[Updated: 4:05 pm] The University of Washington has filed a federal lawsuit against General Electric, in which the university is accusing the industrial giant of infringing on patented technology that is helping GE make major strides in the market for next-generation diagnostic ultrasound machines. UW filed its complaint against GE (NYSE: [[ticker:GE]]) earlier this week … Continue reading “UW Sues GE, Accusing Industrial Giant of Infringing Patent on Ultrasound Technology”
Category: National
Glaxo Ends Resveratrol Drug Study
London-based GlaxoSmithKline has terminated a mid-stage clinical trial of SRT501 in patients with advanced multiple myeloma, the company said in a statement e-mailed to Xconomy today. The firm acquired the drug, a formulation of resveratrol, in its $720 million buyout of Cambridge, MA-based Sirtris Pharmaceuticals in 2008. Sirtris has captured wide media attention because of … Continue reading “Glaxo Ends Resveratrol Drug Study”
Energy Grants go to San Diego’s On-Ramp Wireless, “Smart Grid” Companies in Washington and New England
San Diego’s On-Ramp Wireless says it is among five companies to get more than $19 million in federal grants to develop innovations that are expected to make the nation’s power grid cleaner and more efficient, reliable, resilient, and responsive. On-Ramp Wireless, which is among the companies presenting at Xconomy’s 5×5 event in Boston next Wednesday, … Continue reading “Energy Grants go to San Diego’s On-Ramp Wireless, “Smart Grid” Companies in Washington and New England”
Bob Metcalfe Joins 5X5 Lineup to Deliver Closing Commentary—and Say Goodbye to Boston
Xconomy is extremely pleased to announce that pundit, inventor, venture capital investor, and future professor Bob Metcalfe has joined the keynote lineup for 5X5: Five Cities, Five Big Tech Ideas, our forum in downtown Boston next Wednesday afternoon. Metcalfe, inventor of the Ethernet and (for just a few more weeks, read on) a general partner … Continue reading “Bob Metcalfe Joins 5X5 Lineup to Deliver Closing Commentary—and Say Goodbye to Boston”
Pearl Therapeutics, Fresh Off Big VC Round, Tops $3B Lung Drug in Head-to-Head Trial
Pearl Therapeutics bagged a whopping $69 million venture round last month, and now it’s pretty clear why. The Redwood City, CA-based biotech company is reporting clinical trial results today that show its inhalable drug for chronic obstructive pulmonary disease worked better than standard Tiotropium (Spiriva), a $3 billion annual seller for Pfizer and Boehringer Ingelheim. … Continue reading “Pearl Therapeutics, Fresh Off Big VC Round, Tops $3B Lung Drug in Head-to-Head Trial”
Mobile Sign Language Startup Not Tone-Deaf to Ann Arbor Area’s Promise
When Mobile Sign Language Systems won an Ann Arbor Spark business plan competition last summer, and as a result got incubator space and other services, the University of Michigan-spawned startup was able to survive a crucial year of development. “I don’t think that our business would have been moving in the direction it’s going if … Continue reading “Mobile Sign Language Startup Not Tone-Deaf to Ann Arbor Area’s Promise”
Ember, Rising to Profitability, Wants to Network the Smart Grid—and Home Security Systems
Ember is one of those companies that defies a quick explanation. For starters, it has been around for nine years. And if all goes well, 2010 will be its first profitable one. It has been a long climb for the Boston-based firm, which makes wireless networking technologies that help consumers and utility companies manage home … Continue reading “Ember, Rising to Profitability, Wants to Network the Smart Grid—and Home Security Systems”
Accelerator Reaches Out to East Coast to Find Latest Startup, Acylin Therapeutics
Accelerator, Seattle’s best known hotspot for hatching biotech startups, has found its latest idea for a new company on the East Coast. Most of Accelerator’s investments of the past have come from its West Coast network, but the youngest pup in the litter at the Seattle-based startup machine, Acylin Therapeutics, is based on the vision … Continue reading “Accelerator Reaches Out to East Coast to Find Latest Startup, Acylin Therapeutics”
Histogen Raises $10M for Regenerative Hair Growth, Other Treatments
San Diego’s Histogen, which saw a group of angel investors pull out of a deal in early 2009, is announcing today that it successfully closed a $10 million Series A round and already has opened a Series B venture round with commitments from some investors. The life sciences company, which is developing regenerative medicine treatments … Continue reading “Histogen Raises $10M for Regenerative Hair Growth, Other Treatments”
Cozi Inks Deals with AOL, Intel, to Reach More Families Trying to Manage Chaos of Daily Life
Big partnerships are often a key to success for startups. Especially one that plays in a crowded consumer tech sector like Cozi, which makes software for helping busy families manage their daily schedules, chores, and activities. The Seattle-based company is announcing some new deals today, ones that could have a substantial impact on its business. … Continue reading “Cozi Inks Deals with AOL, Intel, to Reach More Families Trying to Manage Chaos of Daily Life”
Heartland Reaps $20M, CloudBees Gathers $4M, Adimab Acquires $4M, & More Boston-Area Deals News
A number of New England tech and life sciences companies had deals to be thankful for this week. —CloudBees, a startup soon to be headquartered in Boston, raised $4 million in a Series A financing round led by Matrix Partners. Individual investors Marc Fleury and Bob Bickel also backed CloudBees, which is developing a cloud-based … Continue reading “Heartland Reaps $20M, CloudBees Gathers $4M, Adimab Acquires $4M, & More Boston-Area Deals News”
Biotech’s Back in Seattle: Photo Gallery
Thanks to everyone who helped make “Biotech’s Back in Seattle,” the latest production of Xconomy Seattle, such a smash hit. We sold out this puppy, packing the house at PATH last night with more than 200 people for an evening of insightful conversation and lively networking. The featured speakers were a couple of Seattle’s top … Continue reading “Biotech’s Back in Seattle: Photo Gallery”
Adimab Finds $4M More from Google and Other Investors
Lebanon, NH-based Adimab, which is developing a yeast-based human antibody discovery technology, has raised $4 million in a Series E funding round, CEO and co-founder Tillman Gerngross confirmed today. The financing was first revealed in a filing on the SEC website yesterday. Adimab raised the new funding round at a pre-money valuation of $520 million, … Continue reading “Adimab Finds $4M More from Google and Other Investors”
See You at Tonight’s Michael Moritz Chat
The big day is here—it’s Xconomy’s first event in San Francisco, and we couldn’t ask for a better headliner than Sequoia Capital partner Michael Moritz, who’s been called the most powerful venture capitalist in Silicon Valley. The fun starts at 5:00 pm with an hour of networking at Kicklabs at 250 Brannan Street in San Francisco’s … Continue reading “See You at Tonight’s Michael Moritz Chat”
JMI Equity, Based in San Diego & Baltimore, Raises $875M for Seventh Fund
JMI Equity, the private equity firm that bears the initials of software magnate John Moores (Inc.), says it has closed its seventh investment fund after raising a total of $875 million. In a statement today, the firm says with the closing of JMI Equity VII, it has raised over $2.1 billion since it was founded … Continue reading “JMI Equity, Based in San Diego & Baltimore, Raises $875M for Seventh Fund”
With a Lifeline to London, Blinkx Builds the World’s Largest Video Search Index
Celebrity obsession isn’t limited to Hollywood. Here in Silicon Valley, we’ve got our own versions of Brangelina and Justin Timberlake—they just go by names like Google, Apple, Facebook, and Twitter. Part of Xconomy’s mission, though, is to look beyond the headlines for firms that are innovating in unusual ways. So it’s been a pleasure to … Continue reading “With a Lifeline to London, Blinkx Builds the World’s Largest Video Search Index”
Project 11’s Katie Rae Named Director of TechStars Boston
TechStars, the seed-stage investment fund and startup mentoring program, announced today it has selected tech executive and startup personality Katie Rae as the new managing director for its Boston installment. She’ll take over for former managing director Shawn Broderick, who announced earlier this month that he would be leaving his role to focus more closely … Continue reading “Project 11’s Katie Rae Named Director of TechStars Boston”
AisleBuyer, Growing Fast, Looks to Own Mobile Checkout With New Android App
Consumers may love the convenience of self-checkout stands while shopping, but getting those machines into stores carries a hefty price tag for retailers. Boston-based startup AisleBuyer is looking to bring that same convenience to customers without the installment cost to retailers, with its iPhone and Android mobile app, the latter of which went live today. … Continue reading “AisleBuyer, Growing Fast, Looks to Own Mobile Checkout With New Android App”
Selventa Changes Name from Genstruct, Reveals New Efforts to Help Pharma Match Patients with Right Drugs
The complex field of systems biology might be in need of some clarification. Cambridge, MA-based Selventa has been renamed from its former moniker Genstruct as part of an effort to clarify to pharmaceutical companies and others in the life sciences industry how the firm uses computational methods to help its customers match patients with the … Continue reading “Selventa Changes Name from Genstruct, Reveals New Efforts to Help Pharma Match Patients with Right Drugs”
Optimer Seeks Quick Green Light From FDA for Antibiotic Against Deadly Bug
San Diego-based Optimer Pharmaceuticals has spent more than $200 million and a dozen years of effort to get to the point where it can ask the FDA to clear its first product for sale on the U.S. market. And that’s the position Optimer finds itself in now. Optimer (NASDAQ: [[ticker:OPTR]]) is announcing today that it … Continue reading “Optimer Seeks Quick Green Light From FDA for Antibiotic Against Deadly Bug”
Bill Warner on Building Your Startup From Your Heart, Not Your Head—A Preview of His Keynote at Xconomy’s 5X5 Forum
Bill Warner is one of those good guy entrepreneurs. Yeah, he has a track record of business success, founding Avid and Wildfire, among other companies, and selling them for lots of money. But more than that, he gives back to the entrepreneurial community—both as an angel investor and, more importantly, as a mentor to those … Continue reading “Bill Warner on Building Your Startup From Your Heart, Not Your Head—A Preview of His Keynote at Xconomy’s 5X5 Forum”
How To Keep Academic/Big Pharma Alliances from Going off the Rails
The Dana-Farber Cancer Institute in Boston made headlines earlier this month after siding with Novartis in a brewing legal battle with a Dana-Farber spinout, Gatekeeper Pharmaceuticals. The disagreement stems from both companies claiming they are the rightful licensees of certain intellectual property (IP) created by Dana-Farber researchers. The IP, originally committed to Gatekeeper via an … Continue reading “How To Keep Academic/Big Pharma Alliances from Going off the Rails”
NanoBio Nabs $6M from Gates Foundation for Nasal Spray Vaccine
NanoBio, the Ann Arbor, MI-based developer of new vaccine formulations made to be more potent and easy to deliver, has snapped up a $6 million grant from the Seattle-based Bill & Melinda Gates Foundation. The money will help fund development of the first nasal spray vaccine against one of the most common bugs that causes … Continue reading “NanoBio Nabs $6M from Gates Foundation for Nasal Spray Vaccine”
Heartland Robotics Raises $20M More to Develop Helper Robots for Manufacturing
Make no mistake—this is Boston’s big bet on the future of robotics. Cambridge, MA-based Heartland Robotics is announcing today it has raised $20 million in Series B financing led by new investor Highland Capital Partners. New investor Sigma Partners also participated, as did existing investors Charles River Ventures and Bezos Expeditions. All in all, it’s … Continue reading “Heartland Robotics Raises $20M More to Develop Helper Robots for Manufacturing”
It’s Complicated: Survey Reveals Rough Patches in FDA’s Working Relationship With Life Sciences Industry
The life sciences industry says its working relationship with the U.S. Food and Drug Administration has improved, particularly for the early stages of the agency’s product review process. But a survey of 50 life science companies, primarily in California and Massachusetts, also pointed to rising concerns about the latter part of the product review process, … Continue reading “It’s Complicated: Survey Reveals Rough Patches in FDA’s Working Relationship With Life Sciences Industry”
See You Tonight at “Biotech’s Back in Seattle”
I’m getting ready for one of Xconomy’s biggest events of the year—“Biotech’s Back in Seattle“—which will be held tonight at PATH’s new headquarters in South Lake Union. More than 200 people have snapped up tickets so far, and only six seats are left at the time I’m writing this. So if you missed the last … Continue reading “See You Tonight at “Biotech’s Back in Seattle””
Hope to See You Tomorrow at Xconomy’s Michael Moritz Chat—Only a Handful of Seats Left
We’re nearly out of tickets to “Michael Moritz Unplugged,” our exclusive on-stage conversation Tuesday night with the famed Sequoia Capital partner. Register today if you plan to attend, as we can’t guarantee we’ll have any room for walk-ins at the event, which will be held from 5:00 pm to 7:00 pm at San Francisco’s Kicklabs … Continue reading “Hope to See You Tomorrow at Xconomy’s Michael Moritz Chat—Only a Handful of Seats Left”
Socialwise Raises $3.5M for Teen Prepaid Card and ‘Bill My Parents’ Payment Solution
San Diego-based Socialwise, which has developed payment solutions that target teens and their parents, has raised nearly $3.5 million of a planned $4 million offering, according to a recent regulatory filing. As I reported a couple of years ago, former Gateway computer executive Jim Collas founded Socialwise, which trades on the Nasdaq over-the-counter market as … Continue reading “Socialwise Raises $3.5M for Teen Prepaid Card and ‘Bill My Parents’ Payment Solution”
Ruckus Solves 3G Headaches, StumbleUpon Vies with Facebook, Woz Misspeaks, & More Bay Area Biztech News
The long Thanksgiving weekend put an early punctuation mark on last week’s technology and business news in the Bay Area. Here’s a glance back: —StumbleUpon, the San Francisco “discovery engine” company founded in 2002, now rivals Facebook in the amount of social-media traffic it sends to websites. I profiled the company, which has had a … Continue reading “Ruckus Solves 3G Headaches, StumbleUpon Vies with Facebook, Woz Misspeaks, & More Bay Area Biztech News”
City Uses Sewage Gas for Renewable Energy, Peregrine Semiconductor Files for IPO, Cooley Q3 Venture Report, & More San Diego BizTech News
San Diego could be the first city in the country to use sewage gas in advanced fuel cells to generate electricity. We’ve got that and the rest of San Diego’s tech news roundup, which was abbreviated last week by the Thanksgiving holiday. —The City of San Diego is set to begin construction next month on … Continue reading “City Uses Sewage Gas for Renewable Energy, Peregrine Semiconductor Files for IPO, Cooley Q3 Venture Report, & More San Diego BizTech News”
EcoSynthetix Raises $7.2M from U.S. Backers, Much More from Abroad
EcoSynthetix has garnered more support from both domestic and international investors, according to an SEC filing. The Lansing, MI-based company—which applies its “green chemistry” to make latex and other materials from renewable resources—said it has raised $7.2 million from U.S. investors in an equity funding round. The filing does not list the investors in the … Continue reading “EcoSynthetix Raises $7.2M from U.S. Backers, Much More from Abroad”
Intarcia Bets It Will Shake Up Diabetes Treatment With Implantable Device
[Corrected: 11:15 pm Pacific, 11/29/10] Diabetes is supposed to be one of the biggest public health threats facing the U.S. over the next decade, yet if you talk to anybody developing drugs for this chronic disease, times have never been tougher. So how can Kurt Graves, the executive chairman at Hayward, CA-based Intarcia Therapeutics, sound … Continue reading “Intarcia Bets It Will Shake Up Diabetes Treatment With Implantable Device”
Sparkbuy Emerges from Stealth, Unveils Laptop Shopping Site
[Updated 11/30/10 with signup link. See below] Seattle-based Sparkbuy has come out of stealth mode today, rolling out a comparison shopping website for consumer electronics, starting with laptops. The company also confirmed that it raised $1 million last month led by Benaroya Ventures and angel investor Geoff Entress. Sparkbuy’s website is now in closed beta … Continue reading “Sparkbuy Emerges from Stealth, Unveils Laptop Shopping Site”
Hygeia Therapeutics Aims Synthetic Hormone Therapies At Aging Boomers (Men and Women Alike)
Hormone-replacement therapy was once billed as the fountain of youth for aging women facing the symptoms of menopause, until controversial studies from the past decade showed the hormones appeared to raise risks of heart attack and stroke. But hormone replacements never went completely away, and now a small Massachusetts biotech is seeking to tap new … Continue reading “Hygeia Therapeutics Aims Synthetic Hormone Therapies At Aging Boomers (Men and Women Alike)”
The Myth of the “Patent Cliff”
Doctors, patients, and investors who follow the biopharmaceutical business all recognize that the industry is exceedingly complex and in the midst of change. Companies struggle daily with a multifaceted mix of scientific, clinical, and business unknowns. Will a drug be medically effective and make it through clinical trials? Will it get the thumbs up from … Continue reading “The Myth of the “Patent Cliff””
Dinner With Microsoft’s Craig Mundie: On Xbox Kinect, Instantaneous Total Recall, and a More Secretive Culture
I recently had dinner here in the Boston area with Craig Mundie, Microsoft’s chief research and strategy officer. With just one other guest present, it was an unusually personal and far-ranging discussion. Most of the talk was of a general nature—more background than anything else. Still, a few things stuck with me as noteworthy. I … Continue reading “Dinner With Microsoft’s Craig Mundie: On Xbox Kinect, Instantaneous Total Recall, and a More Secretive Culture”
San Diego Project Taps New England Fuel Cell Company to Generate Energy From Waste Methane Gas
A complicated financing deal led by New Energy Capital of Hanover, NH, has provided $23.5 million for a renewable energy project in San Diego that uses methane gas from a sewage treatment plant to generate electricity from advanced technology fuel cells. Construction is scheduled to begin next month on a “biogas” purification system developed by … Continue reading “San Diego Project Taps New England Fuel Cell Company to Generate Energy From Waste Methane Gas”
Anacor Pharma Prices IPO at $5 a Share, Down from $16 to $18 Forecast
There is still a bearish market for biotech IPOs, but Palo Alto, CA-based Anacor Pharmaceuticals is the latest company to show that it was willing to plow ahead and accept that sentiment. Anacor (NASDAQ: [[ticker:ANAC]]) said today it agreed to sell 12 million shares at $5 apiece, raising a total of $60 million through its … Continue reading “Anacor Pharma Prices IPO at $5 a Share, Down from $16 to $18 Forecast”
BG Medicine Wins FDA OK, Primes Pump for Second Shot at IPO
BG Medicine, the Waltham, MA-based diagnostics company, said it has received FDA clearance for its lead product in development, a new test to measure the progress of patients with chronic heart failure. This is certainly the kind of news that can’t hurt for a company that’s trying to pull off an IPO, for the second … Continue reading “BG Medicine Wins FDA OK, Primes Pump for Second Shot at IPO”
Zogenix Goes Public, Amira Restructures, Apricus Gets Boost From FDA Agreement on Cancer Drug Trial, & More San Diego Life Sciences News
Most of the news from San Diego’s life sciences companies in the week before Thanksgiving was focused on funding deals. And you have our best wishes over the holiday. —After setting the price for its IPO between $12 and $14 a share earlier this month, San Diego specialty drug developer Zogenix (NASDAQ: [[ticker:ZGNX]]) priced its … Continue reading “Zogenix Goes Public, Amira Restructures, Apricus Gets Boost From FDA Agreement on Cancer Drug Trial, & More San Diego Life Sciences News”
As 3G Networks Buckle, Ruckus Wireless Sends Smart Wi-Fi to the Rescue
Wi-Fi: it’s the new utility, as crucial to many consumers and businesspeople as electricity and telephones. Wi-Fi chips are built into 800 million new laptops, mobile phones, tablet PCs, printers, video game controllers, and TV set-top boxes every year, and Wi-Fi networks blanket virtually every office, library, airport, hotel, café, and campus. If only Wi-Fi … Continue reading “As 3G Networks Buckle, Ruckus Wireless Sends Smart Wi-Fi to the Rescue”
Only a Few Tickets Left for Xconomy “Biotech’s Back in Seattle” Event on Nov. 29
Traveling around the country as Xconomy’s national life sciences editor, people sometimes give me funny looks when I say I’m from Seattle. Often, I hear something to the effect of, “Does Seattle even have a biotech industry?” Yes, it does. And even though most local politicians and media stopped talking about it a few years … Continue reading “Only a Few Tickets Left for Xconomy “Biotech’s Back in Seattle” Event on Nov. 29″
Dendreon Commercial Guy Leaves, Light Sciences CEO Exits, Amgen Wins FDA OK, & More Seattle-Area Life Sciences News
This was a short holiday week, and so we have an appropriately short biotech roundup. —Seattle-based Dendreon (NASDAQ: [[ticker:DNDN]]) said last week that its top sales and marketing executive, Varun Nanda, left the company effectively immediately. Nanda was hired back in April to lead the market introduction of Dendreon’s first product, sipuleucel-T (Provenge), and stayed … Continue reading “Dendreon Commercial Guy Leaves, Light Sciences CEO Exits, Amgen Wins FDA OK, & More Seattle-Area Life Sciences News”
Q3 Venture Capital Terms: Like a Rolling Stone
For me, the latest venture financing report for the third quarter that ended September 30 brings to mind Bob Dylan’s revolutionary rock ballad, “Like a Rolling Stone.” There is not only a sense of shattered hubris throughout the industry (granted, in some places more than others); there are no clear trends in the analysis of … Continue reading “Q3 Venture Capital Terms: Like a Rolling Stone”
Genzyme Sheds Diagnostics Unit, Novell Acquired by Attachmate, Archemix Sells Hemophilia IP to Baxter, & More Boston-Area Deals News
Acquisition news was big this week for New England-area tech and life sciences companies, but we also saw a few startup financings. —Cambridge-based Genzyme (NASDAQ: [[ticker:GENZ]]) sold its diagnostics products unit to Japanese firm Sekisui Chemical for $265 million in cash. The deal comes as part of Genzyme’s plan to sell off three of its … Continue reading “Genzyme Sheds Diagnostics Unit, Novell Acquired by Attachmate, Archemix Sells Hemophilia IP to Baxter, & More Boston-Area Deals News”
Zogenix IPO, Deeply Discounted, Raises $56M
Shares of San Diego-based Zogenix (NASDAQ: [[ticker:ZGNX]]) slid to $3.98 a share in the first day of trading today, after the drug-and-device startup substantially revised the terms of its initial public offering, raising less than anticipated. The specialty pharmaceutical company, which launched its Sumavel DosePro, a needle-free injectable migraine treatment in January, raised a total … Continue reading “Zogenix IPO, Deeply Discounted, Raises $56M”
Access Scientific Raises Another $2M
San Diego’s Access Scientific, which raised more than $2.6 million five months ago, has raised an additional $2 million, according to a regulatory filing yesterday. The company has begun the launch of its first new product, the “PICC Wand,” an all-in-one device intended to simplify the process of deploying a peripherally inserted central catheter line, … Continue reading “Access Scientific Raises Another $2M”
Amira Cuts Half of Staff, Scientific Founders Exit as Company Seeks to Conserve Cash
San Diego-based Amira Pharmaceuticals has cut half of its workforce and its trio of scientific founders have left the company as it seeks to conserve cash over the next two years, Xconomy has learned. The company is shrinking down to 25 employees, and the cuts are being concentrated primarily in discovery research and administration, as … Continue reading “Amira Cuts Half of Staff, Scientific Founders Exit as Company Seeks to Conserve Cash”
Wozniak Sets Blogs Atwitter with Apple-Nuance Remark
[Updated, see below] Proving that he has the power to move markets with an odd aside, Apple co-founder Steve Wozniak sparked rumors this week that Apple is buying Nuance Communications (NASDAQ: [[ticker:NUAN]]), the giant Burlington, MA-based maker of speech recognition software. The source of the speculation is a passing remark in a video interview about … Continue reading “Wozniak Sets Blogs Atwitter with Apple-Nuance Remark”
We Got Sad Angels and Mad Angels, But Not So Many Glad Angels After Boston Angel Dinner
AngelGate East it isn’t. Everyone seems to agree on that. But that is where the unanimity stops, at least if you are following the debate playing out on venture capitalist Rob Go’s blog about a Boston area angel and seed-stage investor dinner last week. Go’s post—“Sad Observations From a Boston Angel Dinner“—drew the ire of … Continue reading “We Got Sad Angels and Mad Angels, But Not So Many Glad Angels After Boston Angel Dinner”