Back in April 2009, community leaders in Boston were in a tizzy over the prospect of a shutdown at the Boston Globe, where unions were resisting salary and pension cuts proposed by the paper’s owner, the New York Times Co. I didn’t quite understand the leaders’ concerns. As a longtime admirer of the Globe, I … Continue reading “The Tech World Deserves Better Than TechCrunch”
Category: National
BuyWithMe Buys Daily-Deals Site TownHog, Its Sixth Purchase of 2011
BuyWithMe, the New York- and Boston-based local deals startup, said today it has acquired TownHog, a San Francisco-based daily deals site owned by Dotblu. Terms of the deal weren’t disclosed. This is the sixth acquisition of the year for BuyWithMe, continuing a trend of consolidation in the local deals sector. Last month, CEO Jim Crowley … Continue reading “BuyWithMe Buys Daily-Deals Site TownHog, Its Sixth Purchase of 2011”
Take the Interview Takes In $775K for Job Screening Via Video
Score one for video-based recruiting and marketing. (Yes, there are a lot of startups in this sector, plus Skype and Google.) Cambridge, MA-based Take the Interview has closed $775,000 in seed funding this week from angel investors, as well as partners and limited partners of DreamIt Ventures, the startup incubator in New York City in … Continue reading “Take the Interview Takes In $775K for Job Screening Via Video”
American Innovators Lose Big in Newly Passed Patent Bill
American innovation lost big again as the U.S. Senate passed “patent reform” and caved to big business lobbyists at the expense of true innovators in small companies and universities. Bottom line: America has dominated innovation in the world for 100 years based on our patent system and protection of risk-takers. Innovation is the one thing … Continue reading “American Innovators Lose Big in Newly Passed Patent Bill”
Latest in Stroke-Prevention Saga: FDA Panel Backs Drug From J&J and Bayer
Yesterday I wrote about apixaban (Eliquis), a drug that Bristol-Myers Squibb (NYSE: [[ticker:BMY]]) and Pfizer (NYSE: [[ticker:PFE]]) are developing to prevent strokes in patients with the heart-rhythm disorder atrial fibrillation. The folks at Bristol were paying close attention to a meeting at the FDA yesterday, during which an advisory panel to the agency voted on … Continue reading “Latest in Stroke-Prevention Saga: FDA Panel Backs Drug From J&J and Bayer”
Giant Thinkwell Ditches Facebook Games, Dives into the “Live Web” with Flickmob
The Seattle startup that put hip-hop legend Sir Mix-a-Lot back in the national headlines is making a big shift. Giant Thinkwell, a member of the first Seattle TechStars class, has dropped its previous focus on making Facebook-based games for celebrities and is now digging into a new project called Flickmob. It’s still in a semi-private … Continue reading “Giant Thinkwell Ditches Facebook Games, Dives into the “Live Web” with Flickmob”
Aura Adds $4.5M, Syndax To Present Breast Cancer Results at ASCO, PKE Buys Caliper, & More Boston-Area Life Sciences News
This week in New England we’ve seen financings and data updates from drug developers, as well as an acquisition in the life sciences tools space. —An SEC filing revealed that New Haven, CT-based BioRelix has brought in $3.6 million in new funding, as part of a round that could hit $5.3 million. The company is … Continue reading “Aura Adds $4.5M, Syndax To Present Breast Cancer Results at ASCO, PKE Buys Caliper, & More Boston-Area Life Sciences News”
Dendreon Concentrates Job Cuts in Manufacturing, but Seattle Feels the Axe Too
Employees at Seattle-based Dendreon (NASDAQ: [[ticker:DNDN]]) have been on pins and needles for five weeks since they heard layoffs were in the works, and when the bad news came today, few parts of the company were spared. Today’s layoffs of 500 employees, about one-fourth of the workforce, were spread among all functions within the company, … Continue reading “Dendreon Concentrates Job Cuts in Manufacturing, but Seattle Feels the Axe Too”
Crescendo Bioscience Nabs $56M to Help Personalize Rheumatoid Arthritis Therapy
South San Francisco-based Crescendo Bioscience has raked in $56 million today for a technology to help doctors and patients better decide which drug is best for them—especially when tens of thousands of dollars are on the line. Crescendo said today it has raised a total of $56 million in new capital, through a $31 million … Continue reading “Crescendo Bioscience Nabs $56M to Help Personalize Rheumatoid Arthritis Therapy”
Dendreon Whacks 500 Jobs, 25% of Workforce, After Missing Sales Goal
[Updated: 1:15 pm PT] People at Seattle-based Dendreon (NASDAQ: [[ticker:DNDN]]) have been waiting for five weeks to find out how many employees would lose their jobs, after the company said it was falling short of its sales forecast for 2011. Now the other shoe has dropped. Dendreon said today it has cut the jobs of … Continue reading “Dendreon Whacks 500 Jobs, 25% of Workforce, After Missing Sales Goal”
Theraclone Snaps Up $10.6M Financing
Theraclone Sciences acting CEO Steve Gillis dropped a hint earlier this week that he was looking to close another $10 million in financing for the company, and now it’s official. Seattle-based Theraclone, the antibody drug discovery shop, is announcing today it has raised $10.6 million in an extension to its Series B financing. The Series … Continue reading “Theraclone Snaps Up $10.6M Financing”
To Bring Driving into the Infotainment Age, GM’s Palo Alto Office Melds Silicon Valley Fancy with Detroit Pragmatism
I visited GM’s Advanced Technology division in Silicon Valley on August 4, the same day the Detroit giant revealed its second-quarter financial results. The numbers were far better than one might have expected, given the automaker’s troubled recent history. GM said it brought in $2.5 billion in net income in the quarter, which was a … Continue reading “To Bring Driving into the Infotainment Age, GM’s Palo Alto Office Melds Silicon Valley Fancy with Detroit Pragmatism”
Thursday Deals Roundup: Zagat, Platfora, Lending Club & More
Time for our more-or-less daily summary of key deals news in the Bay Area biztech world. —Google announced that it has acquired Zagat, the venerable and popular crowdsourced restaurant guide. Marissa Mayer, Google’s vice president for local, maps, and location services, said the Zagat operation “will be a cornerstone of our local offering—delighting people with … Continue reading “Thursday Deals Roundup: Zagat, Platfora, Lending Club & More”
Oncothyreon CEO Bob Kirkman Takes Leave, Chairman Chris Henney to Fill In
[Updated: 10:28 am PT] Seattle-based Oncothyreon (NASDAQ: [[ticker:ONTY]]) is getting some new executive leadership, at least for a while, anyway. CEO Bob Kirkman is taking what the company calls a “temporary medical leave of absence,” starting Monday, Sept. 12, according to a regulatory filing. While Kirkman is away, chairman Chris Henney will step in to … Continue reading “Oncothyreon CEO Bob Kirkman Takes Leave, Chairman Chris Henney to Fill In”
Arboretum Closes Third Fund with $140 Million
Ann Arbor, MI-based Arboretum Ventures, a venture capital firm specializing in early-stage healthcare investments, today announced the final closing of its third investment fund with capital commitments totaling $140 million, well above the $125 million target for the fund. The firm said in a press release that it now has $235 million in capital under management, and has invested … Continue reading “Arboretum Closes Third Fund with $140 Million”
HookLogic Raises $9.5M in Growth Capital, Will Nearly Double Staff
New York’s HookLogic said in a press release Thursday it raised $9.5 million in financing from Bain Capital Ventures in Boston. This marks the first institutional funding for HookLogic. Jonathan Opdyke, CEO of HookLogic, said in an interview with Xconomy the funding will help his company nearly double its staff. “We’ll hire at least 50 … Continue reading “HookLogic Raises $9.5M in Growth Capital, Will Nearly Double Staff”
Betaspring Unveils 11 New Startups from 2011 Summer Program at Demo Day
[Updated 3:00pm, see below] Providence, RI-based Betaspring, a seed-stage accelerator program in its third year, is holding its Investor Demo Day down in the Ocean State today. Eleven young startups, between three months and a year old, are presenting to an audience of venture capitalists, angel investors, entrepreneurs, and media. Looks like most (if not … Continue reading “Betaspring Unveils 11 New Startups from 2011 Summer Program at Demo Day”
Caliper To Be Acquired By PerkinElmer for $600M
Waltham, MA-based life sciences tools maker PerkinElmer (NYSE: [[ticker:PKI]]) announced this morning that it has agreed to acquire a Bay State neighbor focused on imaging and detection technology, Hopkinton, MA-based Caliper Life Sciences (NASDAQ: [[ticker:CALP]]), for $10.50 per share in cash. Caliper has a major office in Mountain View, CA, as well. The purchase, which comes … Continue reading “Caliper To Be Acquired By PerkinElmer for $600M”
Bristol-Pfizer Team on Alert as FDA Reviews Stroke-Prevention Drug From Rivals J&J and Bayer
In 2007, New York-based pharmaceutical giants Bristol-Myers Squibb (NYSE: [[ticker:BMY]]) and Pfizer (NYSE: [[ticker:PFE]]) formed a deal to develop Bristol’s anti-clotting drug, apixaban (Eliquis). The partnership hit a high point on August 28, when the two companies announced positive results from a Phase 3 trial of the drug in patients with the heart-rhythm disorder atrial … Continue reading “Bristol-Pfizer Team on Alert as FDA Reviews Stroke-Prevention Drug From Rivals J&J and Bayer”
Backupify Brings in $5M Series B
Cambridge, MA-based Backupify, a provider of technology for backing up data stored in e-mail and social media applications, is announcing it has nabbed a $5 million Series B financing, led by existing investor Avalon Ventures. Return investors General Catalyst Partners and Lowercase Capital also participated in the deal, which brings Backupify’s total funding pot to … Continue reading “Backupify Brings in $5M Series B”
Bloomberg Sports Kicks Off New Season of Fantasy Football
As the 2011 pro football season officially kicks off tonight, New York’s Bloomberg Sports hopes managers of fantasy teams will turn to the latest version of its Decision Maker software to help them choose their starting lineups. Backed by analytics developed by media and information services giant Bloomberg LP, Decision Maker aims to serve football … Continue reading “Bloomberg Sports Kicks Off New Season of Fantasy Football”
BigDoor Media Snaps up OneTrueFan as Gamificiation Gets Serious
Gamification as a concept in the broader business world is still in the toddler stage. But that’s soon enough for a little consolidation, right? Guess so. Today, Seattle’s BigDoor Media is announcing the acquisition of San Francisco-based OneTrueFan, a company backed by 500 Startups that uses game mechanics to help website publishers keep their audience … Continue reading “BigDoor Media Snaps up OneTrueFan as Gamificiation Gets Serious”
Theraclone Sniffs Around for $10M, Dendreon Gets Third Factory OK, Zymeworks’ Big Merck Deal, & More Seattle-Area Life Sciences News
This being a short week, I’m reaching back for two weeks’ worth of headlines, especially since a lot of readers are just getting back from vacation. —Seattle’s Theraclone Sciences picked up some national recognition this week by being named one of the Fierce 15 emerging life sciences companies by FierceBiotech. Acting CEO Steve Gillis told … Continue reading “Theraclone Sniffs Around for $10M, Dendreon Gets Third Factory OK, Zymeworks’ Big Merck Deal, & More Seattle-Area Life Sciences News”
Xconomist of the Week: Five Questions with Biocom CEO Joe Panetta
Joe Panetta is a 30-year biotech veteran on both sides of the interface between business and government regulators. He’s spent close to half of that time as president and CEO of Biocom, the San Diego-based regional life sciences industry association. Panetta also happens to be the latest member of the local innovation community to join … Continue reading “Xconomist of the Week: Five Questions with Biocom CEO Joe Panetta”
Aura Biosciences Raises $4.5M to Advance Nano-Drug Weapon Against Cancer
Today, Cambridge, MA-based Aura Biosciences announced that it has raised $4.5 million from a group of private investors. The funding brings the total amount raised by the two-year-old company to $8 million. Founder and CEO Elisabet de los Pinos won’t reveal details about the investors, except to say, “It’s a small group of wealthy individuals … Continue reading “Aura Biosciences Raises $4.5M to Advance Nano-Drug Weapon Against Cancer”
Amazon Tablet Tracker: A Timeline of Leaks, Reports, and Non-Denials
Amazon.com (NASDAQ: [[ticker:AMZN]]) is notoriously tight-lipped about the details of its day-to-day business, telling the press and analysts only what it wants them to know. Ever try to find out how many books they’re selling? How quickly certain types of merchandise is moving? Tough luck. But when it comes to the Seattle e-commerce pioneer’s ambitions … Continue reading “Amazon Tablet Tracker: A Timeline of Leaks, Reports, and Non-Denials”
Program Retraining Workers for ‘Green’ Economy Graduates First 50 Students
As President Obama prepares to roll out a jobs program in a nationwide address tomorrow, the first 50 people to enroll in a six-month program to retrain workers for jobs in biofuels, sustainable biotechnology, and other cleantech industries are graduating today. The students began their technical training earlier this year with classes at UC San … Continue reading “Program Retraining Workers for ‘Green’ Economy Graduates First 50 Students”
Marina Biotech Shuffles Management Team, as RNAi Falls Out of Favor, Cash Runs Low
[Updated: 8:45 am PT, 9/8/11] Bothell, WA-based Marina Biotech (NASDAQ: [[ticker:MRNA]]), the developer of RNA interference drugs, has been struggling to hold on during a period when many drug companies have given up on its technology, and today it’s seeing whether a bunch of new blood in the executive suite can help turn things around. … Continue reading “Marina Biotech Shuffles Management Team, as RNAi Falls Out of Favor, Cash Runs Low”
General Assembly Incubator Takes in $4.25 Million
General Assembly, a New York-based technology incubator, has raised $4.25 million, as announced today on the company’s blog by co-founder Brad Hargreaves. The funding round was led by Maveron, the Seattle-based firm co-founded by Starbucks CEO Howard Schultz, with participation from Amazon’s Jeff Bezos, Yuri Milner, Tom Vander Ark, Alexis Ohanian, Hosain Rahman, and Alex … Continue reading “General Assembly Incubator Takes in $4.25 Million”
Inside Morgenthaler’s Upcoming Health IT Showcase—Videos from the Finalists
At the first DC to VC health IT forum organized by Morgenthaler Ventures last fall, Aneesh Chopra, the chief technology officer of the United States, called for more prize-based competitions to encourage innovation in healthcare and other sectors of the economy. So it’s pretty appropriate that this year’s edition of DC to VC is all … Continue reading “Inside Morgenthaler’s Upcoming Health IT Showcase—Videos from the Finalists”
Wednesday Deals Roundup: IndieGoGo, Project Frog, BlueArc
That’s “deals” as in funding and M&A announcements, not as in daily deals. (Though there’s news today about Groupon as well.) —Crowdfunding startup IndieGoGo of San Francisco said that it has raised $1.5 million in new funding. Metamorphic Ventures, MHS Capital, and Zynga co-founder Steve Schoettler led the round, which the company said will help … Continue reading “Wednesday Deals Roundup: IndieGoGo, Project Frog, BlueArc”
Locu, Formerly Goodplates, Raises Seed Funding to Pursue Online Menu Platform
Locu, a Cambridge, MA-based Web startup, is closing its round of seed funding, with TechCrunch pegging the amount at $623,000. “We ended up getting a really diverse group of investors, both East Coast and West Coast,” CEO Rene Reinsberg tells me. That includes Boston angel investor and HubSpot founder Dharmesh Shah (also an investor in Xconomy), … Continue reading “Locu, Formerly Goodplates, Raises Seed Funding to Pursue Online Menu Platform”
Apperian CEO David Patrick to Moderate Xconomy “Consumers, the Cloud & Beyond” Chat with 3 Leading VCs
Venture capitalists are always interviewing entrepreneurs and CEOs—whether hearing pitches, sitting on boards, or looking for a chief executive to spark growth in a startup they have backed. It isn’t too often that the tables are turned. But they will be for Xconomy’s upcoming evening chat, Consumers, the Cloud & Beyond, featuring three leading venture … Continue reading “Apperian CEO David Patrick to Moderate Xconomy “Consumers, the Cloud & Beyond” Chat with 3 Leading VCs”
Ipierian Hires New CEO to Carry on With Stem Cells for Discovering Neurological Drugs
iPierian, the South San Francisco-based developer of stem cell technology co-founded by top scientists at Harvard University, said today it has hired a new CEO. Nancy Stagliano, the co-founder and former CEO of South San Francisco-based CytomX Therapeutics, has taken the top job at iPierian, while interim CEO Peter Van Vlasselaer has moved aside to … Continue reading “Ipierian Hires New CEO to Carry on With Stem Cells for Discovering Neurological Drugs”
Upping the Ante: San Diego Life Sciences Startups Raise More Cash
Several San Diego life sciences companies raised money in the past few weeks, based on Form D notifications that companies are required to file with government regulators within 15 days after the first sale of securities in such offerings. The filings do not list the investors, however. Here’s a quick rundown of what I found: … Continue reading “Upping the Ante: San Diego Life Sciences Startups Raise More Cash”
Flexible Electronics Startup MC10 Adds $2.25M from Windham
Cambridge, MA-based MC10, a startup that designs stretchy, bendy electronics for various applications, said today it has completed its Series B financing with an additional $2.25 million from New York-based Windham Venture Partners. That brings the total round to $14.75 million, with North Bridge Venture Partners and Braemar Energy Ventures having previously invested. Windham is … Continue reading “Flexible Electronics Startup MC10 Adds $2.25M from Windham”
Livemocha Scales up Online Language Lessons, Lands New Deal in Brazil
For most of its four-year history, Seattle-based Livemocha has built its international language-learning business through the online equivalent of hand-to-hand combat: Amassing individual consumers into a big user base and earning money through advertising or premium services. It’s worked pretty well, with about $14 million in venture funding raised and more than 6 million members … Continue reading “Livemocha Scales up Online Language Lessons, Lands New Deal in Brazil”
Ideeli’s Paul Hurley Talks About Winning Over Investors and Making His Mark in Online Fashion
The dynamics of shopping, especially for fashion, may never be the same again with growth of websites such as New York’s ideeli, which offers limited time “flash sales.” The five-year-old company carries the clout of venture backing that lets it strut through the industry with the confidence of a runway model. “Flash sales are part … Continue reading “Ideeli’s Paul Hurley Talks About Winning Over Investors and Making His Mark in Online Fashion”
Tech Prom, Time Management, and the Future of Marketing: Q&A with Dave Balter
The best way to get to know Dave Balter is over a beer. The founder and CEO of Boston-based marketing firm BzzAgent (now part of U.K.-based Dunnhumby/Tesco) is known for speaking his mind, but over a beer it’s even better. I’m not sure what he was drinking when he replied to my e-mail yesterday as he … Continue reading “Tech Prom, Time Management, and the Future of Marketing: Q&A with Dave Balter”
Amira Pharma on How it Beat the Odds, and Sold an Early Stage Drug to Bristol-Myers for $325M
Amira Pharmaceuticals CEO Bob Baltera has gotten lots of questions lately from his fellow biotech entrepreneurs, which all basically go something like this: “How did you do that?” Baltera has certainly had a lot to talk about since late July when Amira agreed to be acquired by New York-based Bristol-Myers Squibb (NYSE: [[ticker:BMY]]) for $325 … Continue reading “Amira Pharma on How it Beat the Odds, and Sold an Early Stage Drug to Bristol-Myers for $325M”
(Mis)Understanding Drug Discovery: It’s Much Harder Than Rocket Science
Developing new medicines is an amazingly difficult undertaking. The research portion alone is daunting, and for those of us who have actually attempted it, humbling. A recent article reminded me just how little many people understand about the drug discovery process. The basic premise of “Pharma Needs an Innovation Intervention” was that pharma should change … Continue reading “(Mis)Understanding Drug Discovery: It’s Much Harder Than Rocket Science”
PTC Acquires 4CS, Goby Picked Up by TeleNav, Punchbowl Nabs Funding, & More Boston-Area Deals News
It may be a short week around here, but New England has already seen a crop of acquisitions in the Web, enterprise software, and cleantech spaces, along with some startup financing news. —Despite announcing deep cuts to its global R&D operation earlier this year, Pfizer signed a 10-year lease with MIT for more than 180,000 square … Continue reading “PTC Acquires 4CS, Goby Picked Up by TeleNav, Punchbowl Nabs Funding, & More Boston-Area Deals News”
Port of San Francisco Shuts Down Pier 38 Tech Hub—Dogpatch Labs, True Ventures, Automattic Soon to Be Homeless
In a blog post today, Ryan Spoon of Polaris Ventures shared some pretty awful news for the tech startup community in San Francisco. The vibrant collection of startups and related tech firms occupying Pier 38 will have to clear out of the funky but aging structure by the end of September, thanks to a condemnation … Continue reading “Port of San Francisco Shuts Down Pier 38 Tech Hub—Dogpatch Labs, True Ventures, Automattic Soon to Be Homeless”
TechCrunch and CrunchFund: The Conflict-of-Interest Controversy
Is TechCrunch coming apart at the seams, or is it simply going through a leadership transition? Are we witnessing the breakdown of an ill-conceived marriage, or do the events of the last few days amount to publicity ploy—a Britney Spears-style public meltdown, cynically designed to keep the media spotlight fixed in the company’s direction ahead … Continue reading “TechCrunch and CrunchFund: The Conflict-of-Interest Controversy”
Sprint Joins Antitrust Fight with New Lawsuit Against AT&T’s T-Mobile Bid
[Updated at 3:30 pm Pacific with details, AT&T response] Sprint (NYSE: [[ticker:S]]) was already cheering the federal government’s antitrust lawsuit against competitor AT&T’s $39 billion bid to acquire Bellevue, WA-based T-Mobile USA. Now, the third-place U.S. wireless carrier is putting some skin in the game with its own, separate civil suit, filed today in federal … Continue reading “Sprint Joins Antitrust Fight with New Lawsuit Against AT&T’s T-Mobile Bid”
Lead Syndax Drug Shows Survival Benefits in Breast Cancer Trial
Just two months after reporting positive data from a clinical trial of its lead drug candidate in lung cancer, Waltham, MA-based Syndax said today that the same drug performed well in a Phase 2 breast cancer trial. Results from the trial of the drug, called entinostat, will be presented at the American Society of Clinical … Continue reading “Lead Syndax Drug Shows Survival Benefits in Breast Cancer Trial”
Vlingo Lawsuit Charges Nuance With Unfair Competition and Commercial Bribery
A new front has been opened in the longstanding legal war between two Massachusetts speech technology powerhouses. On Thursday, Cambridge, MA-based Vlingo filed a lawsuit in U.S. District Court of Massachusetts charging its much bigger archrival with unfair competition, commercial bribery, breach of contract, and intentional interference with prospective business relationships. Among its chief allegations … Continue reading “Vlingo Lawsuit Charges Nuance With Unfair Competition and Commercial Bribery”
Arctaris Capital Partners Ventures Into Detroit
Why would Waltham, MA-based Arctaris Capital Partners, a venture capital firm seeking new approaches to investment in a post-recession market, choose to open an office in the city that, in the media at least, often serves as the poster child for the carnage wrought by the shrinking American economy? “We started in Detroit 18 months … Continue reading “Arctaris Capital Partners Ventures Into Detroit”
San Diego Life Sciences Leaders Show Support for Governor’s Tax Changes
San Diego’s life sciences and biomedical communities showed their support today for California Gov. Jerry Brown’s tax plan, which he has offered as a way to promote statewide job growth by closing a “toxic tax loophole” and offering other incentives for companies to add jobs. “The majority of Biocom’s members are smaller companies within Southern … Continue reading “San Diego Life Sciences Leaders Show Support for Governor’s Tax Changes”
Tuesday Funding Roundup: Lanyrd, Mashape, Clean Power Finance
Regular visitors to the Xconomy website may have noticed that we recently killed off the “News Xpress” box at the top of each city’s home page. The news that formerly appeared there—mostly notices of venture investments, mergers & acquisitions, and the like—will now show up in the main news stream, alongside our regular features. But … Continue reading “Tuesday Funding Roundup: Lanyrd, Mashape, Clean Power Finance”