[Correction: 10:05 am Pacific] The buzz around Seattle Genetics (NASDAQ: [[ticker:SGEN]]) has been about whether it will finally prove, after more than a decade, that an “empowered antibody” can be an effective treatment for cancer. But while fewer people are watching, the company is eagerly awaiting clinical results for a traditional antibody that also has … Continue reading “Seattle Genetics’ Dark Horse Drug Candidate Approaches Home Stretch in Leukemia Study”
Category: National
Top 10 Things Michael Bishop Did as UCSF Chancellor
It is impossible for me in a couple minutes to articulate just what a great legacy Mike had in his 11 years as UCSF chancellor. So I’m going to give you a top 10 list in the style of David Letterman. Think of this as his legacy: 10. The initiation of a vigorous campus-wide program … Continue reading “Top 10 Things Michael Bishop Did as UCSF Chancellor”
Cleantech Open Names Semifinalists, Opscode Pulls in $11M, Greg’s Five Trends to Watch, & More Seattle-Area Deals News
This past week has been a slow one on the deals front, partly because of our own transition here at Xconomy Seattle. Greg has been over in Boston this past week setting up for his new post, and yesterday was my first day on the job as the new assistant editor here in Seattle. Still, … Continue reading “Cleantech Open Names Semifinalists, Opscode Pulls in $11M, Greg’s Five Trends to Watch, & More Seattle-Area Deals News”
RelayRides, Out to Be the Community-Powered Zipcar, Hits the Ground With Pilot Rental Program
In 2007 Shelby Clark’s car died just as he crossed into San Francisco, ready to start work with micro-lending nonprofit Kiva.org. He discovered ZipCar once he got to the Bay Area and a year later still hadn’t bought a car of his own. Fast-forward to November 2008. Clark had moved to Boston to attend Harvard … Continue reading “RelayRides, Out to Be the Community-Powered Zipcar, Hits the Ground With Pilot Rental Program”
Opscode Nabs $11M From Battery Ventures, Draper Fisher Jurvetson for Software Automation
Seattle-based automation software developer Opscode said today it has raised $11 million in a Series B financing led by Battery Ventures. This latest round of funding includes a follow-on investment from Draper Fisher Jurvetson, which led the company’s $2.5 million Series A round back in April 2009. Opscode plans to use the money to hire … Continue reading “Opscode Nabs $11M From Battery Ventures, Draper Fisher Jurvetson for Software Automation”
Major Michigan Business Incubators Get $3M Incentive to Get Their Act Together
Southeast Michigan’s four major business incubators are, at last, discovering how to work together, with $3 million worth of prodding from the New Economy Initiative, a philanthropic organization aimed at transitioning the region to an innovation-based economy. The leaders of Ann Arbor SPARK, Techtown in Detroit, Automation Alley in Troy, MI, and the Macomb-OU INCubator … Continue reading “Major Michigan Business Incubators Get $3M Incentive to Get Their Act Together”
Fallbrook Moves Ahead With Chinese Bus Deal
In a move foreshadowed last month in its amended IPO filing, San Diego’s Fallbrook Technologies says today it has inked a deal with China’s Chengdu Bus Co. to put its accessory drive technology into buses made for use in the Chinese market by Chengdu. Bill Klehm, Fallbrook’s chairman and CEO, calls the memorandum of understanding … Continue reading “Fallbrook Moves Ahead With Chinese Bus Deal”
MIT Startup peerTransfer Wins Global Entrepreneurship Competition in Barcelona
[Updated 2:30 pm 6/21/10 (see bottom).] Score one for Boston innovation—and MIT startups in particular. Cambridge, MA-based peerTransfer, an online money transfer and global payments company spun out of MIT, has won the 20,000-Euro prize for the most promising early-stage startup in the HIT Global Entrepreneurship Competition. The award was given late last week as … Continue reading “MIT Startup peerTransfer Wins Global Entrepreneurship Competition in Barcelona”
A Consensus of Three: Venture Capital Still Looking to Grab Rebound
Have we turned the corner on the recession? That was the big question for the out-of-town venture capital partners—including two from the San Francisco Bay Area—who came to San Diego last week to offer their perspective on the post-collapse generation of venture capital and technology innovation. “One thing that’s clear is that the other side … Continue reading “A Consensus of Three: Venture Capital Still Looking to Grab Rebound”
West Wireless Health Institute Gets $25M, Pervasive Raises $6M for Smart Grid Chips, Covario Rolls Out Buzz-Measuring Analytics, & More San Diego BizTech News
The West Wireless Health Institute, which wants to become a beacon for mobile health innovations that can help drive down the cost of healthcare, is off to a good start. Get the latest on their funding and partnerships, along with the rest of the news about San Diego’s technology innovations: —The Gary and Mary West … Continue reading “West Wireless Health Institute Gets $25M, Pervasive Raises $6M for Smart Grid Chips, Covario Rolls Out Buzz-Measuring Analytics, & More San Diego BizTech News”
CytoPherx of Ann Arbor Raises $5M For Device To Treat Kidney Failure
CytoPherx, a medical device company based in Ann Arbor, MI, has raised $5 million toward a $7.5 million Series B round, according to VentureWire and a June 11 regulatory filing. CytoPherx is a portfolio company of Apjohn Ventures, based in Kalamazoo, MI, which participated in the round led by Diamond Capital Partners in Los Angeles. … Continue reading “CytoPherx of Ann Arbor Raises $5M For Device To Treat Kidney Failure”
Pawan Deshpande, Son of Desh Deshpande, Launches Software for Automating Corporate Blogging
Having your son follow in your footsteps seems like a pretty good Father’s Day present. Pawan Deshpande, son of well-known Boston-area entrepreneur Gururaj “Desh” Deshpande, is announcing the formal launch of his Cambridge-based startup HiveFire‘s software product today. The younger Deshpande’s technology and market differ greatly from his father’s ventures (which include optical switch maker … Continue reading “Pawan Deshpande, Son of Desh Deshpande, Launches Software for Automating Corporate Blogging”
Meet Xconomy Seattle’s Newest Team Member: Thea Chard
We played musical chairs last week at Xconomy, as we expanded into the San Francisco Bay Area. One of the important moves will become clear today, as I’m happy to introduce the newest member of our editorial team in Seattle, Thea Chard. Thea (pronounced TAY-uh) is trekking over to our First Hill office today for … Continue reading “Meet Xconomy Seattle’s Newest Team Member: Thea Chard”
You Can Go Home Again: Five Themes to Watch in the Boston Innovation Scene
Sometimes you have to leave a place in order to really appreciate it. That’s not the case for me and Boston. I’ve always loved this area—but coming home after a two-year stint away makes for a nice opportunity to put my appreciation down in words. So, as the incoming Editor of Xconomy Boston, I hope … Continue reading “You Can Go Home Again: Five Themes to Watch in the Boston Innovation Scene”
SF and Silicon Valley: Drop the Incrementalism and Invest in True Innovation
“Just as energy is the basis of life itself and ideas the source of innovation, so is innovation the vital spark of all human change, improvement and progress”—Theodore Levitt I have lived in the Seattle area for many years, and I spend a fair amount of time interacting with senior executives and fellow venture capitalists … Continue reading “SF and Silicon Valley: Drop the Incrementalism and Invest in True Innovation”
Reg Kelly, Scotsman from Humble Roots, Finds New Purpose at QB3 in Mission Bay
One of the leaders of the renaissance in biomedical research and entrepreneurship in San Francisco’s Mission Bay district almost didn’t have a chance to go to college. Reg Kelly, the director of the California Institute for Quantitative Biosciences (QB3), was born 70 years ago in Edinburgh, Scotland, into a family so poor that he couldn’t … Continue reading “Reg Kelly, Scotsman from Humble Roots, Finds New Purpose at QB3 in Mission Bay”
Metcalfe Says Gore Is Back for Another Bubble, Fitton Likens Raising Angel Funding to Dating, Xconomy CEO Sings New England’s Praises (Literally), and More XSITE 2010 Highlights
Thanks to everyone who made it out to Babson College for the 2010 Xconomy Summit on Innovation, Technology, & Entrepreneurship! We had a great crowd, representing all slices of the innovation community here in New England. And we heard some new, off-the-cuff perspectives from some familiar faces, as well as talks from emerging companies and … Continue reading “Metcalfe Says Gore Is Back for Another Bubble, Fitton Likens Raising Angel Funding to Dating, Xconomy CEO Sings New England’s Praises (Literally), and More XSITE 2010 Highlights”
San Diego Police Investigating Angel Investor’s Death as Homicide
San Diego police have launched a homicide investigation into the death of John G. Watson, a retired biotech executive and board member of the San Diego Tech Coast Angels, according to members of the startup investment group who were close to Watson. Watson’s body was found in the bedroom of his La Jolla Apartment on … Continue reading “San Diego Police Investigating Angel Investor’s Death as Homicide”
Solar Day, Born in San Francisco, Radiates to Dozens of Cities
After 40 years of observances, you probably know that April 22 is Earth Day. But you may not have known that tomorrow, June 19, is SolarDay. Billed by its organizers as a chance for alternative energy activists and solar energy entrepreneurs to highlight the solar technology options and government rebate and incentive programs available to … Continue reading “Solar Day, Born in San Francisco, Radiates to Dozens of Cities”
West Wireless Health Institute Marks Its Debut With Swanky Soiree, Hints of Venture Fund
In early 2009, when the nation was in a full-blown recession, San Diego’s tech community was taken aback by the size of a $45 million grant that Midwestern telemarketing billionaires Gary and Mary West made through their family foundation to create the West Wireless Health Institute. Since then, Gary and Mary West have doubled their … Continue reading “West Wireless Health Institute Marks Its Debut With Swanky Soiree, Hints of Venture Fund”
Meet Greg, and Say Goodbye to Wade, Next Tuesday at Cambridge Brewing Company
By now most Xconomy fans know that we’re in the middle of a big game of musical chairs inside the company. Well, next Tuesday night will be your chance to join the fun. We’re throwing an open party at the Cambridge Brewing Company, at One Kendall Square in Cambridge, to welcome Greg Huang, who’s leaving … Continue reading “Meet Greg, and Say Goodbye to Wade, Next Tuesday at Cambridge Brewing Company”
Memorial Service for Theraclone CEO Dave Fanning Set for Tuesday
Here’s a quick update to the obituary about Theraclone Sciences CEO David Fanning. A memorial service has been scheduled for 1:30 pm on Tuesday, June 22, at Grace Episcopal Church on Bainbridge Island, 8595 NE Day Road. Directions can be found on the church website. Steve Gillis, the managing director of Arch Venture Partners and … Continue reading “Memorial Service for Theraclone CEO Dave Fanning Set for Tuesday”
Goodbye, Boston
Who was it who wrote, “If Silicon Valley didn’t exist, Boston would have to invent it in order to have someplace to feel inferior to”? Oh wait, that was me. It was a snarky thing to say—but it was back in February 2009, and I was feeling piqued at the time about calls for a … Continue reading “Goodbye, Boston”
Stanford Biodesign, a Hothouse for Medical Devices, Shares its Secret Sauce for Invention
Stanford’s Program in Biodesign assesses its would-be and current fellows much as a lot of other elite graduate programs do. It looks at their academic record of achievement, their creative potential, and what they go on to accomplish in life. But one thing really struck me as unusual when I was on campus last week … Continue reading “Stanford Biodesign, a Hothouse for Medical Devices, Shares its Secret Sauce for Invention”
Step One Toward Sustainable Innovation: Stop Overpaying Employees
1. Stop overpaying employees. Jobs now have inflated value because most companies assume that everyone they employ or hire is above average, which is a mathematical impossibility. 2. Stop poaching staff from other companies, which disrupts many companies and poisons worker attitudes. The “me, first” culture encourages too many job changes and companies are now … Continue reading “Step One Toward Sustainable Innovation: Stop Overpaying Employees”
San Diego’s Neurocrine Biosciences Scores Second Big Deal in Two Days
Neurocrine Biosciences, which looked like it was stuck perpetual retrenchment-mode, just pulled off its second big deal in two days. Yesterday, the San Diego biotech agreed to grant German drug maker Boehringer Ingelheim worldwide rights to experimental diabetes drugs. Neurocrine will get an upfront payment of $10 million and milestone payments of up to $225 … Continue reading “San Diego’s Neurocrine Biosciences Scores Second Big Deal in Two Days”
Motricity Completes IPO, Settles For $50M
Motricity found a limited appetite from Wall Street for its IPO, but it decided to seal the deal anyway. The Bellevue, WA-based maker of wireless technologies completed its IPO, by selling 5 million shares at $10 apiece. That offering is a long shot from what Motricity (NASDAQ: [[ticker:MOTR]]) originally hoped it would fetch when it … Continue reading “Motricity Completes IPO, Settles For $50M”
How Seattle Startups Could Lead the World: Five Technology Themes to Watch
As I reflect on my time in the Northwest, I find myself gravitating toward the bigger picture: which areas of technology and business innovation is this region poised to really own over the next few years? After giving us the likes of Microsoft, Amazon, Boeing, McCaw Cellular, and Starbucks, surely Seattle is ready for an … Continue reading “How Seattle Startups Could Lead the World: Five Technology Themes to Watch”
Curis Misses Mark in Cancer Drug Trial, Genzyme Re-Elects Full Board, GTC Cuts Jobs, & More Boston-Area Life Sciences News
This week we saw news from Genzyme’s much-awaited annual meeting, in addition to funding news and profiles of startups with Boston roots and West Coast backing. —Nonprofit organization Women Entrepreneurs in Science and Technology held its third annual Leadership Awards celebration. Three of the four award winners were from life sciences companies: On-Q-ity CEO Mara … Continue reading “Curis Misses Mark in Cancer Drug Trial, Genzyme Re-Elects Full Board, GTC Cuts Jobs, & More Boston-Area Life Sciences News”
West Wireless Health Institute Gets Another $25M, Announces New Partnerships
If nothing else, the West Wireless Health Institute knows how to make a splash. The San Diego-based nonprofit research institute, which made its debut in March 2009 by announcing a $45 million grant, is hosting an open house this evening that represents the first chance most people have had to tour the recently remodeled, three-story, … Continue reading “West Wireless Health Institute Gets Another $25M, Announces New Partnerships”
Motricity Lowers IPO Price Range to $10 to $11
Motricity’s IPO isn’t attracting the kind of interest the company had hoped for. The Bellevue, WA-based maker of wireless technology has cut its forecasted IPO price range. Motricity (NASDAQ: [[ticker:MOTR]]) now hopes to price its initial shares at $10 to $11 each, down from an earlier goal of $14 to $16, according to Renaissance Capital. … Continue reading “Motricity Lowers IPO Price Range to $10 to $11”
Own a Volt, Get a Jolt With Free Chargers From GM and the Feds
General Motors is planning to give away free high-speed home chargers to juice up its gas-electric hybrid Chevy … I mean, Chevrolet … Volt when it’s released to customers this year. The money to cover the 4,400 freebie 240-volt chargers comes from federal stimulus dollars and is part of the Detroit automaker’s general strategy of … Continue reading “Own a Volt, Get a Jolt With Free Chargers From GM and the Feds”
Oncothyreon’s Cancer Vaccine Back in the Saddle, as Merck KGaA Re-Starts Clinical Trials
Oncothyreon can breathe a sigh of relief. The Seattle-based developer of cancer treatments (NASDAQ: [[ticker:ONTY]]) said today its partner, Germany-based Merck KGaA, has been cleared to re-start clinical trials of an immune-boosting therapy after trials were halted earlier this year when a patient developed an unexpected inflammation of the brain. The German-based Merck got clearance … Continue reading “Oncothyreon’s Cancer Vaccine Back in the Saddle, as Merck KGaA Re-Starts Clinical Trials”
Brain Cells’ Antidepressant Disappoints in Clinical Study, Otonomy Hears the Sound of Money, Cognionics Wins Startup Competition, & More San Diego Life Sciences News
A spate of financings dominated the headlines in the past week. We’ve got it summarized for you here. —Brain Cells’ experimental antidepressant was no better than placebo in a mid-stage clinical trial, but the results hinted the drug might help people with a combination of depression and anxiety. Thecompany hasn’t decided what to do next, … Continue reading “Brain Cells’ Antidepressant Disappoints in Clinical Study, Otonomy Hears the Sound of Money, Cognionics Wins Startup Competition, & More San Diego Life Sciences News”
iPierian, With Harvard Science and Kleiner Perkins Cash, Pursues Stem Cells to Make Drugs
Stem cells captivated the broad public imagination more than a decade ago, and despite all the hyperbole about creating Lazarus-like regenerative medicines, nobody has built a powerhouse business on this technology. Now a little company in South San Francisco, iPierian has a vision for using stem cells in a way that may not generate magazine … Continue reading “iPierian, With Harvard Science and Kleiner Perkins Cash, Pursues Stem Cells to Make Drugs”
Two Ways to Spark More Life Science Innovation, and One Way IT Can Avoid Harming Medicine
1. The number one thing entrepreneurs and VCs can do is focus on creating science-driven companies that are committed to making enormous differences in the lives of patients. They should take advantage of the amazingly rapid pace of biomedical discovery from academia and the enormous interest from pharma in true innovation driven by entrepreneurial cultures … Continue reading “Two Ways to Spark More Life Science Innovation, and One Way IT Can Avoid Harming Medicine”
Dave Fanning Dies Suddenly, Pfizer Scraps Trubion Drug, MediQuest Tees Up Next Trial, & More Seattle-Area Biotech News
This was a sad week in Seattle biotech, as the region lost one of its prominent startup CEOs and all-around good guys. —David Fanning, the president and CEO of Seattle-based Theraclone Sciences, died suddenly on Monday morning. When I have more information on memorial services, I will update this story. —Pfizer, the world’s largest drugmaker, … Continue reading “Dave Fanning Dies Suddenly, Pfizer Scraps Trubion Drug, MediQuest Tees Up Next Trial, & More Seattle-Area Biotech News”
Magoosh, Test Prep Startup From Berkeley, Wins Inaugural North Bridge Seed Competition
Berkeley, CA-based Magoosh, a developer of low-cost online multimedia materials for the lucrative test preparation industry, is one of two startups to snag the top prize in North Bridge Venture Partners‘ first seed capital competition. Both Magoosh and Pittstown, NJ-based Profitably, a business intelligence software startup focused on small businesses, will receive $50,000 in seed … Continue reading “Magoosh, Test Prep Startup From Berkeley, Wins Inaugural North Bridge Seed Competition”
Daktari Diagnostics, Backed by Gates Foundation, Raises Funds for HIV Test Study
Daktari Diagnostics is finding more support from both nonprofit and for-profit investors to make monitoring the health of HIV patients easy and cheap. The Cambridge, MA-based startup has added $820,000 to its Series A round this month as it prepares to begin its first clinical trials this summer with its inexpensive technology for measuring an … Continue reading “Daktari Diagnostics, Backed by Gates Foundation, Raises Funds for HIV Test Study”
Covario Adds Analytics to Help Customers Measure Social Media ‘Buzz’
San Diego’s Covario, the venture-backed analytics company that specializes in helping customers improve the results of their search-based marketing, has added to its Software-as-a-Service capabilities for tracking online search and display advertising. The company says its latest innovation, the Covario Social Media Insight (SMI) solution, is an extension of its Web-based platform for Cross Media … Continue reading “Covario Adds Analytics to Help Customers Measure Social Media ‘Buzz’”
Boatracs Completes Spinout From AirIQ
San Diego’s Boatracs, which develops data communications and vessel monitoring technologies for the maritime industry, says it is now an independent and privately held company, after completing a spinout from AirIQ, its former Toronto-based corporate parent. Financial terms were not disclosed. Boatracs was one of the first San Diego companies to adopt Qualcomm technology. It … Continue reading “Boatracs Completes Spinout From AirIQ”
Genzyme Annual Meeting Remarkably Mundane, Despite Rocky Year
Cambridge, MA-based Genzyme’s annual meeting was over in about an hour, and although the company took some hard questions from a shareholder about an internal investigation into insider trading and other matters, it appears that chairman and CEO Henri Termeer and the rest of the company’s directors were easily re-elected to serve on the board … Continue reading “Genzyme Annual Meeting Remarkably Mundane, Despite Rocky Year”
Curis Stock Tanks After Cancer Drug Fails in Roche, Genentech’s Hands
Curis, the Cambridge, MA-based biotech company, is having a very bad day. The company’s stock plunged more than 40 percent today after its experimental cancer drug failed to reach its goal in a clinical trial conducted by its partner, Roche, and its U.S.-based Genentech unit. Curis (NASDAQ: [[ticker:CRIS]]) said that its experimental therapy, GDC-0449, failed … Continue reading “Curis Stock Tanks After Cancer Drug Fails in Roche, Genentech’s Hands”
We Got Deals: Financings Breathe New Life Into Local Life Sciences Companies
We turned up some recent funding deals for several San Diego life sciences, including venture funding for a medical device startup, and financing deals for one company developing anti-cancer drugs and another developing medical diagnostics. Here’s a rundown of what I found: —Access Scientific, a San Diego-based medical device startup, has collected more than $2.6 … Continue reading “We Got Deals: Financings Breathe New Life Into Local Life Sciences Companies”
Of Angel Tsunamis, the X Prize, Wireless Power, Mobile Health, & More —XSITE 2010 is Tomorrow
Everyone in the innovation community knows entrepreneurs and big companies alike are hard at work across New England building the next economy. But tomorrow, at XSITE 2010—the Xconomy Summit on Innovation, Technology, and Entrepreneurship—we are bringing together some 50 companies and 30 startups, and a host of VCs, angel investors, and innovators from around the … Continue reading “Of Angel Tsunamis, the X Prize, Wireless Power, Mobile Health, & More —XSITE 2010 is Tomorrow”
Washington Companies Raised $36M in May, as Startups and VCs Adjust to Economic Climate
Things might be starting to turn around in the Seattle-area economy, but that doesn’t mean startups are raking in the dough. It’s becoming clear that, with the exception of maybe one or two big deals a month, venture funding for young companies in the Northwest has stabilized to a much lower level than we were … Continue reading “Washington Companies Raised $36M in May, as Startups and VCs Adjust to Economic Climate”
The Rise of Evernote: An Interview with CEO Phil Libin (Part 2)
Yesterday, we ran the first part of a wide-ranging conversation with Phil Libin, the CEO of Mountain View, CA-based Evernote. He talked about how he got recruited to the company two years ago by Esther Dyson, and how he has extended the company’s note-taking software across platforms to build a customer base that’s now 3.2 … Continue reading “The Rise of Evernote: An Interview with CEO Phil Libin (Part 2)”
Predictive Biosciences Pockets $25M Round, Launching First Bladder Cancer Tests
Predictive Biosciences has found a key piece of the puzzle to commercialize its lab tests for bladder cancer. The Lexington, MA-based company has raised $25 million in a Series C round of funding, giving the firm cash to start selling its bladder cancer test and continue research and development of its diagnostics technology, CEO Peter … Continue reading “Predictive Biosciences Pockets $25M Round, Launching First Bladder Cancer Tests”
How to Find Balance in Biotech, Between Owning It All or Finding a Partner
For startup biotech companies, there are many benefits to licensing drug candidates to major drug developers. Partners can be an excellent source of non-dilutive financing, provide the company with validation, and ensure that the drug candidate will have the support it needs to reach the marketplace. However, it is important for biotech entrepreneurs to avoid … Continue reading “How to Find Balance in Biotech, Between Owning It All or Finding a Partner”
MediQuest, Crawling Out of the Bunker, Eagerly Awaits Results From Pivotal Raynaud’s Study
MediQuest Pharmaceuticals has barely made a peep since the FDA declined to approve its drug for Raynaud’s disease back in October 2008. But now the Bothell, WA-based company is starting to poke its head up again as it takes another shot at getting its first drug cleared for sale in the U.S. This week, MediQuest … Continue reading “MediQuest, Crawling Out of the Bunker, Eagerly Awaits Results From Pivotal Raynaud’s Study”