Private research organizations employ almost 31,000 people in San Diego County, more than the number of similar employees in any other California county, according to a new quarterly innovation report from Connect, the local non-profit group for technology and entrepreneurship. Researchers teased that statistic from U.S. Department of Labor data for the third quarter of … Continue reading “Report Shows San Diego’s Innovation Economy Strengthening, Except in Venture Capital”
Category: National
With New Funding, Eliza Plans To Tackle Less Tangible Aspects of Healthcare with Speech Recognition Tech
[Corrected 7/19/11, 5:45 pm. See below.] Last month, Beverly, MA-based Eliza took in its first-ever outside investment, with an undisclosed equity financing from Parthenon Capital Partners, a private equity firm with offices in Boston and San Francisco. Founded in 1999, Eliza offers speech recognition technology that powers automated phone calls to patients on behalf of … Continue reading “With New Funding, Eliza Plans To Tackle Less Tangible Aspects of Healthcare with Speech Recognition Tech”
Veterans of J&J, Pfizer, and Medimmune Seek to Transform Arno into Oncology Powerhouse
The employees at Arno Therapeutics in Parsippany, NJ, have so much empty floor space in their square-shaped office suite that they could set up a volleyball net there and have a daily game. Well, sort of. Arno is one of many emerging “virtual” biotechs, so it outsources much of the clinical development work on its … Continue reading “Veterans of J&J, Pfizer, and Medimmune Seek to Transform Arno into Oncology Powerhouse”
Adchemy Aims to Overhaul Search Engine Marketing By Killing the Keyword
Google is broken. Not in a fundamental way, of course. Given that Google’s search and advertising services are the glue holding the whole Web economy together, you’d know it if something were truly malfunctioning. But Google’s advertising program has a basic flaw, at least according to the executives at Foster City, CA-based Adchemy. It’s a … Continue reading “Adchemy Aims to Overhaul Search Engine Marketing By Killing the Keyword”
Facing An Early Death, Michigan’s Angel Credit Program Finds Few Takers So Far
If Michigan’s angel investor tax credit died an early death and no one was around to notice, did the program ever exist? Come December 31, we’ll find out. The would-be three-year, $27 million program designed to stimulate early stage funding of startups, will end at the end of this year, the victim of Gov. Rick … Continue reading “Facing An Early Death, Michigan’s Angel Credit Program Finds Few Takers So Far”
From Dot Bomb to Great Recession to $30M Acquisition: The Eversave Story
By some counts, the Boston area is home to two of the top four local deals sites in the U.S. I’m talking about BuyWithMe (based in Boston and New York) and Eversave, which is based in Wakefield, MA. The big boys in the field, Groupon and LivingSocial, certainly have a strong presence in Boston, but … Continue reading “From Dot Bomb to Great Recession to $30M Acquisition: The Eversave Story”
Proust.com Debuts with Site Concentrated on Family Social Networking
With an eye for bringing family and intimate friends together, New York’s Proust.com is unveiling its new website today, in a bid to take its online social scrapbook from beta to center stage. While other types of social networks encourage users to amass large and sometimes unwieldy lists of followers and friends, Proust is aiming … Continue reading “Proust.com Debuts with Site Concentrated on Family Social Networking”
Zogenix Strategy Unfolds as it Unveils Plans for Next Drug-and-Device Combo
When I talked to Zogenix CEO Roger Hawley last summer about the San Diego company’s development of a needle-free drug delivery device, he said the startup’s plan hadn’t changed much since Zogenix (NASDAQ: [[ticker:ZGNX]]) was founded in 2006. The company began selling its first product, a needle-free device with a fast-acting painkiller for migraines, early … Continue reading “Zogenix Strategy Unfolds as it Unveils Plans for Next Drug-and-Device Combo”
Ensemble Therapeutics Builds Super-Sized Library of Mid-Sized Drugs
The pharmaceutical business tends to split into a couple of camps: Either molecules ought to be small, or large. But some interesting work these days is happening in the middle, where Cambridge, MA-based Ensemble Therapeutics has been carving out its niche. Ensemble has been toiling away since 2004, based on work in David Liu’s lab … Continue reading “Ensemble Therapeutics Builds Super-Sized Library of Mid-Sized Drugs”
PopCap’s Sale to EA, Intellectual Ventures’ Legal Battle, Frank Artale’s Insights: Your 1-Minute Week in Seattle Tech News
Electronic Arts is betting that the creative minds at Seattle’s PopCap Games can help the console stalwart tackle social network gaming leader Zynga. That’s why EA paid $750 million up front, with incentives to add another $550 million, to acquire the 9-year-old casual game company last week. The deal had been rumored for a few … Continue reading “PopCap’s Sale to EA, Intellectual Ventures’ Legal Battle, Frank Artale’s Insights: Your 1-Minute Week in Seattle Tech News”
Michigan Informatics Startup Intervention Insights Raises $7M+ Series B Round
Intervention Insights of Grand Rapids, MI has raised $7.2 million in venture capital to help commercialize software that helps doctors identify the proper drugs to treat a patient’s specific cancer. Beringea, the private equity/venture capital firm based in Farmington Hills, and Chrysalis Ventures in Louisville, KY, led the startup’s Series B round, which also includes … Continue reading “Michigan Informatics Startup Intervention Insights Raises $7M+ Series B Round”
Energy Secretary Chu Promotes New Detroit-based R&D Partnership With Military
Nothing like a semi-serious Steven Chu joke to start your morning. Speaking at an energy conference in Detroit today, the U.S. Energy Secretary and Nobel Prize winner recalled as a boy in the 1950s the Soviet Union launching Sputnik into space. “It was very disconcerting. The German rocket scientists living in the Soviet Union were … Continue reading “Energy Secretary Chu Promotes New Detroit-based R&D Partnership With Military”
Venture Activity Rises Nationwide, Daylight Solutions’ Infrared Technology Heating Up, Smaller Startups Are Hiring Fewer, & More San Diego BizTech News
The venture news was flying last week like beach chairs in a hurricane, and the Xconomy forecast calls for more venture activity data this week. Get your biztech briefing quick, before I think up any more metaphors. —We got the early returns on quarterly venture capital activity, and more surveys are expected to follow in … Continue reading “Venture Activity Rises Nationwide, Daylight Solutions’ Infrared Technology Heating Up, Smaller Startups Are Hiring Fewer, & More San Diego BizTech News”
Happy Cloud Hits the Mainstream, Tries to Make PC Video Games Faster to Download and Play
This morning was a busy one for Eric Gastfriend, but he made time to chat about his Cambridge, MA-based startup’s coming out of beta. Its goal: to make high-quality PC video games as fast and easy to access as the social-network and casual games that have swept the country over the past few years (think … Continue reading “Happy Cloud Hits the Mainstream, Tries to Make PC Video Games Faster to Download and Play”
Cogenra’s Double Whammy: Solar Arrays that Generate Electricity and Hot Water
A Silicon Valley startup is trying to squeeze more energy out of sunlight by combining photovoltaic arrays with a technology to generate hot water, to lower the costs of both electricity and heat. Based in Mountain View, CA, and backed venture capitalist Vinod Khosla among others, Cogenra Solar has fielded only two installations thus far. … Continue reading “Cogenra’s Double Whammy: Solar Arrays that Generate Electricity and Hot Water”
Shopkick, Assistly, D-Rev: The 1-Minute Version of Last Week’s Bay Area BizTech News
We ran a full complement of startup profiles last week, but on top of that, Bay Area tech companies announced so many funding deals (including some real whoppers, like Jawbone’s $70 million round and Evernote’s $50 million round) that it makes you wonder whether everyone was scrambling to get term sheets signed before all the … Continue reading “Shopkick, Assistly, D-Rev: The 1-Minute Version of Last Week’s Bay Area BizTech News”
Some Future Secrets Revealed: An Update on Recorded Future
The future for most of us is a totally uncharted territory. The noble art of divining doesn’t seem to have made much progress since the days of the Delphic oracle more than 2,000 years ago. But Recorded Future, an American-Scandinavian startup founded by Swedish entrepreneur Christopher Ahlberg and headquartered in the Boston area, claims to … Continue reading “Some Future Secrets Revealed: An Update on Recorded Future”
Foursquare Clutches Its Crown as Location-Based Realm Evolves
Like mechanics building different cars around the same powertrain, makers of many location-based apps work with the platform provided by New York’s Foursquare. Some developers have meshed the check-in system with social connections, while others help movie fans discover the locations where their favorite scenes were shot, among other applications. In spite of its innovations, … Continue reading “Foursquare Clutches Its Crown as Location-Based Realm Evolves”
Loffles Looks to Revamp Online Raffle Tickets With Targeted Ads
Loffles, a Providence, RI-based Web startup, is looking to put a spin on classic entries to raffles, and simultaneously give online advertisers a shot at targeting the consumers they’re actually interested in. Consumers buy into a contest on Loffles not with cash, but with about 45 seconds of their time. Raffle entrants select a prize … Continue reading “Loffles Looks to Revamp Online Raffle Tickets With Targeted Ads”
Encouraged by Early Work on Anti-Cancer Drug, Intellikine Hires New Head for Clinical Trials
San Diego’s Intellikine will be four years old in another month, and CEO Troy Wilson tells me he’s feeling very excited about the venture-backed biotech’s progress so far in developing its pipeline of anti-cancer drugs, including its lead candidate designated INK128. As Luke has reported previously, Intellikine’s research is focused on PI3K, shorthand for a … Continue reading “Encouraged by Early Work on Anti-Cancer Drug, Intellikine Hires New Head for Clinical Trials”
Stop the M&A Obsession: Biotech Needs More Companies to Stay Independent
Given what investment bankers did to the financial system just a couple years ago, it surprises me how many people still accept what they have to say at face value. But quite a few people in biotech are still lapping up all sorts of short-sighted, destructive advice from the financial powers that be. The latest … Continue reading “Stop the M&A Obsession: Biotech Needs More Companies to Stay Independent”
LetterMPress: An iPad App That Brings New Meaning to Movable Type
If you’re a follower of this column, you know that I write a lot about apps for the iPhone and iPad. It’s not just because I’m an Apple fan. It’s also because these revolutionary touchscreen-based devices are attracting some of today’s most creative developers, who are writing software unlike anything we’ve ever seen on other … Continue reading “LetterMPress: An iPad App That Brings New Meaning to Movable Type”
3 Big Ideas from Frank Artale: Seattle’s Startup Ecosystem, VC Ground Rules, & the New Inflection Point
One of the newer venture capitalists plying his trade in Seattle isn’t really all that new. How’s that? I’m talking about Frank Artale, who joined Ignition Partners earlier this year as a managing director. Artale’s a pretty familiar face around the Puget Sound region, having worked at Microsoft (NASDAQ: [[ticker:MSFT]]) for nearly a decade—he was … Continue reading “3 Big Ideas from Frank Artale: Seattle’s Startup Ecosystem, VC Ground Rules, & the New Inflection Point”
Social Contacts and Body Parts: A Rundown of This Month’s NY Tech Meetup
This month’s NY Tech Meetup, held on July 5, brought more than 750 spectators to the NYU Skirball Center for the Performing Arts eager to see some of the latest ideas from local startups, including one group that came out of stealth that same day. Though the event was themed as the “Now Neighborhood,” the … Continue reading “Social Contacts and Body Parts: A Rundown of This Month’s NY Tech Meetup”
Microsoft President Qi Lu on Web Strategy in a Brave New Digital Society: The Video
Attention, techies. Want a deep dive into the future of the Web, search, and online services? Then sit down with Qi Lu, the president of Microsoft’s online services division, if you ever get an opportunity. In the meantime, you can check out this video from Lu’s talk at Microsoft New England Research & Development Center … Continue reading “Microsoft President Qi Lu on Web Strategy in a Brave New Digital Society: The Video”
Amag Eyes Rebound, Idera Surges On Despite Merck KGaA Drop, Verastem Snags $32M, & More Boston-Area Life Sciences News
This week was full of meaty analysis of drug development programs at New England-area biotechs. —Waltham, MA-based Avedro took in $25 million, which it will use to expand commercial operations internationally and to seek FDA clearance in the U.S of its technology that uses the pulse in microwave energy to correct vision. The deal was … Continue reading “Amag Eyes Rebound, Idera Surges On Despite Merck KGaA Drop, Verastem Snags $32M, & More Boston-Area Life Sciences News”
Seattle Deal Roundup: Livemocha, TTM, RootMetrics Raise Money
We’ve got a trio of quick Seattle-area technology fundraising items today, fresh from the SEC filings. Livemocha reports that it has raised about $5 million in a Series C round, which appears like it could grow to the $7.5 million range with warrants and options. I tried to get more details on that aspect from … Continue reading “Seattle Deal Roundup: Livemocha, TTM, RootMetrics Raise Money”
SocMetrics Leads Growing Cluster of Boston Startups Trying to Cash In on Social Media Tech
Who are the most influential people on Twitter and Facebook? Who has the most friends and followers across the various social media platforms? Who cares? Advertisers and brands, that’s who—and an increasing number of businesses of all types. (Not to mention all the narcissists and self-promoters out there, but let’s forget about them while we … Continue reading “SocMetrics Leads Growing Cluster of Boston Startups Trying to Cash In on Social Media Tech”
Assay Depot Creates Online Market for Pfizer, Advanced BioHealing Expands, Organovo Finds Market for Bio-Printing Technology, & More San Diego Life Sciences News
Bio-engineering tissue for use in humans seems to be gaining ground in San Diego, with Organovo and Advanced BioHealing reporting progress on separate fronts. We have that and more as part of our weekly review of local life sciences news. —After developing an Amazon.com-like site that connects biotech scientists with clinical research organizations (CROs) that … Continue reading “Assay Depot Creates Online Market for Pfizer, Advanced BioHealing Expands, Organovo Finds Market for Bio-Printing Technology, & More San Diego Life Sciences News”
Seattle Genetics Lymphoma Drug Gets Second Green Light from FDA Panel
Seattle Genetics batted a clean 2-for-2 today in its appearances in front of an FDA advisory committee. The FDA’s Oncologic Drugs Advisory Committee voted 10-0 to recommend that Seattle Genetics’ brentuximab vedotin (Adcetris), be cleared for sale as a new treatment in the U.S. for anaplastic large cell lymphoma. That decisive vote came after a … Continue reading “Seattle Genetics Lymphoma Drug Gets Second Green Light from FDA Panel”
Seattle Genetics Wins Unanimous OK for Lymphoma Drug from FDA Panel
Seattle Genetics (NASDAQ: [[ticker:SGEN]]) passed its first big test with an FDA advisory panel today with flying colors. An FDA panel of cancer drug experts recommended in a 10-0 vote that the company’s drug for Hodgkin’s lymphoma should be cleared for sale in the U.S. The vote came this morning by the FDA’s Oncologic Drugs … Continue reading “Seattle Genetics Wins Unanimous OK for Lymphoma Drug from FDA Panel”
Verastem, Rooted at MIT, Raises $32 Million and Adds ATV and Astellas to Slate of Investors
Boston-based oncology startup Verastem, which was founded by MIT biologists Robert Weinberg and Eric Lander, has raised $32 million in a Series B financing, the company announced today. Verastem is developing drugs that target cancer stem cells, and it previously raised $16 million from a group led by former Sirtris CEO Christoph Westphal’s Longwood Founders … Continue reading “Verastem, Rooted at MIT, Raises $32 Million and Adds ATV and Astellas to Slate of Investors”
D-Rev Applies Silicon Valley Design (and Business) Thinking to the Developing World
“I am not convinced that I would put my child in an incubator that is made of car parts.” That’s Krista Donaldson speaking. She’s the CEO of Palo Alto, CA-based D-Rev, and the quote says a lot about the non-profit organization and its philosophy on designing healthcare equipment for the developing world. You may have … Continue reading “D-Rev Applies Silicon Valley Design (and Business) Thinking to the Developing World”
Seattle’s Ground Truth Merges with Boston’s Umber Systems to Become NYC-Based Mobile Intelligence Solutions
Consumers who gobble up smartphones and tablets are getting revolutionary tools for work and play. An ever-growing forest of app developers is targeting the devices as a juicy new business platform. But for mobile carriers and marketing pros, it’s all about the data—who’s consuming the bandwidth, what they’re doing online, and what else they might … Continue reading “Seattle’s Ground Truth Merges with Boston’s Umber Systems to Become NYC-Based Mobile Intelligence Solutions”
Institutes Of Medicine Pain Report May Aid Medical Device Makers
When the Institute of Medicine (IOM) released its report on chronic pain late last month, medical device makers cheered. “A landmark report,” a Boston Scientific press release gushed. “Chronic pain is a major public health issue, and we applaud Congress [and] the IOM…for their thoughtful recommendations,” Medtronic senior vice president Tom Tefft said in a … Continue reading “Institutes Of Medicine Pain Report May Aid Medical Device Makers”
Hidden Gems Are Inside UW Computer Science & Engineering. Can They Be Mined?
Although an attentive observer can see a steady stream of news articles from UW Computer Science & Engineering, with more than 40 faculty members and 750 students, there is more going on than is reported. When I was given an opportunity to occupy an office inside the Paul G. Allen Center, I was excited to … Continue reading “Hidden Gems Are Inside UW Computer Science & Engineering. Can They Be Mined?”
SeaGen’s Big Day at the FDA, Hutch Nabs $20M HIV Grant, Allozyne’s Nasdaq Plan, & More Seattle-Area Life Sciences News
This week, all eyes in Seattle biotech are on Seattle Genetics. If you don’t know why, here’s a chance to catch up. If nothing else, this will provide plenty of fodder for conversation at today’s WBBA Summer Social, which I plan to attend this afternoon. —Seattle Genetics (NASDAQ: [[ticker:SGEN]]) is making its case today in … Continue reading “SeaGen’s Big Day at the FDA, Hutch Nabs $20M HIV Grant, Allozyne’s Nasdaq Plan, & More Seattle-Area Life Sciences News”
Second-Quarter VC Activity: Wish They All Could Be California Deals
Venture capital activity that surged during the first three months of 2011 continued to rise through the second quarter, as funding for Internet startups soared by 69 percent over the same quarter last year, according to CB Insights, a New York information and data services firm. In its quarterly venture capital activity report, CB Insights … Continue reading “Second-Quarter VC Activity: Wish They All Could Be California Deals”
Don’t Believe the Hype: Cleantech Is Creating Jobs Now, And Can Generate Many More
There has been endless hype about the so-called clean economy-from both ends of the spectrum. It has been called both “a compelling aspiration and an enigma” and it has been difficult to assess. Discussion has frequently been short on facts and long on anecdotes, speculation, assertion, and partisanship. This is due, in no small part, … Continue reading “Don’t Believe the Hype: Cleantech Is Creating Jobs Now, And Can Generate Many More”
Sanofi Collaboration Drives Regeneron’s Transformation From R&D House to Commercial Player
As the stock market was closing yesterday, Regeneron (NASDAQ: [[ticker:REGN]]) announced long-awaited data from a mid-stage trial of a rheumatoid arthritis drug it is developing with French drug giant Sanofi-Aventis (NYSE: [[ticker:SNY]]). The companies said that patients taking the drug, an antibody called sarilumab (REGN88/SAR153191), along with the commonly used treatment methotrexate achieved a significant improvement … Continue reading “Sanofi Collaboration Drives Regeneron’s Transformation From R&D House to Commercial Player”
Ban.jo Breaches the Barriers Between Location-Based Apps
More and more social networks are offering geolocation. How does a person keep up without joining every service under the sun? A Palo Alto, CA-based startup called Ban.jo hopes to become geo-location central by allowing iPhone or Android mobile users to see who’s nearby, no matter what social network they may be using. Ban.jo founder … Continue reading “Ban.jo Breaches the Barriers Between Location-Based Apps”
Organovo’s Bio-Printing Technology Yields Unanticipated Revenue from Pharma Partners
When I met Organovo CEO Keith Murphy last year, he was searching for commercially viable products the San Diego startup could use to support its business while advancing its long-term goal of using living cells to create kidneys and other vital organs. More recently, a visibly excited Murphy told me he’s discovered an unmet need … Continue reading “Organovo’s Bio-Printing Technology Yields Unanticipated Revenue from Pharma Partners”
Andy Sack on Lighter Capital: Expanding Beyond RevenueLoan to Finance More “Weird Stuff that Makes Money”
Premium goat-milk ice cream. Bouncy-house rentals for kids’ parties. Electronic medical records for psychiatrists. None of these sound like your textbook target for early stage investors, who are often found hunting consumer tech startups that can turn into billion-dollar home runs. For ubiquitous Seattle investor and entrepreneur Andy Sack, that’s precisely the point. Those three … Continue reading “Andy Sack on Lighter Capital: Expanding Beyond RevenueLoan to Finance More “Weird Stuff that Makes Money””
Spark Capital’s Todd Dagres on NY vs. Boston, What’s Beyond Social Media, and Why Tech Investing Is Better Than Making Movies
“The time to invest in social media was two years ago.” That was a quote—or the gist of it, anyway—from Todd Dagres, co-founder and general partner of Spark Capital, during the venture panel at XSITE, Xconomy’s innovation summit last month. Dagres ought to know, since Spark is an investor in both Twitter and Tumblr, the … Continue reading “Spark Capital’s Todd Dagres on NY vs. Boston, What’s Beyond Social Media, and Why Tech Investing Is Better Than Making Movies”
Sorbent Therapeutics Seeks to Fight Heart Failure in Unusual Arena: The Gut
Heart failure is a huge market with 5 million sufferers in the U.S., but it can be a pretty dull space for investors, since it’s widely treated today with cheap generics that have been around a long time. So how is it that Sunnyvale, CA-based Sorbent Therapeutics was able to raise $53 million in venture … Continue reading “Sorbent Therapeutics Seeks to Fight Heart Failure in Unusual Arena: The Gut”
Outbrain Pushes Must-See Content, Attracts Venture Capitalist to its Ranks
News links in the social era get swapped much like baseball cards of old. Readers repost and Like topics they expect their friends to share an interest in. New York startup Outbrain is not out to become your Facebook buddy—but the company will steer you to stories it believes you want to see. Outbrain has … Continue reading “Outbrain Pushes Must-See Content, Attracts Venture Capitalist to its Ranks”
Allozyne Looks to Rustle Up Interest on Wall Street With Backdoor IPO
Any company that aspires to get a listing on the stock market had better be ready for marathon hours with investors, accountants, and lawyers. But there’s a special thicket of challenges to work through when you’re introducing yourself to the NASDAQ the way Seattle-based Allozyne is. The privately-held biotech company is taking the backdoor route … Continue reading “Allozyne Looks to Rustle Up Interest on Wall Street With Backdoor IPO”
Idera Takes Beating on Loss of Merck KGaA Cancer Collaboration, But Remains Committed to Toll-Like Receptors
On July 7, shares of Cambridge, MA-based Idera Pharmaceuticals (NASDAQ: [[ticker:IDRA]]) plummeted 16% to $1.73 after it announced that Germany’s Merck KGaA had decided to halt development of a cancer drug the two companies had been working on together. When Idera’s drug, called IMO-2055, was given in combination with two commonly used chemo drugs and … Continue reading “Idera Takes Beating on Loss of Merck KGaA Cancer Collaboration, But Remains Committed to Toll-Like Receptors”
Yesware’s E-mail Plug-In Works “Down In The Trenches” With Salespeople to Close Deals and Kill Data Entry
Cambridge, MA-based Yesware kicked off late last year with the aim of building an entirely new e-mail system, one that would help salespeople close their deals and help enterprises actually understand their sales forces, says CEO and founder Matthew Bellows. It even raised $1 million on this premise. Then the company’s board spoke up. You … Continue reading “Yesware’s E-mail Plug-In Works “Down In The Trenches” With Salespeople to Close Deals and Kill Data Entry”
Compuware Scoops Up DynaTrace, Medtronic Buys Salient Surgical, Avedro Snaps Up $25M, & More Boston-Area Deals News
Boston-area IT, energy, and life sciences firms are making up for a short week last week with plenty of headlines on acquisitions and venture investments this time around. —Waltham,MA-based business software maker DynaTrace was bought by Detroit-based Compuware (NASDAQ: [[ticker:CPWR]]) for $256 million in cash, a deal that closed on July 1. DynaTrace, whose technology … Continue reading “Compuware Scoops Up DynaTrace, Medtronic Buys Salient Surgical, Avedro Snaps Up $25M, & More Boston-Area Deals News”