The marathon biotech schmoozefest known as the JP Morgan Healthcare Conference is officially over, and I’ll say two things first off. Wow, it was fun. And wow, I’m glad to be home. Xconomy’s bookkeeper will surely get a chuckle out of what my Amex card says about my activity this week in San Francisco’s Union … Continue reading “Scenes from JP Morgan 2011: The Photo Gallery”
Category: National
Dendreon Rakes in $540M to Seize Opportunity for Provenge in U.S., Europe
Seattle-based Dendreon (NASDAQ: [[ticker:DNDN]]) said today it has pulled in $540 million in new capital, through a debt offering that can be converted into stock. Dendreon, the maker of an immune-boosting therapy for prostate cancer, will have to pay back the debt, plus about 2.9 percent interest, by January 2016, although the debt can be … Continue reading “Dendreon Rakes in $540M to Seize Opportunity for Provenge in U.S., Europe”
One Big Cancer Story from 2010, and Four Trends to Watch in 2011
Top innovative news from 2010: • Amgen’s 147 trial was the first study to ever show a delay in the onset of bone metastases in men with prostate cancer, for the denosumab (Xgeva) investigational clinical program. This result showed that you can prevent or delay skeletal metastases by making the bone microenvironment an inhospitable place … Continue reading “One Big Cancer Story from 2010, and Four Trends to Watch in 2011”
The Instapaper Effect-Or, The Dilemma of Long-Form Writing on the Web
goat-choker (n.) An article of inordinate and suffocating length, produced to gratify the vanity of the author and the aspirations of the publication. (John McIntyre) I regularly write articles that, by Web standards, are obscenely long. My November article on ShopWell was 6,500 words long, and my series last week on Google’s mobile ambitions ran … Continue reading “The Instapaper Effect-Or, The Dilemma of Long-Form Writing on the Web”
From Bordeaux to San Diego: Portable Genomics on the Move
Fresh on the heels of advances in genome sequencing announced by Illumina and Complete Genomics earlier this week (and by Life Technologies last month), a French scientist tells me he is moving his startup, Portable Genomics, to San Diego. Patrick Merel, a molecular biologist in Bordeaux, tells me by e-mail he has applied for an … Continue reading “From Bordeaux to San Diego: Portable Genomics on the Move”
TripIt’s Short Trip to a $120M Exit: A Travelogue from CEO Gregg Brockway
San Francisco-based TripIt has some very happy investors right now. As I wrote yesterday, Redmond, WA-based travel management software company Concur (NASDAQ: [[ticker:CNQR]]) has agreed to buy TripIt for $82 million in cash and stock plus up to $38 million in contingent payments between now and 2013; the startup had raised less than $13 million … Continue reading “TripIt’s Short Trip to a $120M Exit: A Travelogue from CEO Gregg Brockway”
ReCellular Chief Sees Future for Yesterday’s Electronics
Steve Manning saw some of the latest consumer electronics at the 2011 International CES confab in Las Vegas this month, and the CEO of Dexter, MI-based ReCellular was reminded how it takes before Americans who buy such nifty gadgets will want to trade in for new stuff. About 15 months. “It was amazing, great neat … Continue reading “ReCellular Chief Sees Future for Yesterday’s Electronics”
Five Innovations to Look For in Algae Biofuels
Here are my top five innovations to look for in algae-based biofuels in the New Year: —The first synthetic algal genome. —The first significant scale-up of algae biofuel production. —The first clinical trial of an algae-based therapeutic. —The introduction of several new algae-based nutraceuticals. —Oil to top $120 a barrel, and with that a much … Continue reading “Five Innovations to Look For in Algae Biofuels”
Rib-X Wrappes Up $20M, Oxford Closes $66M on Sixth Fund, Ocular Adds $6M, & More Boston-Area Life Sciences News
The big Nor’easter this week didn’t get in the way of big news from New England’s life sciences firms. —Civitas Therapeutics, a startup operating out of Alkermes’ (NASDAQ: [[ticker:ALKS]]) leased facility in Chelsea, MA, is working to commercialize inhaled drug delivery from Waltham, MA-based Alkermes. The firm has about $20 million in first-round funding to … Continue reading “Rib-X Wrappes Up $20M, Oxford Closes $66M on Sixth Fund, Ocular Adds $6M, & More Boston-Area Life Sciences News”
Travel Startup TripIt Acquired by Seattle’s Concur for As Much As $120 Million; Handsome Exit for Azure Capital
Redmond, WA-based Concur (NASDAQ: [[ticker:CNQR]]), a specialist in software that helps big companies control travel expenses, revealed today that it’s acquiring TripIt, a four-year-old San Francisco startup providing a virtual travel-assistant service for business travelers. TripIt’s free service allows travelers to create master itineraries that they can access from the Web or their mobile phones … Continue reading “Travel Startup TripIt Acquired by Seattle’s Concur for As Much As $120 Million; Handsome Exit for Azure Capital”
San Diego’s Quest to Fight the “Diabesity” Epidemic, Coming Jan. 27
California may have more than its share of fit and healthy people when you look at the public health stats, but it’s also ground zero for the fight against the closely related lifestyle epidemics that threaten to bankrupt our healthcare system—diabetes and obesity. Many of the most innovative ideas for fighting these conditions are emerging … Continue reading “San Diego’s Quest to Fight the “Diabesity” Epidemic, Coming Jan. 27″
Corensic, Concur, and Teradici: A Mini Tech Deals Roundup
Lots going on in the Northwest tech scene today (though not as much snow as in New England, let me tell you). Let’s get right to it: —Concur (NASDAQ: [[ticker:CNCR]]), the Redmond, WA-based travel and expense management software company, said today it has agreed to buy TripIt, a mobile travel firm based in San Francisco, … Continue reading “Corensic, Concur, and Teradici: A Mini Tech Deals Roundup”
New Models for Investing in Innovation
In November 2010 as part of my interview about entrepreneurs and Customer Development, the Shoshin Project also asked me about my thoughts on investing in innovation. They wanted some words of wisdom for their investment bank and hedge fund customers. This falls into the “Asking someone who was handy versus knowledgeable” category. (I was an … Continue reading “New Models for Investing in Innovation”
Valero Energy Takes Key Role in Mascoma’s Michigan Ethanol Project
Lebanon, NH-based Mascoma has found a key piece of funding for a commercial-scale ethanol plant in northern Michigan. The oil firm Valero Energy has inked a non-binding agreement to invest up to $50 million to fund construction of a refinery that would use wood-based materials to make ethanol. Frontier Renewable Resources, a joint venture of … Continue reading “Valero Energy Takes Key Role in Mascoma’s Michigan Ethanol Project”
Illumina Launches Desktop Gene Sequencer, Avalon Raises $200M for Ninth Fund, Quidel Offering Raises Capital for New Strategy, & More San Diego Life Sciences News
Many life sciences executives have been making announcements timed to the annual J.P. Morgan Healthcare Conference in San Francisco this week, so we have plenty of biotech news to round up. —A race among genetic device companies is dramatically lowering costs and accelerating the speed of sequencing complete human genomes. San Diego-based Illumina (NASDAQ: [[ticker:ILMN]]) … Continue reading “Illumina Launches Desktop Gene Sequencer, Avalon Raises $200M for Ninth Fund, Quidel Offering Raises Capital for New Strategy, & More San Diego Life Sciences News”
Biotech Startup Vet Daphne Zohar on PureTech, Follica, and Doing Rather Than Talking
If you’re a biotech entrepreneur, this might be the one week of the year when you hope to have the most interesting things to say about what you’re doing professionally. That’s because this is the week of the JP Morgan Health Care Conference in San Francisco, arguably the industry’s most important investor meeting. I knew … Continue reading “Biotech Startup Vet Daphne Zohar on PureTech, Follica, and Doing Rather Than Talking”
Five Predictions for Technology in 2011
Here are a few of my predictions for how 2011 will be remembered: 1. Passive television viewing starts a long slow slide to oblivion. Despite Google’s planned delay of its IPTV launch, 2011 will be the year where Internet Television hits the consumer market and a fundamental shift begins from passive to interactive TV viewing. … Continue reading “Five Predictions for Technology in 2011”
Dendreon’s European Plan, Williams Heads East, Allozyne Passes Clinical Trial, & More Seattle-Area Life Sciences News
Biotech leaders from around the country gathered this week at San Francisco’s Union Square, and it sure seemed like folks had a little more spring in their step than they did a year ago at this same get-together. We’ll just have to see whether the hope translates into good actions in the year ahead. —Seattle-based … Continue reading “Dendreon’s European Plan, Williams Heads East, Allozyne Passes Clinical Trial, & More Seattle-Area Life Sciences News”
U-M Grad Students Add Startup Company ReGenerate to School Duties
It began in 2009 as a project among University of Michigan graduate students to find alternative uses for food waste. Now it’s a company called ReGenerate Solutions, which might be one of the hottest new startups in Southeast Michigan. ReGenerate took the top prize for the student track of December’s Accelerate Michigan Innovation Competition—which was … Continue reading “U-M Grad Students Add Startup Company ReGenerate to School Duties”
December Surge of Internet Deals Carries Venture Capital to Two-Year High
A wave of Internet deals helped venture funding during the fourth quarter of 2010 reach a two-year high-water mark in both the number of deals and capital invested, according to CB Insights, a New York information and data services company tracking the innovation economy. Venture capital firms poured a total of more than $6.5 billion … Continue reading “December Surge of Internet Deals Carries Venture Capital to Two-Year High”
NetApp, Novell, and Greylock Top List of Boston-San Francisco Tech Tidbits
What do Boston and the San Francisco Bay Area have in common today? Certainly not the weather. Tech news is a different story, though. We spotted a trio of headlines involving firms with a strong presence in both regions: —Sunnyvale, CA-based storage and data management firm NetApp (NASDAQ: [[ticker:NTAP]]) announced it is buying Akorri Networks of … Continue reading “NetApp, Novell, and Greylock Top List of Boston-San Francisco Tech Tidbits”
Microsoft’s Gus Weber Leaves to Become Entrepreneur In Residence at Dogpatch Labs
From one Kendall Square institution to another—that’s my take on this news, which is reverberating throughout the local startup community. Gus Weber, the business development and community relations manager at Microsoft’s New England Research & Development Center (N.E.R.D.), is leaving Microsoft this week to join Dogpatch Labs in Cambridge (run by Polaris Venture Partners) as … Continue reading “Microsoft’s Gus Weber Leaves to Become Entrepreneur In Residence at Dogpatch Labs”
Bump, With a Fresh $16 Million, Explores New Ways to Connect Mobile-Device Users—Q&A with David Lieb and Jake Mintz
As we reported Monday night, Mountain View, CA-based Bump Technologies got a big bump itself this week, in the form of a $16 million Series B funding round led by new investor Andreessen Horowitz. Bump is famous for building iOS and Android apps that let mobile-device users share files by literally bumping their devices against … Continue reading “Bump, With a Fresh $16 Million, Explores New Ways to Connect Mobile-Device Users—Q&A with David Lieb and Jake Mintz”
615 Human Genomes? Another Cheap, Fast Sequencing Machine? Complete Genomics, Illumina Steal Show at Healthcare Meeting
Most of the major life sciences reporters in the U.S. are gathered this week in San Francisco, so you know what that means—most of us missed the big story. While pretty much everyone here at the JP Morgan Healthcare Conference—me included—was listening and learning about the latest hot new drug or device, the real news … Continue reading “615 Human Genomes? Another Cheap, Fast Sequencing Machine? Complete Genomics, Illumina Steal Show at Healthcare Meeting”
$12.7M Blows in for Wind Power Holdings, Epizyme Forges Alliance with GlaxoSmithKline, & Many More Boston-Area Deals
Dealmaking activity in New England’s tech and life sciences sectors continued at a blizzardy pace this week. Hold on to your hat… —Marlborough, MA-based biofuels developer Qteros raised $22 million from new and existing investors in the first tranche of a Series C financing. —IT services provider MindShift Technologies of Waltham, MA, acquired Alpheon, a … Continue reading “$12.7M Blows in for Wind Power Holdings, Epizyme Forges Alliance with GlaxoSmithKline, & Many More Boston-Area Deals”
Highland’s Graham Gardner Takes New Shot at Health IT Startup with Kyruus
Boston has a new health IT startup in its midst. Kyruus has quietly formed in the hub and, according to its website, brings “transparency, credibility, and efficiency to physician-industry engagements.” The startup’s co-founders include Graham Gardner, a principal at Highland Capital Partners in Lexington, MA, and Julie Yoo, an early employee of one of Gardner’s … Continue reading “Highland’s Graham Gardner Takes New Shot at Health IT Startup with Kyruus”
For Arbor Photonics, a Myriad of Reasons Not to Flee to the Coasts
When Phillip Amaya, CEO of Arbor Photonics, was first brought in to head up the advanced laser processing company, he said he had every intention of locating the start up in California. But Michigan’s aggressive approach to home-growing businesses and keeping them in the state changed Amaya’s mind. “The state came through to help us … Continue reading “For Arbor Photonics, a Myriad of Reasons Not to Flee to the Coasts”
Top Things to Look for in Wireless in 2011
1) 4G. 4G services will become available on a near nationwide basis in 2011. At its best (and what is called “4G” gets murkier every day), 4G offers a true mobile broadband experience. In order to be successful, 4G operators must have a comprehensive go-to-market strategy, with compelling devices, exciting and differentiated applications, and innovative … Continue reading “Top Things to Look for in Wireless in 2011”
NextWave Pharma Snaps Up $45M
NextWave Pharmaceuticals has raised some big bucks to support making new drugs for cardiovascular disease and neurological conditions. The Cupertino, CA-based drug developer said today it has raised $45 million in a Series C financing. The investment was co-led by Panorama Capital and Bay City Capital, and included Kearny Venture Partners, Aisling Capital, Fidelity Biosciences, … Continue reading “NextWave Pharma Snaps Up $45M”
Evergreen Solar to Shut Down Massachusetts Plant, Lay Off 800 Workers
Bad news for the Massachusetts cleantech industry—and a lot of factory workers. Marlboro, MA-based Evergreen Solar (NASDAQ: [[ticker:ESLR]]), a developer and manufacturer of solar panels, said today it will shut down its manufacturing plant in Devens, MA, and lay off 800 workers there by the end of the first quarter of 2011. The plant represented … Continue reading “Evergreen Solar to Shut Down Massachusetts Plant, Lay Off 800 Workers”
Start Spreading the (Innovation) News With Xconomy in New York
I’ve got Frank Sinatra on endless mental replay today and I’ll tell you why: I’m looking for a stellar journalist to start spreading the news about innovation in New York, New York. (Look, nobody’s groaning louder than me about that one. Let’s move on…) My Xconomy colleagues and I are fascinated by the stories emerging … Continue reading “Start Spreading the (Innovation) News With Xconomy in New York”
Service-Now CEO Fred Luddy Sees a Clear Path to $1 Billion in Annual Revenue
Fred Luddy has been in the technology industry since 1973, but as a longtime programmer for mainframe computers and enterprise systems, he says he was still surprised by the advent of Web-based computing. “I didn’t see this whole notion of software over the Internet, of on-demand, software-as-a-service in the cloud,” says Luddy, who now describes … Continue reading “Service-Now CEO Fred Luddy Sees a Clear Path to $1 Billion in Annual Revenue”
U.S. Wages Reset to Early 2008 Levels: Boston and Seattle Fit National Trend; Detroit, San Diego, San Francisco Fare Worse
The average salary for U.S. company workers rose throughout 2007 and 2008, fell during 2009, and held fairly steady in 2010. By the fourth quarter of last year, average earnings had leveled off to approximately what they were at the start of 2008. But there were some variations between different parts of the country. That’s … Continue reading “U.S. Wages Reset to Early 2008 Levels: Boston and Seattle Fit National Trend; Detroit, San Diego, San Francisco Fare Worse”
Silicon Valley Investors Put, Like, A Billion Dollars Into Groupon, & More Bay Area Deals News
The funding announcements are flying so fast and furiously this week that I’ve decided to round them up into a single article. —In a press released headlined “Groupon Raises, Like, A Billion Dollars,” the Chicago-based daily deals site announced yesterday that it has collected $950 million in new equity-based financing from a syndicate including prominent … Continue reading “Silicon Valley Investors Put, Like, A Billion Dollars Into Groupon, & More Bay Area Deals News”
Rib-X Raises Another $20M, Led by Warburg Pincus, to Develop Late Stage Antibiotics
New Haven, CT-based Rib-X Pharmaceuticals has rounded up another sizable investment to carry out its antibiotic R&D. The company said today it has raised $20 million in a financing led by Warburg Pincus, the giant private equity firm. Rib-X didn’t say in its statement who else invested, or whether it represents debt or equity financing. … Continue reading “Rib-X Raises Another $20M, Led by Warburg Pincus, to Develop Late Stage Antibiotics”
Bernstein’s Retirement Brings Changing of the Guard at PARC; Q&A with Incoming CEO Steve Hoover
The storied Palo Alto Research Center, birthplace of such fundamental information-technology advances as the personal computer, Ethernet, and the laser printer, has a new leader. The Xerox (NYSE: [[ticker:XRX]]) subsidiary announced today that Steve Hoover, formerly vice president of Xerox’s software and electronics development group, will take the place of current CEO Mark Bernstein, who … Continue reading “Bernstein’s Retirement Brings Changing of the Guard at PARC; Q&A with Incoming CEO Steve Hoover”
As Auto Industry Goes Electric, Michigan Startup Wants to Dot Nation with PEP Stations
As if to place an exclamation point on the electrification of the auto industry, the Chevy Volt was named the North American Car of the Year yesterday at the 2011 North American International Auto Show. But many here in Detroit are wondering when the missing pieces to this fast-approaching Auto Industry 2.0 are going to … Continue reading “As Auto Industry Goes Electric, Michigan Startup Wants to Dot Nation with PEP Stations”
Trend Spotting: The Top 9 Rise & Falls We See in the Year Ahead
[Editor’s Note: This post was co-authored with Josh Wolfe of Lux Capital] 1. The Rise of Celebrity Science Nations, cultures, economies all get what they celebrate. Celebrate celebrities and we’ll have another generation of over-consumptive, over-indebted, overweight, underemployed citizenry. But celebrate scientists: thinkers, doers, achievers, explorers, inventors, creators and we stand a shot at restoring … Continue reading “Trend Spotting: The Top 9 Rise & Falls We See in the Year Ahead”
Carbonite, With IPO On the Horizon, Puts New Focus on Consumers and Small Businesses
For years, Carbonite has been one of the compelling stories of the Boston-area tech scene. That story is about to get more compelling in 2011. The online data-backup company, which launched its consumer service in 2006, has talked openly about its plans to file for an initial public offering later this year. In an in-depth … Continue reading “Carbonite, With IPO On the Horizon, Puts New Focus on Consumers and Small Businesses”
Bayer Nuzzles Up Even Closer to UCSF, Strikes 10-Year Master R&D Agreement
Bayer said last year it was moving into San Francisco’s Mission Bay district to be close to the big biology brains at UCSF, and now the German pharmaceutical giant is taking another step to weave itself into the local life sciences cluster by striking a 10-year master R&D agreement with the university. The agreement establishes … Continue reading “Bayer Nuzzles Up Even Closer to UCSF, Strikes 10-Year Master R&D Agreement”
Allurent, Previously Reported Closed, Finds New Life at Jenzabar
This is a startup survival story for the books. Allurent, which the tech media reported as defunct last month, has gotten new life through an acquisition by Boston-based Jenzabar, a maker of higher education enterprise software. What’s more, Allurent, which develops interactive widgets for enhancing e-commerce storefronts, never stopped doing business, says Jenzabar CEO Robert … Continue reading “Allurent, Previously Reported Closed, Finds New Life at Jenzabar”
Qualcomm Acquires Atheros, Sony Introduces Its Google TV, Memjet Spins Out Partnerships, & More San Diego BizTech News
Last week’s Consumer Electronics Show dominated San Diego’s tech news last week. We have the highlights from the two dozen San Diego tech companies that attended the annual conference, along with the rest of the local biztech news. —In one more sign that Wi-Fi is becoming increasingly important to the future of wireless network infrastructure, … Continue reading “Qualcomm Acquires Atheros, Sony Introduces Its Google TV, Memjet Spins Out Partnerships, & More San Diego BizTech News”
Active Network Launches New ‘Schwaggle’ Program in Bay Area
San Diego’s Active Network, which provides Web-based registration services for marathons, recreation leagues, and other activities, says it is launching a “deal-of-the-day” program tomorrow in the San Francisco Bay Area, with other regions to follow later this year. Active.com says the first deals to be offered this week through its new “Schwaggle” service include a … Continue reading “Active Network Launches New ‘Schwaggle’ Program in Bay Area”
Google Makes Smartphones Smarter, Salesforce.com Continues Acquisition Binge, & More Bay Area BizTech News
Xconomy San Francisco embarked on 2011 last week with a series of stories going behind the scenes with three key researchers at Google. To wit: —In recent speeches, Google CEO Eric Schmidt has called the modern smartphone a “supercomputer in your pocket” and shared his vision of an “age of augmented humanity” when mobile devices … Continue reading “Google Makes Smartphones Smarter, Salesforce.com Continues Acquisition Binge, & More Bay Area BizTech News”
The Cover-Up Culture
In a startup “Good news needs to travel fast, but bad news needs to travel faster.” There’s something about the combination of human nature (rationalization and self deception) and large hierarchical organizations (corporations, military, government, etc.) that actively conspire to hide failure and errors. Institutional cover-ups are so ingrained that we take them for granted. … Continue reading “The Cover-Up Culture”
Wind Power Holdings, With Big Michigan Footprint, Raises $12.7M
Barre, VT-based Wind Power Holdings, the parent company of wind turbine developer Northern Power Systems, has wrapped up a $12.7 million round of equity-based funding, according to a document filed with the SEC. The filing notes that the money comes from 33 investors, including two from outside of the U.S. Northern Power, which dates back … Continue reading “Wind Power Holdings, With Big Michigan Footprint, Raises $12.7M”
2010 Startup Moves from Boston to San Francisco Offer Insights to the Perennial Coast vs. Coast Debate
The debate over the merits of Boston and the San Francisco Bay Area as startup hubs isn’t a new one, but looking back over 2010 has given us new food for thought on the subject. At least four Boston-area startups packed their bags for Silicon Valley, working on technology related to errand exchanging, used clothing … Continue reading “2010 Startup Moves from Boston to San Francisco Offer Insights to the Perennial Coast vs. Coast Debate”
Surprises of 2010 and What to Look for in 2011
Biggest Surprises: How risk adverse most VC’s are. I was expecting “bigger thinking” and more insight into energy and energy efficiency issues. How little debate there is in the media regarding global warming and the cause/effects: many automatically believe that the earth is getting warmer and humans are the cause, even though measured data strongly … Continue reading “Surprises of 2010 and What to Look for in 2011”
Epizyme Nabs $650M Deal With Glaxo To Hunt for Epigenetic Drugs
Cambridge, MA-based Epizyme has found its first big partner to help support its work in hunting for new drugs based on the emerging science around epigenetics. Epizyme said today it has formed a new alliance with pharmaceutical giant GlaxoSmithKline. The deal calls for the big company to pay a $20 million upfront fee, plus research … Continue reading “Epizyme Nabs $650M Deal With Glaxo To Hunt for Epigenetic Drugs”
Alkermes Finds New Home For Inhaled Drug-Delivery Tech with Civitas Spinout
Alkermes’s leased facility in Chelsea, MA has come back to life. Civitas Therapeutics, a spinout of Waltham, MA-based Alkermes (NASDAQ:[[ticker:ALKS]]), has taken up residency there and renewed efforts to commercialize inhaled drug-delivery technology from Alkermes. The facility in Chelsea was set up years ago to develop and produce inhaled insulin under a pact with Eli … Continue reading “Alkermes Finds New Home For Inhaled Drug-Delivery Tech with Civitas Spinout”