the company was back in September 2010, when it introduced some new privacy … Continue reading “The VeriSign of Privacy? TRUSTe Scales Up and Tackles Mobile, Cloud, and Ads”
Amgen Confirms 380 Layoffs in R&D; Cuts Coming to Seattle, SF, Boston
Word came out of Amgen last week that it was looking to overhaul its R&D operations, and today the biotech giant confirmed the overhaul is translating into job cuts for 380 people across the company. Thousand Oaks, CA-based Amgen (NASDAQ: [[ticker:AMGN]]) notified 380 employees internally today that their jobs are being eliminated as part of … Continue reading “Amgen Confirms 380 Layoffs in R&D; Cuts Coming to Seattle, SF, Boston”
Vertex Seeks FDA Green Light for Cystic Fibrosis Drug, Second Potential Hit of Big Year
Cambridge, MA-based Vertex Pharmaceuticals is looking to be more than another one-hit biotech wonder. The company, best known for its drug for hepatitis C introduced earlier this year, is now vying for FDA approval of a second treatment that it hopes will shake up the way physicians treat cystic fibrosis, a deadly genetic disease. Vertex … Continue reading “Vertex Seeks FDA Green Light for Cystic Fibrosis Drug, Second Potential Hit of Big Year”
Uber Hits Boston With Its Tech for Luxurious, On-the-Fly Rides
This is not your average cab company. In fact, it’s not a cab company at all. It’s a tech startup enabling urban luxury car services to function a bit more like cabs, while retaining their swank. It’s called Uber (formerly UberCab but renamed to avoid confusion) and it is up and running in Boston as … Continue reading “Uber Hits Boston With Its Tech for Luxurious, On-the-Fly Rides”