Seattle Genetics had some great news for shareholders and cancer patients last September, and now federal securities regulators say it was too good for one of the company’s managers and a member of his family. The Securities and Exchange Commission has accused Zizhong (James) Fan, an employee of Seattle Genetics, of tipping off his family … Continue reading “SEC Accuses Seattle Genetics Employee of Insider Trading”
Category: National
Between a Rock and a Hard Place—JP Morgan Afterthoughts
Yes, the mood has undoubtedly improved in comparison to last year’s gathering of the healthcare investment community around the “old clock” at Union Square in San Francisco. But given the overall depression of last year this was perhaps not all that difficult to achieve. I have mulled over all the conversations I had during the … Continue reading “Between a Rock and a Hard Place—JP Morgan Afterthoughts”
The Age of iPad Superbooks? Not Yet
Jadedness: it’s an occupational hazard in tech journalism. Other people look at new software or gadgets and say “Wow.” I look at them and say “Hmm, needs work.” Last weekend’s New York Times Magazine provided a case in point. Writer Virginia Heffernan reviewed 15-Minute Everyday Pilates, a video e-book from Alameda, CA-based Vook, a publishing … Continue reading “The Age of iPad Superbooks? Not Yet”
Dana-Farber Scientists Leave Board of Startup in Legal Battle with Cancer Center
Boston-area researchers have resigned from the board of a West Coast biotech startup, Gatekeeper Pharmaceuticals, which is at odds over technology rights with major players in the biotech community. Gatekeeper, based in Millbrae, CA, is in a legal battle with Dana-Farber Cancer Institute in Boston and Novartis Institutes for BioMedical Research in Cambridge, MA, over … Continue reading “Dana-Farber Scientists Leave Board of Startup in Legal Battle with Cancer Center”
Plexxikon Cancer Drug Extends Lives, Med Devices Lose Swagger, Amgen Sells Fremont Facility, & More Bay Area Life Sciences News
One of the Bay Area’s emerging biotech companies built up some suspense this week when it said its lead drug helped extend the lives of patients with a deadly skin cancer. —Berkeley, CA-based Plexxikon, along with its partners at the Genentech unit of Roche, said this week that an experimental drug for metastatic melanoma was … Continue reading “Plexxikon Cancer Drug Extends Lives, Med Devices Lose Swagger, Amgen Sells Fremont Facility, & More Bay Area Life Sciences News”
Vertex Drug Gets Speedy FDA Review, BSX Buys Atritech, Ironwood Strikes Another Deal, & More Boston-Area Life Sciences News
We saw some meaty stories on FDA drug approval processes, new collaborations, acquisitions, and hires for Boston’s life sciences firms. —Pfizer’s former chief of licensing Ed Harrigan started a new gig as CEO of stealthy Boston biotech Karuna Pharmaceuticals, a PureTech Ventures-incubated startup that is quietly working on schizophrenia drugs. —Vertex Pharmaceuticals (NASDAQ: [[ticker:VRTX]]) of … Continue reading “Vertex Drug Gets Speedy FDA Review, BSX Buys Atritech, Ironwood Strikes Another Deal, & More Boston-Area Life Sciences News”
Amylin Keeps Its Chin Up After A Rough 2010 With New Diabetes Drug
Amylin Pharmaceuticals CEO Dan Bradbury was brimming with enthusiasm at the JP Morgan Healthcare Conference one year ago. San Diego-based Amylin (NASDAQ: [[ticker:AMLN]]) was psyched about what many analysts thought was a slam-dunk FDA approval for the first diabetes drug that can be injected just once a week. Last week at the same conference, Bradbury … Continue reading “Amylin Keeps Its Chin Up After A Rough 2010 With New Diabetes Drug”
Unitask Is Out to Cut Consulting Costs With Apps for Oracle Business Software
The founders of Unitask aren’t afraid of change. They started a consulting company in Israel, and have since moved to Cleveland, OH, and most recently Bloomfield Hills, MI. And they’ve transitioned their business from a services operation to a software developer. Israeli Navy veterans Michael Segev, Alex Protas, and Yechiel Tushia started their consulting firm … Continue reading “Unitask Is Out to Cut Consulting Costs With Apps for Oracle Business Software”
Venture Capital in the Northwest Still Struggling to Rebound From Downturn
More than a few commentators have referred to the 2000s as a “lost decade” for venture capital. Now that we have closed the book on the past 10 years of venture investments, the numbers show it’s still a pretty discouraging scene out there for venture-backed companies. Venture capitalists invested about $806 million in companies in … Continue reading “Venture Capital in the Northwest Still Struggling to Rebound From Downturn”
A Return to Normalcy: MoneyTree Tracks Venture Funding Gains in 2010
Another report on venture investing is being released today, this time showing a decline in fourth-quarter deal activity compared with the same quarter in 2009—albeit a slight uptick from the previous quarter—and a significant overall gain for the entire year. Venture funding during the fourth quarter of 2010 amounted to $5 billion in 765 deals … Continue reading “A Return to Normalcy: MoneyTree Tracks Venture Funding Gains in 2010”
Searching for Meaning in Google’s Leadership Changes
There’s been an almost comically wide range of reactions on the Web to the word today from Google CEO Eric Schmidt that he’ll become executive chairman effective April 4, handing the reins of the search and advertising giant back to co-founder and former CEO Larry Page, 38. Over at Mashable, they were “reeling” from the … Continue reading “Searching for Meaning in Google’s Leadership Changes”
Say Hello to My Avatar: Bob Metcalfe Gives First UT Innovation Lecture Using Avaya Web Interface
Internet tycoon Bob Metcalfe, who recently moved from Boston, is giving his first lecture as professor of innovation at the University of Texas at Austin this afternoon. I don’t know exactly what he plans to say, but what’s particularly interesting is how he’s delivering the talk—to more than just the people in the room, through … Continue reading “Say Hello to My Avatar: Bob Metcalfe Gives First UT Innovation Lecture Using Avaya Web Interface”
Ex-Pfizer Exec Ed Harrigan Takes Top Job at Secretive Karuna Pharmaceuticals
The former chief of licensing for the drug giant Pfizer has stepped in as CEO of Karuna Pharmaceuticals, a stealthy Boston startup focused on new treatments for schizophrenia. Ed Harrigan tells me that he started the job at Karuna this month. Karuna has two novel programs in development for the treatment of schizophrenia, Harrigan says. … Continue reading “Ex-Pfizer Exec Ed Harrigan Takes Top Job at Secretive Karuna Pharmaceuticals”
J&J Subsidiary Backs Alzheimer Drug Discovery at Sanford-Burnham, Portable Genomics to Move to San Diego, Ardea Plans Secondary Stock Offering, & More San Diego Life Sciences News
It was relatively quiet for life science news in San Diego over the past week, but it was nevertheless encouraging, with a new research collaboration, new funding, and a new company planning to move here. Our roundup begins now. —San Diego’s Sanford-Burnham Medical Research Institution announced a three-year pact with a Johnson & Johnson subsidiary … Continue reading “J&J Subsidiary Backs Alzheimer Drug Discovery at Sanford-Burnham, Portable Genomics to Move to San Diego, Ardea Plans Secondary Stock Offering, & More San Diego Life Sciences News”
Is the U.S. Losing its Medical Device Innovation Mojo? PwC Report Says Yes
The United States has been the undisputed leader in medical device innovation for the past 50 years. But there are some out there who insist that title is in jeopardy. It would certainly take a breathtaking free fall, if you look at the standings today. The U.S. is where most of the R&D gets done, … Continue reading “Is the U.S. Losing its Medical Device Innovation Mojo? PwC Report Says Yes”
VChatter, the “Safe” Alternative to ChatRoulette, Doubles Down
Menlo Park, CA, startup vChatter, which runs video chat services that randomly link users on Facebook, Bebo, and the Web, said today that it has raised an additional $350,000 in seed funding from individual investors, bringing its total capitalization to $600,000. The company markets itself as a PG-rated alternative to ChatRoulette, the once-trendy social video … Continue reading “VChatter, the “Safe” Alternative to ChatRoulette, Doubles Down”
Theraclone Nabs Big Pfizer Deal, Dendreon Pockets $540M, Seattle Genetics’ Close-Up, & More Seattle-Area Life Sciences News
One of the Accelerator graduates made news last week (Allozyne) and this week another alumnus from the Seattle biotech startup propeller took its turn making headlines. —Seattle-based Theraclone Sciences (an Accelerator grad) said it has formed an alliance with the world’s largest drugmaker, New York-based Pfizer (NYSE: [[ticker:PFE]]). Pfizer will get access to Theraclone’s antibody … Continue reading “Theraclone Nabs Big Pfizer Deal, Dendreon Pockets $540M, Seattle Genetics’ Close-Up, & More Seattle-Area Life Sciences News”
Real Men Don’t Need Fabs: Part 2 of Our Interview with Marvell CEO Sehat Sutardja
Yesterday we published the first part of an in-depth Q&A with Sehat Sutardja, the notoriously hands-on CEO of Marvell Technology Group. The Santa Clara, CA, company (NASDAQ: [[ticker:MRVL]]) has spent the last 16 years building power-efficient “mixed-signal” analog and digital chips for devices such as disk drives, cell phones, and portable media players. The first … Continue reading “Real Men Don’t Need Fabs: Part 2 of Our Interview with Marvell CEO Sehat Sutardja”
Belle Capital to Launch Michigan Fund for Startups with Women in Charge
Lauren Flanagan believes that “making money is beautiful.” This is not to be confused with the “greed is good” adage of the famous fictional Gordon Gekko. No, what Flanagan is referring to is the name of her newly formed Michigan-based early-stage fund, Belle Capital. The fund of up to $25 million is planning a formal … Continue reading “Belle Capital to Launch Michigan Fund for Startups with Women in Charge”
Isabella Products To Add Wireless USB and Children’s Tablet Device to Better Connect Families
[Corrected 1/20/11, 3:40 pm. See below.] Last spring, Isabella Products unleashed a two-way connected digital photo frame powered by a cellular modem. It was an attempt to modernize a product that’s basically remained the same over the last decade or so, taking the technology into the world of constant wireless connectivity that we’ve come to … Continue reading “Isabella Products To Add Wireless USB and Children’s Tablet Device to Better Connect Families”
Sanford-Burnham, Receptos Join “San Diego’s Fight Against Diabesity” on Jan. 27
There’s a biotech “Big Three” in San Diego fixated on developing new diabetes and obesity drugs (Amylin, Arena, Orexigen). But they aren’t the only ones in town dedicated to treating these closely related public health scourges. So I’ve been rounding up more and more creative businesspeople from all over the West Coast to add their … Continue reading “Sanford-Burnham, Receptos Join “San Diego’s Fight Against Diabesity” on Jan. 27″
EveryScape Founder Mok Oh Leaves Firm, Looks for New Ways to Map Online to the Real World
Want to peer into the mind of an entrepreneur who’s starting over after nearly nine years in the trenches? Or maybe you’d like a glimpse of the Next Big Thing through the eyes of a deep technologist? Me too. That’s why I caught up with Mok Oh yesterday. The founder and former chief technology officer … Continue reading “EveryScape Founder Mok Oh Leaves Firm, Looks for New Ways to Map Online to the Real World”
No Time for Small Bets: The Decades-Long View of Sapphire Energy’s Jason Pyle
Since Sapphire Energy settled into its San Diego headquarters more than two years ago, local public appearances by CEO Jason Pyle have been about as rare as sightings of the endangered California clapper Rail. So I was eager to join the 250 or so people (and the only one with field glasses) who turned out … Continue reading “No Time for Small Bets: The Decades-Long View of Sapphire Energy’s Jason Pyle”
Patients’ Parents Upset By FDA Panel’s Rejection of Lilly/Alnara’s Cystic Fibrosis Drug
Sometimes it takes a parent’s perspective on the regulatory process for drugs in this country to understand what is really at stake for patients. Last week an FDA advisory panel shot down Eli Lilly’s (NYSE:[[ticker:LLY]]) enzyme therapy for cystic fibrosis that has deep roots in the Boston area. And two parents of children with cystic … Continue reading “Patients’ Parents Upset By FDA Panel’s Rejection of Lilly/Alnara’s Cystic Fibrosis Drug”
The Bad Board Member
Over the last 40 years the U.S. has evolved an entrepreneurial ecosystem with two of the most unlikely partners—venture capital investors and technology entrepreneurs. This alliance has led to an explosion of technology innovation, scalable startups and job creation. Tied at the hip, VC’s and entrepreneurs take large risks together. VC’s invest in startups with … Continue reading “The Bad Board Member”
SplinkMedia Platform Eyes Sponsorship Deals for Indie Artists
“Music has a way of making you an entrepreneur somehow,” says Ann Arbor, MI native Vaughan Taylor. He would know. He’s spent much of his time in the Michigan independent music scene, with his hip hop group The Athletic Mic League. Then he went the more scholarly route, getting his undergraduate degree at the University … Continue reading “SplinkMedia Platform Eyes Sponsorship Deals for Indie Artists”
The State of Seattle Biotech 2011: Xconomy’s Chat With UW Faculty & Students
Seattle biotech is coming off the single best year that I’ve seen in the 10 years I’ve been covering the local industry. Hands down, no doubt about it. The FDA approval of Dendreon’s immune-booster for prostate cancer was a watershed for the company and the field of cancer immunotherapy, and Seattle Genetics had some truly … Continue reading “The State of Seattle Biotech 2011: Xconomy’s Chat With UW Faculty & Students”
An Innovation Walk in the Snow: Can You Guess My Route?
The streets of Cambridge, MA, are wind blown and snow-ridden these days. Quiet and beautiful in their way. The breeze is up, but only laggards have not yet cleared their sidewalks. So I thought it was a perfect time to slip on my snow pants, lace up my boots, and set out for a little … Continue reading “An Innovation Walk in the Snow: Can You Guess My Route?”
Top Trends to Watch in 2011 From Experts in Infotech, Biotech, Cleantech
Innovators have to be very optimistic to believe they can create new technologies that will shake up a market. So it shouldn’t be any surprise that the high tech business leaders Xconomy writes about are looking forward to big things to come in 2011. But these people—from diverse backgrounds in high tech, life sciences, and … Continue reading “Top Trends to Watch in 2011 From Experts in Infotech, Biotech, Cleantech”
“You Can’t Run A Company Based on Hearsay”: A Rare Interview with Marvell’s Hands-On CEO, Sehat Sutardja
Marvell Technology Group (NASDAQ: [[ticker:MRVL]]) is one of Silicon Valley’s unsung success stories. The chip design firm’s low-power electronics are found inside key media and computing devices from disk drives and smartphones to network controllers and Blu-ray players. But it wasn’t until after I’d won an interview with co-founder, CEO, and de facto chief engineer … Continue reading ““You Can’t Run A Company Based on Hearsay”: A Rare Interview with Marvell’s Hands-On CEO, Sehat Sutardja”
Plexxikon, Roche Drug Extends Lives in Patients With Deadly Skin Cancer
Good news just crossed the wire from one of the Bay Area’s emerging cancer drug developers. Berkeley, CA-based Plexxikon said its experimental drug for a deadly form of skin cancer met its goal of helping keep tumors from spreading, and helping patients live longer, when compared directly to standard chemotherapy. Plexxikon, which is developing PLX4032 … Continue reading “Plexxikon, Roche Drug Extends Lives in Patients With Deadly Skin Cancer”
U-M Welcomes Startups to New Venture Accelerator on Former Pfizer Campus
“There’s not any other place I’d rather be right now,” Brandon McNaughton said standing at the door of his lab space at the University of Michigan’s Venture Accelerator, which opened officially on Tuesday. Those aren’t words most would expect to hear from a California native looking to launch his own start up. But McNaughton, the … Continue reading “U-M Welcomes Startups to New Venture Accelerator on Former Pfizer Campus”
NetApp Buys Akorri, Mascoma Nabs Deal With Valero, Sonian Gets Cash From Amazon, & More Boston-Area Deals News
We saw acquisitions, partnerships, and financings from tech and life sciences firms in New England this week. —Bloomberg News reported that Thermo Fisher Scientific (NYSE: [[ticker:TMO]]), a Waltham, MA-based provider of lab instruments and services, planned to sell two lab test units for a total of up to $1 billion. Those businesses include Athena Diagnostics … Continue reading “NetApp Buys Akorri, Mascoma Nabs Deal With Valero, Sonian Gets Cash From Amazon, & More Boston-Area Deals News”
Theraclone Strikes $632M Deal With Pfizer to Discover Antibodies for Cancer, Infections
[Correction: 6:38 pm] Theraclone Sciences just got a very big break. The Seattle-based biotech company has enticed Pfizer, the world’s largest drugmaker, to pay as much as $632 million over time for the right to co-develop antibody drugs based on Theraclone’s technology. Pfizer (NYSE: [[ticker:PFE]]) is getting access to the Theraclone technology to hunt for … Continue reading “Theraclone Strikes $632M Deal With Pfizer to Discover Antibodies for Cancer, Infections”
Ironwood, One of the Big Boys Now, Strikes Deal With Tiny Protagonist Therapeutics
Ironwood Pharmaceuticals has shown it is one of those rare biotechs that can take a new drug all the way through clinical trials, and entice investors to buy into an IPO in an economic downturn. Now the Cambridge, MA-based company is flexing its new muscle to not just discover its own drugs, but also to … Continue reading “Ironwood, One of the Big Boys Now, Strikes Deal With Tiny Protagonist Therapeutics”
New CEO Jim Crowley on BuyWithMe’s Mobile Expansion and the Future of Social Commerce
Jim Crowley wants to have it both ways. The new CEO of BuyWithMe, the online deals site, insists the company is based in both Boston and New York. (Yes, well, this is a sensitive topic to me this week.) “The company exists in two spots,” Crowley says. It has about 100 employees total—roughly two-thirds of … Continue reading “New CEO Jim Crowley on BuyWithMe’s Mobile Expansion and the Future of Social Commerce”
$120M for TripIt, $16M for Bump, A New CEO at PARC, & More Bay Area Biztech News
The Bay Area business and technology news last week was dominated by a string of acquisitions and financing deals. —TripIt, a four-year-old travel planning startup in San Francisco’s Mission District, was snapped up by Redmond, WA-based Concur in a deal that could yield as much as $120 million for TripIt’s shareholders. Azure Capital Partners, which … Continue reading “$120M for TripIt, $16M for Bump, A New CEO at PARC, & More Bay Area Biztech News”
Join Mobile Leaders from New England (and Beyond) on March 9 for Mobile Madness 2011—Getting Down to Business
We all know that there’s no turning back on the path toward mobility. Sales of mobile devices will soon eclipse sales of PCs. By 2015—and probably sooner—the number of people accessing the Web from their phones and tablet devices will surpass the number using desktops and laptops. That doesn’t mean the PC and the desktop … Continue reading “Join Mobile Leaders from New England (and Beyond) on March 9 for Mobile Madness 2011—Getting Down to Business”
Internet Deals Boost Venture Funding, ViaSat Delays Launch of Internet Satellite, Intuit Unveils Mobile Tax App, & More San Diego BizTech News
There was no break in San Diego’s tech news leading up to the Martin Luther King holiday. Even though Xconomy observed the holiday, we still managed to round up the news you’ll need to get your week started. —The early returns on venture capital investing during the fourth quarter of 2010 came in from New … Continue reading “Internet Deals Boost Venture Funding, ViaSat Delays Launch of Internet Satellite, Intuit Unveils Mobile Tax App, & More San Diego BizTech News”
Ariad Pharma Stock Up More than 25 Percent on Positive Phase III Data
Cambridge, MA-based Ariad Pharmaceuticals’ (NASDAQ:[[ticker:ARIA]]) stock is up more than 25 percent this morning. It’s to be expected; the firm is reporting today that its top cancer drug candidate, which the drug giant Merck (NYSE:[[ticker:MRK]]) is developing through a licensing deal with Ariad, is making strides in a pivotal trial for patients with soft-tissue and … Continue reading “Ariad Pharma Stock Up More than 25 Percent on Positive Phase III Data”
Sproxil Eyes VC Funding and New Customers for Its Technology for Fighting Medication Counterfeiting
Sproxil has been a bit of a darling of tech business plan competitions in the last six months. We first heard about the company, which started in Somerville, MA, and has developed technology to intercept medicine counterfeiters in developing nations, when it won IBM’s SmartCamp competition in June, taking home 12 weeks of mentoring from … Continue reading “Sproxil Eyes VC Funding and New Customers for Its Technology for Fighting Medication Counterfeiting”
What Does Biotech Really Suffer From? Information Overload, or Underload?
Cognitive dissonance is defined as “an uncomfortable feeling caused by holding conflicting ideas simultaneously.” I’m suffering from a serious case of discomfort as I try to figure out which is the bigger problem facing biotech scientists: too much information, or too little. Information overload is a serious issue in biomedical research, if not virtually all … Continue reading “What Does Biotech Really Suffer From? Information Overload, or Underload?”
Michigan Launches New $120M VC Pool to Spur Investments in State Tech Startups
The state of Michigan has launched a new $120-million venture capital pool that will invest in seed and early-stage venture capital funds that in turn invest in high-tech companies in the state. Venture firms that receive money from the Venture Michigan Fund II will be required to invest at least as much in Michigan-based companies … Continue reading “Michigan Launches New $120M VC Pool to Spur Investments in State Tech Startups”
Tilera, Lonely Survivor in Multi-Core Chip Business, Gathers $45 Million for Push Into Cloud Computing
Tilera, an MIT spinoff in San Jose, CA, that makes chips with 64 separate processors (or cores) for special applications such as networking and digital video, has raised $45 million in its fourth, and presumably last, round of venture funding. The only survivor among a small group of multi-core chipmakers founded in 2003 and 2004, … Continue reading “Tilera, Lonely Survivor in Multi-Core Chip Business, Gathers $45 Million for Push Into Cloud Computing”
Cheezburger, With Dreams of Domination in Internet Humor, Grabs $30M From Foundry Group, Madrona, Avalon, SoftBank
Cheezburger became a viral Internet success story on little more than the moxie of its founders and a shoestring budget. But now it has opted to take big-time venture capital to pursue its dream to become a much bigger, more lucrative empire for humor on the Internet. The Seattle-based company that runs a network of … Continue reading “Cheezburger, With Dreams of Domination in Internet Humor, Grabs $30M From Foundry Group, Madrona, Avalon, SoftBank”
Ekos Wins European Approval for Ultrasound Clot Buster in the Lungs
Ekos, the Bothell, WA-based maker of an ultrasound-based technology for dissolving blood clots, has won approval to market its device against life threatening clots in the lungs among patients in Europe. The Ekosonic system, which we wrote about in these pages a year ago, has won approval from regulators in the European Union as a … Continue reading “Ekos Wins European Approval for Ultrasound Clot Buster in the Lungs”
Sanford-Burnham Strikes Deal With J&J, Second Big Pharma Alliance in a Month
The Sanford-Burnham Medical Research Institute has struck its second big deal with a Big Pharma company in the past month. The San Diego-based nonprofit is announcing today it has formed a new collaboration with Ortho-McNeil-Janssen Pharmaceuticals, a unit of Johnson & Johnson (NYSE: [[ticker:JNJ]]), to discover new drugs for Alzheimer’s disease and major psychiatric disorders. … Continue reading “Sanford-Burnham Strikes Deal With J&J, Second Big Pharma Alliance in a Month”
Boston Vs. New York: Tech Startups and Investors Add New Spice to Classic Rivalry
I’ll come right out and say it: I hate New York. OK, maybe it’s worse during football and baseball season. Maybe it’s especially bad this week as the J-E-T-S and their loudmouth coach (see right) are talking trash about the Pats. Maybe I just need an excuse to wind people up. But tech investors love … Continue reading “Boston Vs. New York: Tech Startups and Investors Add New Spice to Classic Rivalry”
Seattle Genetics Gets Some Love on National TV, as Cancer Drug Nears Market
One emerging biotech company in Seattle gets a lot of national attention, and it isn’t Seattle Genetics. So while the regional drama king (Dendreon) grabbed headlines again today by raising $540 million, the lesser known folks at Seattle Genetics (NASDAQ: [[ticker:SGEN]]) took their turn in the limelight this week, in an appearance on CNBC. The … Continue reading “Seattle Genetics Gets Some Love on National TV, as Cancer Drug Nears Market”
Dogpatch Labs Cambridge Moving to New Kennel—But Will Still Be in Kendall Square
Dogpatch Labs Cambridge, the tech startup incubator run by Polaris Venture Partners, is moving out of its space in the American Twine Building on Third Street, Xconomy has learned from multiple sources. The original tip came from a Dogpatch resident who shall remain nameless. After being contacted by us, Paul Jin, founder of Plummelo and … Continue reading “Dogpatch Labs Cambridge Moving to New Kennel—But Will Still Be in Kendall Square”