[Updated and corrected, Aug. 26—see below] Just a few years ago, the Michigan Women’s Foundation was truly your mother’s philanthropic foundation—putting on fund-raising dinners, tapping corporate sponsors like the Big Three automakers, and then giving away small chunks of money to a wide array of charitable groups—totaling some $3.5 million to 420 entities to be … Continue reading “Herding Lionesses: Michigan Women’s Foundation Gathering Power Women, Forming Angel Fund to Invest in Female Entrepreneurs”
Category: National
San Diego Founder Kenneth Selzer, Investor Drew Senyei Pleased with INC Research Acquisition
There was no obvious reason for us to focus on the $575 million buyout of INC Research, a contract research organization based in Research Triangle Park, NC, that was announced last week. But the acquisition by Avista Capital Partners, a New York private equity firm, and the Ontario (Canada) Teachers’ Pension Plan’s private capital group, … Continue reading “San Diego Founder Kenneth Selzer, Investor Drew Senyei Pleased with INC Research Acquisition”
Promising Skin Cancer Drug Could Be First Big Win for Plexxikon’s Structure-Based Drug Discovery Approach
There’s a biotech startup called Plexxikon in Berkeley, CA, where executives and investors are probably mirroring this week’s sunscreen-worthy Bay Area weather with some sunny faces of their own. That’s thanks to encouraging news about Plexxikon’s lead drug candidate, which goes by the prosaic label PLX-4032, and its ability to reverse tumor growth in patients … Continue reading “Promising Skin Cancer Drug Could Be First Big Win for Plexxikon’s Structure-Based Drug Discovery Approach”
Varolii Confirms New Round of Layoffs This Week
Varolii, a Seattle-based company that develops tools for automated business communications, laid off an undisclosed number of employees this week. The story was first reported by TechFlash. Varolii’s director of public relations and customer programs Robin Rees confirmed the layoffs with Xconomy, citing ongoing corporate strain due to the downturn in the economic climate. “While … Continue reading “Varolii Confirms New Round of Layoffs This Week”
HealthEdge, Rising from the Ashes of DeNovis, Reaps Benefits from Healthcare Reform
People who paid close attention to the healthcare reform debate know that it was really about bringing sweeping changes to health insurance in the United States. It includes all kinds of new laws about who is eligible for coverage and other health benefits. For Burlington, MA-based HealthEdge, the legislation has created a new reason for … Continue reading “HealthEdge, Rising from the Ashes of DeNovis, Reaps Benefits from Healthcare Reform”
Can Microsoft Outflank Apple, Facebook, and Google? A Strategy Update
I left Seattle just over a month ago, and people keep asking if I miss anything about it. Yes, I say. But it’s not the amazing coffee, the great food, the nice people, or the beautiful scenery. I miss Microsoft. I’m only half-kidding. I don’t miss hearing about Steve Ballmer’s iPhone and every turn of … Continue reading “Can Microsoft Outflank Apple, Facebook, and Google? A Strategy Update”
Todd Dean Steps Down from Keiretsu Forum
The president of the Keiretsu Forum‘s Northwest chapter, Todd Dean, is stepping down from his position to pursue new career opportunities. Dean informed his fellow forum members of his decision in a letter, thanking them for their support in the past five years, both in growing the angel investment organization and bolstering the regional startup … Continue reading “Todd Dean Steps Down from Keiretsu Forum”
New Ann Arbor Firm, Resonant Venture Partners, Hopes to Team Up with Coastal VCs on Michigan Investments
Michael Godwin and Jason Townsend know what they’re getting into, launching a new seed-stage venture capital fund, Resonant Venture Partners, in Michigan during a time when getting institutional investors to climb onboard is next to impossible. “Yeah, it’s bleak in Michigan,” Godwin says, referring to the lack of institutional investor enthusiasm for venture funds in … Continue reading “New Ann Arbor Firm, Resonant Venture Partners, Hopes to Team Up with Coastal VCs on Michigan Investments”
Seattle Children’s CEO, Between Meetings, Invents Cheap Ventilator to Save Babies Worldwide
Being a hospital CEO sounds like a mind-numbing, innovation-crushing job to me. I imagine days filled with insurance hassles, egotistical docs, malpractice lawyers, and boring meetings about saving on rubber gloves. At night, I envision wining and dining donors to keep the place afloat. But in between doing everything that a hospital CEO must do, … Continue reading “Seattle Children’s CEO, Between Meetings, Invents Cheap Ventilator to Save Babies Worldwide”
What Is Boston Doing for the War on Cancer? Find Out at Xconomy Forum on October 20
Billions of dollars are being poured into R&D against cancer, by governments and pharma companies all over the world. I write about it pretty much every week on Xconomy. So it shouldn’t be any surprise we’ve been itching around here to pull off a socko event that gathers some of Boston’s top entrepreneurs in the … Continue reading “What Is Boston Doing for the War on Cancer? Find Out at Xconomy Forum on October 20”
A SBIR Program Director Offers Insights in Small Business Innovation Research “Grantsmanship” in the Life Sciences
There was a heavy turnout among rank-and-file scientists when the grassroots San Diego Entrepreneur Exchange (SDEE) hosted a panel discussion earlier this year on how to win a Small Business Innovation Research (SBIR) grant. So it might be standing room only for the briefing that San Diego’s Biocom industry group has organized tomorrow at the … Continue reading “A SBIR Program Director Offers Insights in Small Business Innovation Research “Grantsmanship” in the Life Sciences”
First Startups Take Flight From San Diego’s EvoNexus Incubator; Irvine Company Launches Initiative to ‘Renew’ University City as a Tech Hub
EvoNexus, the free incubator launched last November by San Diego’s CommNexus telecom industry group, is preparing to send its first fledgling startups into the wild—and to choose a few new startups to replace them. The comings and goings are taking place as both EvoNexus and CommNexus are settling into new office space themselves, just months … Continue reading “First Startups Take Flight From San Diego’s EvoNexus Incubator; Irvine Company Launches Initiative to ‘Renew’ University City as a Tech Hub”
Taking a VC Approach to Charity, Greylock Veteran’s Alzheimer’s Research Foundation “Dares to Be Great”
When Henry McCance started at Greylock Partners in 1969, the venture capital industry had less than $100 million of capital flowing into it each year, he approximates. Now, it’s roughly a $20 billion-a-year sector of the financial world that has backed companies whose products are, in many cases, staples of modern living. Five years ago, … Continue reading “Taking a VC Approach to Charity, Greylock Veteran’s Alzheimer’s Research Foundation “Dares to Be Great””
NeuroVista Raises $21.5M More Through VC Round and Investment From Cyberonics
[Updated and corrected: 1 pm, 9/9/10] Seattle-based medical device developer NeuroVista has raised $16.5 million in equity financing led by Australian firm GBS Venture Partners, and an additional $5 million through a convertible debt agreement with Houston, TX-based Cyberonics (NASDAQ: [[ticker:CYBX]]), a medical device firm specializing in the treatment of epilepsy and other neurological disorders. … Continue reading “NeuroVista Raises $21.5M More Through VC Round and Investment From Cyberonics”
Anchor Sinks $10M Series B, Aileron Lands Deal with Roche, C Change Launches Fund With Vanterra, & More Boston-Area Deals News
A flurry of tech and life sciences startup financings has kept us busy on the deals news front. —Andover, MA-based NewRiver, a maker of investor disclosure software, said it will be acquired for $77 million by Lake Success, NY-based Broadridge Financial Solutions (NYSE: [[ticker:BR]]). NewRiver’s investors include Ironside Ventures, FirstMark Capital, and Lazard Technology Partners. … Continue reading “Anchor Sinks $10M Series B, Aileron Lands Deal with Roche, C Change Launches Fund With Vanterra, & More Boston-Area Deals News”
Yahoo Search Now Fully Powered By Bing
Just over a year after announcing plans to team up on search engine and advertising efforts, Yahoo (NASDAQ: [[ticker:YHOO]]) and Microsoft (NASDAQ: [[ticker:MSFT]]) have completed a sizable leg of the search transition—Yahoo search results are now powered by Microsoft’s Bing in the U.S. and Canada, the companies said today. The ten-year agreement that puts Redmond, … Continue reading “Yahoo Search Now Fully Powered By Bing”
American Superconductor, Going Deeper Into Wind Power, Makes Moves in India and U.K.
One of the giants of the New England cleantech scene is making waves—or should I say, wind. Devens, MA-based American Superconductor (NASDAQ: [[ticker:AMSC]]) said today it has received a new order for 17 wind-turbine electrical control systems from Inox Wind, based in India. Financial details weren’t given, but the company is touting it as a … Continue reading “American Superconductor, Going Deeper Into Wind Power, Makes Moves in India and U.K.”
Business Accelerator Network for Southeast Michigan Offers $1M in Prizes for Entrepreneurs
Today’s launch of a huge $1 million business plan competition in southeast Michigan gives flesh to the ambitious phrases thrown around back in June, when the new regional Business Accelerator Network that is overseeing the competition was hailed by local business leaders as “one of the most catalytic events for entrepreneurial activity and innovation in … Continue reading “Business Accelerator Network for Southeast Michigan Offers $1M in Prizes for Entrepreneurs”
Five Prime Therapeutics, Gliding Like a Submarine, Quietly Takes Aim At Cancer
Five Prime Therapeutics is one of those companies built on the old school biotech business model. Take a cutting-edge scientific concept, mix in top scientists and big name venture backers, and see what you get 10 years later. Now it’s been eight years, and the company is moving toward the point in clinical trials where … Continue reading “Five Prime Therapeutics, Gliding Like a Submarine, Quietly Takes Aim At Cancer”
SG Biofuels and Life Technologies Map Whole Genome of Jatropha Plant
[Updated 8/27/10 12:15 pm. See below] Carlsbad, CA-based Life Technologies (NASDAQ: [[ticker:LIFE]]) and Encinitas, CA-based SG Biofuels are announcing today that they have completely sequenced the genome of Jatropha curcas, a hardy Central American bush that produces walnut-size seeds laden with oil. The entire genome was sequenced since January, when the two San Diego-area companies said … Continue reading “SG Biofuels and Life Technologies Map Whole Genome of Jatropha Plant”
Aileron Inks Deal with Roche, Worth Up to $1.1B, to Develop Stapled Peptide Drugs
It’s a big day for Aileron Therapeutics. The Cambridge, MA-based biotech firm announced this morning it has formed a partnership with Swiss drug and diagnostics giant Roche to discover, develop, and commercialize a new class of drugs known as “stapled peptides.” Under the terms of the deal, Roche (OTCQX: [[ticker:RHHBY]]) will provide at least $25 … Continue reading “Aileron Inks Deal with Roche, Worth Up to $1.1B, to Develop Stapled Peptide Drugs”
Qualcomm Then and Now—Will the Next 25 Be as Innovative as the Last 25?
It has been 25 years since seven former Linkabit employees met at Irwin Jacobs’ La Jolla home and founded a startup company to provide digital communications services. They saw their venture at the time in terms of QUALity COMMunications, and agreed to call the new company Qualcomm. Since its beginnings in July 1985, Qualcomm has … Continue reading “Qualcomm Then and Now—Will the Next 25 Be as Innovative as the Last 25?”
NoaNet Nabs $54.5M for Broadband Expansion, Tyfone Brings in $5M, AP Backs Out of I Can Has Cheezburger Deal, & More NW Deals News
Another week has passed, and with it, more Seattle-area technology deals. This week we’ve seen a hefty amount of federal dollars get poured into developing the state’s broadband infrastructure, a handful of local financings, and a deal that fell apart between a global wire service and a local online humor company. Take a look at … Continue reading “NoaNet Nabs $54.5M for Broadband Expansion, Tyfone Brings in $5M, AP Backs Out of I Can Has Cheezburger Deal, & More NW Deals News”
Free Widgets from ViralHeat Let Web Publishers Track Social Media Buzz
No, “ViralHeat” is not the fever you get from a rhinovirus infection. It’s a San Jose, CA-based startup launched last year that’s disrupting the social media monitoring business by showing corporations what people are saying about them on Twitter, Facebook, Google Buzz, YouTube, and the Web at prices far below those charged by most competitors. … Continue reading “Free Widgets from ViralHeat Let Web Publishers Track Social Media Buzz”
SCVNGR, Battling Foursquare and Others, Looks to Stay “On Top of the World” After Facebook Fallout
“I’m the only person in location who’s happy today.” That was Seth Priebatsch last Thursday. It was the morning after Facebook announced its new feature, Facebook Places, that lets people “check in” using their iPhone or iPad (or location-aware laptop) and share their location with their social network. The general consensus among tech observers is … Continue reading “SCVNGR, Battling Foursquare and Others, Looks to Stay “On Top of the World” After Facebook Fallout”
ValueAppeal Rolls Out National Services for Property Tax Appeals, Competing with EasyTaxFix and Others
Who wouldn’t want to lower their property taxes? That’s the question on the minds of the team over at ValueAppeal, a Seattle-based startup that helps online customers to quickly evaluate their current value of their real estate property, and to create a custom property tax appeal that could potentially save them money. The company, founded … Continue reading “ValueAppeal Rolls Out National Services for Property Tax Appeals, Competing with EasyTaxFix and Others”
AmberWave Systems Shut Down After Raising $91M in Venture Backing—New Company Formed With Its Assets
Earlier this year, Salem, NH-based semiconductor company AmberWave Systems Corp quietly shut its doors, and a new company called AmberWave, Inc. has been formed with its assets, according to multiple sources close to the companies. The news comes to light after an SEC filing on Thursday revealed that AmberWave, Inc., incorporated this year, had raised … Continue reading “AmberWave Systems Shut Down After Raising $91M in Venture Backing—New Company Formed With Its Assets”
Rapportive’s “Social CRM” Gmail Plugin Makes E-mail Social Again
This is the fifth in a series of profiles of companies emerging this summer from Mountain View, CA-based startup incubator Y Combinator. When Google launched Gmail five years ago, a lot of people were freaked out by the keyword-based text ads that appeared alongside e-mail messages. The idea that Google’s algorithms were “reading” your e-mail … Continue reading “Rapportive’s “Social CRM” Gmail Plugin Makes E-mail Social Again”
Ann Arbor’s Own Hopes To Get Michigan Coffee Houses Buzzing Again
The Burrito Joint eatery at the corner of Packard and Dewey in Ann Arbor might seem an unlikely birthplace for a tech startup. But that was where Verdi Erel Ergun, 27, the Joint’s owner and an MBA student at the University of Michigan, decided he was fed up with his cash register. And frustration, when … Continue reading “Ann Arbor’s Own Hopes To Get Michigan Coffee Houses Buzzing Again”
ViaSat Keeps Lead in Space-Based Internet, Mitek Enables Smartphone Check Deposits, AngeList Screens Biz Plans for Individual Investors & More San Diego BizTech News
We had interesting patent news that put Mitek Systems on our innovation radar screen, and that’s where you want to be. Catch up on that and the rest of San Diego’s tech news for the past week. —The competition for satellite-based Internet service is tightening up for Carlsbad, CA-based ViaSat (NASDAQ: [[ticker:VSAT]]), which now faces … Continue reading “ViaSat Keeps Lead in Space-Based Internet, Mitek Enables Smartphone Check Deposits, AngeList Screens Biz Plans for Individual Investors & More San Diego BizTech News”
AP Backs Out of I Can Has Cheezburger Deal Over Concerns of Journalistic Integrity
Everyone loves a cute picture of a kitten with a funny (and often, misspelled) caption over it. Everyone other than the Associated Press, that is. Seattle’s famous (or infamous depending on your point of view) I Can Has Cheezburger network has made a name for itself as a place where the absurdly adorable meets funny. … Continue reading “AP Backs Out of I Can Has Cheezburger Deal Over Concerns of Journalistic Integrity”
Taligen Collects $10M For Focus on Rare Diseases
Taligen Therapeutics wants to apply its technology platform to treat rare diseases in which the immune system goes haywire and attacks healthy cells. The Cambridge, MA-based biotech startup says it has received $10 million from its investors to drive its first drug toward initial human studies against a rare autoimmune disease. The new funding brings … Continue reading “Taligen Collects $10M For Focus on Rare Diseases”
How Bay Area Biotech Stacks Up With the Rest of the World
Recently, Newsweek columnist Fareed Zakaria told an audience of biotechnology executives that America’s foothold as the preeminent technology innovator may be slipping. “Bill Gates is the Britney Spears of China,” Zakaria said. “But in the U.S., Britney Spears is still Britney Spears.” The reverence our rivals place on science and math is measured appropriately in … Continue reading “How Bay Area Biotech Stacks Up With the Rest of the World”
Startup Investing in Massachusetts Shrinks to $131M in July, Big Drop From June Surge
It looks like the lazy days of summer are in full swing. While equity financing deals for Massachusetts startups surged in June to hit a total of $307 million, investors took a bit of a break in July. Last month, Bay State tech and life sciences startups raised less than half their June sum, $131.4 … Continue reading “Startup Investing in Massachusetts Shrinks to $131M in July, Big Drop From June Surge”
Intel Buys McAfee, Facebook Challenges Foursquare, Zynga Acquires Conduit Labs, & More Bay Area BizTech News
Technology newshounds were torn last week between the old and the new. One analyst described Intel’s multi-billion-dollar takeover of McAfee as “a lot like a horseless-carriage vendor buying a leading supplier of buggy-whips.” There was far more buzz over Facebook’s new geolocation platform and what it might mean for competitors. The roundup: —In dollar terms, … Continue reading “Intel Buys McAfee, Facebook Challenges Foursquare, Zynga Acquires Conduit Labs, & More Bay Area BizTech News”
Entrepreneurial Walk of Fame Idea Resonates—Although A Few Potential Cracks Have Surfaced in the Pavement
If ever an idea has, um, hit its stride quickly, it’s the one we wrote about last week to create an Entrepreneurial Walk of Fame in Kendall Square to honor local and regional entrepreneurs in much the same fashion as the Hollywood Walk of Fame honors movie stars. As Xconomist Bill Aulet, managing director of … Continue reading “Entrepreneurial Walk of Fame Idea Resonates—Although A Few Potential Cracks Have Surfaced in the Pavement”
Apple to Shut Down Quattro Wireless Ad Network; Quattro Team Working to get iAd Platform Up to Speed
Waltham, MA-based Quattro Wireless, which was acquired by Apple in January, is shutting down its three-year-old mobile advertising network in order to focus exclusively on suppporting Apple’s new iAd platform for distributing rich-media ads to iPhone and iPod touch users. Quattro announced the shutdown today on its website and in a memo to advertisers and … Continue reading “Apple to Shut Down Quattro Wireless Ad Network; Quattro Team Working to get iAd Platform Up to Speed”
Biocept Targets Spreading Tumors With Advance in Diagnostics
We noted earlier this week that San Diego-based Biocept, which is developing advanced cancer diagnostics technology, had recently raised $2.3 million from its investors. That news reminded me of a fascinating meeting I had in June with Biocept CEO Stephen Coutts, a 30-year veteran of San Diego’s biotech community. In one of the cooler demonstrations … Continue reading “Biocept Targets Spreading Tumors With Advance in Diagnostics”
$81M From Feds Will Help Rural Michigan Get Up to Speed With Broadband—and Help Startups Start Up
It sounds barbaric, I know, but there are areas of Michigan where the only way to access the Internet is through a dial-up connection. These throwbacks to the 1990s are primarily located in rural areas and in the Upper and Northern Lower Peninsulas. And it’s not because they’re a bunch of Luddites up there. The … Continue reading “$81M From Feds Will Help Rural Michigan Get Up to Speed With Broadband—and Help Startups Start Up”
Anchor Therapeutics Nabs $10M for New Class of Peptide Drugs Against Hard Targets
One of the many companies in Boston taking a shot at developing a new class of therapies has gotten a second vote of confidence from investors. Cambridge, MA-based Anchor Therapeutics has secured a $10 million Series B round of financing from its current investors, TVM Capital, HealthCare Ventures, and the Novartis Option Fund. Anchor, formerly … Continue reading “Anchor Therapeutics Nabs $10M for New Class of Peptide Drugs Against Hard Targets”
In Seed Funding Race, AngelList Sorts the “Junk” from the “Maybes”
You don’t have to search far on Twitter for glowing testimonials about AngelList, a matchmaking service for startups and angel investors launched in February by San Francisco investor/entrepreneurs Babak Nivi and Naval Ravikant: “Wow, just a few days and I’m pretty impressed by the quality of the opportunities”—Hunter Walk “An entrepreneur’s best friend. Two companies … Continue reading “In Seed Funding Race, AngelList Sorts the “Junk” from the “Maybes””
PacBio Seeks $200M IPO, Complete Genomics Adds $39M, Siluria Envisions Cleaner Plastics, & More Bay Area Life Sciences News
The movement toward better/faster/cheaper gene sequencing dominated the Bay Area life sciences beat this week. Serious money is flowing into this industry. —Pacific Biosciences lit a spark for gene sequencing this week, when it released an investor prospectus that says it hopes to raise $200 million through an IPO. The Menlo Park, CA-based company is … Continue reading “PacBio Seeks $200M IPO, Complete Genomics Adds $39M, Siluria Envisions Cleaner Plastics, & More Bay Area Life Sciences News”
Biogen Strikes Deal with Knopp for ALS Drugs, Selecta Gets New CEO, Avantra Scores $7M, & More Boston-Area Life Sciences News
News of funding and partnerships for area biotechs, plus an in-depth interview with a state life sciences administrator, made it a busy news week for us. —Last week Ryan broke the news that former executives of Sirtris Pharmaceuticals, the biotech known for developing drugs based on the red wine chemical resveratrol, were selling a dietary … Continue reading “Biogen Strikes Deal with Knopp for ALS Drugs, Selecta Gets New CEO, Avantra Scores $7M, & More Boston-Area Life Sciences News”
Xconomy is Expanding Its Coverage of Michigan Innovation—and We’re Looking for Great Writers to Join Us
It’s been just four months since we launched Xconomy Detroit to bring our unique coverage of life sciences, information technology, energy, transportation, robotics, venture capital, and other high-tech arenas to bear on Michigan’s innovation scene—but already we want more! We have found a ton of stories of technology and innovation that still need telling, and … Continue reading “Xconomy is Expanding Its Coverage of Michigan Innovation—and We’re Looking for Great Writers to Join Us”
Siluria, Backed by Arch, Alloy, and Kleiner Perkins, Seeks Cheaper & Cleaner Plastics
Kristina Burow of Arch Venture Partners was itching to tell me something back in mid-June when we met at her office in San Francisco’s Mission Bay district. It involved a startup, had something to do with her chemistry training, and clearly had her excited. The startup wasn’t quite ready to come out of stealth mode … Continue reading “Siluria, Backed by Arch, Alloy, and Kleiner Perkins, Seeks Cheaper & Cleaner Plastics”
Agios, Nourished with $130M Celgene Deal, Expanding Staff and Labs to Starve Cancer
[Editor’s note, Aug. 23, 2010: Updated and corrected, see below.] David Schenkein, the CEO of the biotech startup Agios Pharmaceuticals, walked into the firm’s Cambridge, MA, headquarters last week with building plans rolled up in his hand. It was evident that his three-year-old company is growing quickly to pursue new drugs to starve cancer cells, … Continue reading “Agios, Nourished with $130M Celgene Deal, Expanding Staff and Labs to Starve Cancer”
Xconomy Xchange: Jonathan Bush and Girish Navani Face Off on the Future of Health IT
Jonathan Bush and Girish Navani are two dynamic health IT leaders whose companies compete head-to-head in the growing market for electronic health records and healthcare revenue management technology. Bush, the chairman and CEO of athenahealth, is an outspoken advocate for delivering Internet-enabled services to physicians. Navani, the chief executive and co-founder of eClinicalWorks, has built … Continue reading “Xconomy Xchange: Jonathan Bush and Girish Navani Face Off on the Future of Health IT”
Small Deals Add Up: A Roundup of Under-the-Radar Deals in San Diego
July was a busy month for small deals, according to the latest data from CB Insights, the New York information and data services firm that tracks the private company deals that help fuel the innovation economy. CB Insights sweeps the sub $1 million deals for both technology and life sciences companies into this roundup. Many … Continue reading “Small Deals Add Up: A Roundup of Under-the-Radar Deals in San Diego”
Why Facebook Places Will Make Foursquare into a Footnote
If Facebook is doing location, then location must finally be real. I don’t mean that in a sarcastic way. I think that’s actually the most important takeaway from the introduction of Facebook Places last night, at a media event I attended at the social networking giant’s Palo Alto headquarters. The new feature allows people accessing … Continue reading “Why Facebook Places Will Make Foursquare into a Footnote”