The usual sequence for high-tech entrepreneurs is to study, get a degree, get a job, then start a company and build a product. But a star-studded team of instructors for Linked Data Ventures, a graduate-level class premiering at MIT this fall, hopes to mix that up a bit. They envision the course as a direct … Continue reading “Tim Berners-Lee and Group of Boston Web Gurus Leading New MIT Class to Get Linked Data to Market”
Category: National
Three Ways to Create a More Sustainable Future for Biotechnology
1.Encourage tax incentives and policies that would create more investment in biotech. We should create a tax holiday to allow repatriation of offshore profits that are used to fund R&D in small companies. There are huge profits that are locked up overseas and will never come back unless we provide a means for them to … Continue reading “Three Ways to Create a More Sustainable Future for Biotechnology”
Castlight on a Quest to Create a “Travelocity for Healthcare”
It’s a classic principle in economics: markets don’t work very well when there’s no price transparency. If the airlines refused to quote you a price for a transcontinental ticket and then sent you a bill for an unpredictable amount six months after your flight, you probably wouldn’t fly much. But this is exactly how most … Continue reading “Castlight on a Quest to Create a “Travelocity for Healthcare””
San Diego Fabless Startup Gets $6M to Pursue Smart-Grid Chip
San Diego has a new semiconductor startup, courtesy of venture funding from the Bay Area. San Diego-based Pervasive, a fabless semiconductor design company that is focused on smart grid applications, raised $6 million from investors, according to a recent filing with securities regulators. The startup’s founding president and CEO is Reza Mirkhani, a former director … Continue reading “San Diego Fabless Startup Gets $6M to Pursue Smart-Grid Chip”
Polaris Raises $234M for New Fund, BioScale Pins Down $25M, Clinical Data Nets $30M, & More Boston-Area Deals News
New England-area deal-making news came back with a roar in the last week. We saw headlines of stock sales, myriad stages of venture funding, acquisitions, and a top venture capital firm’s moves to raise money for a new fund. —Etouches, a Ridgefield, CT-based meeting planning company turned software-as-a-service business, said it raised $2.5 million in … Continue reading “Polaris Raises $234M for New Fund, BioScale Pins Down $25M, Clinical Data Nets $30M, & More Boston-Area Deals News”
FoldRx Pharma Finds $29M, Plans to Seek Approval of First Drug in 2010
FoldRx Pharmaceuticals has rallied new and previous investors to raise $29 million in a round of bridge financing, the company reports today. The Cambridge, MA-based biotech firm’s new round included new investors Novo Ventures and Morgenthaler Ventures. Existing investors participating in the round included Alta Partners, Fidelity Biosciences, HealthCare Ventures, Novartis Venture Funds, and TPG … Continue reading “FoldRx Pharma Finds $29M, Plans to Seek Approval of First Drug in 2010”
Xconomy’s Journey Stretches to the ‘Next World’: San Francisco
San Francisco, ever since its first boom time in the Gold Rush era, has exerted a strange and powerful pull on the rest of the world. Oscar Wilde felt it—“It is an odd thing, but every one who disappears is said to be seen at San Francisco,” he wrote in The Picture of Dorian Gray … Continue reading “Xconomy’s Journey Stretches to the ‘Next World’: San Francisco”
Michigan State’s InPore Hopes to Churn Out Better Wind Turbines Through Chemistry
Michigan State University spinout InPore Technologies makes a particle that, when mixed with other materials, makes plastic stronger, lighter, cheaper, and more flame-retardant. Yeah. I know. Doesn’t sound all that sexy. It really is, but we’ll get to that in a moment. First, the reason the East Lansing, MI-based company recently earned a $100,000 paycheck … Continue reading “Michigan State’s InPore Hopes to Churn Out Better Wind Turbines Through Chemistry”
Genzyme Borrows $1B for Stock Buyback
Genzyme is raising cash to buy shares of its own stock, in a move that will mean taking on debt to gain more control of its shares. The Cambridge, MA-based biotech powerhouse (NASDAQ:[[ticker:GENZ]]) reports today that it will sell $1 billion in corporate debt to complete the first part of a $2 billion share buyback … Continue reading “Genzyme Borrows $1B for Stock Buyback”
LS9, Creator of Synthetic Microbes to Make Biofuel, Edges Toward Moment of Truth
Every hot startup has to put up or shut up at some point. This is when it’s time to stop talking about the gee-whiz founding idea and scientific progress. It’s the point when a company needs to prove it can operate a disciplined, sustainable business. The moment is fast approaching for LS9. LS9, the South … Continue reading “LS9, Creator of Synthetic Microbes to Make Biofuel, Edges Toward Moment of Truth”
Qualcomm Bids $1B for Spectrum in India, Software Analytics Target Smart Grid, San Diego Expects Diverse Run of Electric Vehicles, & More San Diego BizTech News
Qualcomm dominated San Diego’s BizTech news last week, with the kickoff of its World Cup coverage on FLO TV, making a $1 billion bid for broadband spectrum in India, and an acquisition in the Netherlands. You can get that and more here. —Qualcomm (NASDAQ: [[ticker:QCOM]]) says it’s the provisional winner after bidding more than $1 billion … Continue reading “Qualcomm Bids $1B for Spectrum in India, Software Analytics Target Smart Grid, San Diego Expects Diverse Run of Electric Vehicles, & More San Diego BizTech News”
Modumetal Closes Series B, TerraPower Pulls In $35M, Vertafore Bought for $1.4B, & More Seattle-Area Deals News
Just because I’m not going to be Seattle editor anymore doesn’t mean I won’t miss these roundups. In the past week, we’ve seen some very interesting deals news from Northwest companies in the fields of energy, materials, and software. Here were a few of the top highlights. —Nuclear-power startup TerraPower, based in Bellevue, WA, raised … Continue reading “Modumetal Closes Series B, TerraPower Pulls In $35M, Vertafore Bought for $1.4B, & More Seattle-Area Deals News”
Invest in Biotech, Or Watch the U.S. Health Innovation Edge Slip Away
Not everyone understands the way that new medical treatments, diagnostics, medicines, therapies and the like are created. It’s a long, expensive process, mostly the realm of scientists and engineers. But anyone who’s ever been concerned about a sick family member, or a loved one succumbing to disease, can appreciate what these scientists and their discoveries … Continue reading “Invest in Biotech, Or Watch the U.S. Health Innovation Edge Slip Away”
Hatching a Lark: An Entrepreneur’s Journey Through the Business Plan Competitions
Startups are constantly using biology jargon—phrases like “incubation,” “entrepreneurial ecosystem,” “symbiotic relationships.” I never fully appreciated these analogies until this year, when my team and I became the sleep-deprived but happy parents of Lark Technologies, Inc., or Lark for short. We have been diligently incubated by many university competitions—kept at a suitable temperature in a … Continue reading “Hatching a Lark: An Entrepreneur’s Journey Through the Business Plan Competitions”
The Rise of Evernote: An Interview with CEO Phil Libin (Part 1)
The paperless office is a pipe dream. But these days, the bulk of the information that knowledge workers encounter every day is born digital, not on paper. As long as there’s an easy way to store and retrieve the important snippets, there’s a diminishing need to print any of it. That’s where companies like Evernote … Continue reading “The Rise of Evernote: An Interview with CEO Phil Libin (Part 1)”
Three University Teams Get Early Stage Funding
A collaborative program coordinated by the San Diego mayor’s office will provide a total of $150,000 in grants to help commercialize cleantech technologies being developed by three research teams at UC San Diego and San Diego State University. The pre-seed funding comes at a time when local VC funding has evaporated, and many local technologists … Continue reading “Three University Teams Get Early Stage Funding”
Theraclone Sciences CEO David Fanning Dies Suddenly
Xconomy has some tragic news to report. David Fanning, the president and CEO of one of Seattle’s more promising biotech startups, Theraclone Sciences, died suddenly this morning, according to an e-mailed statement from its board of directors. The cause of death wasn’t immediately known. “We are heartbroken by this sudden, tragic loss, and our thoughts … Continue reading “Theraclone Sciences CEO David Fanning Dies Suddenly”
TerraPower, Gates and Myhrvold’s Nuclear Play, Nabs $35M from Charles River, Khosla Ventures
What were we just saying about cross-pollinating ideas between Seattle, Boston, and San Francisco? As if to hammer home the point, Bellevue, WA-based nuclear reactor startup TerraPower announced today it has raised $35 million in Series B funding led by Charles River Ventures, based in Waltham, MA. Silicon Valley-based Khosla Ventures also participated in the … Continue reading “TerraPower, Gates and Myhrvold’s Nuclear Play, Nabs $35M from Charles River, Khosla Ventures”
Pfizer Dumps Trubion’s Lead Rheumatoid Arthritis Drug, Keeps Next-Gen Product Alive
Bad news is out this afternoon from Trubion Pharmaceuticals. The Seattle-based biotech company said today New York-based Pfizer, has decided to quit investing in Trubion’s lead drug candidate for rheumatoid arthritis, in favor of a next-generation treatment further behind in clinical trials. Pfizer (NYSE: [[ticker:PFE]]), which inherited its collaboration with Trubion last year through a … Continue reading “Pfizer Dumps Trubion’s Lead Rheumatoid Arthritis Drug, Keeps Next-Gen Product Alive”
Former MIT Architecture Dean Bill Mitchell Dies at 65, Cemented Legacy with Campus Development
(Updated—6/15/10 at 8:35 am Eastern time) Bill Mitchell, an academic expert in urban design who helped oversee the $1 billion development project on MIT’s main campus in Kendall Square, died on June 11 after a long bout with cancer, according to MIT News. He was 65. Mitchell, who joined the MIT faculty in 1992, was … Continue reading “Former MIT Architecture Dean Bill Mitchell Dies at 65, Cemented Legacy with Campus Development”
A Video Introduction to Xconomy and Its New San Francisco Editor
Today Xconomy hits a milestone that we’ve all been working toward for several months—well, for several years, really. We’re finally introducing Xconomy San Francisco, our eye on high-tech innovation and entrepreneurship in the Bay Area. I couldn’t be more excited to be coordinating this effort as the company’s new San Francisco editor. There’s just one … Continue reading “A Video Introduction to Xconomy and Its New San Francisco Editor”
Beringea Invests in Detroit Area Internet Player Startup Livio Radio
Jake Sigal unceremoniously bootstrapped his company out of his guest bedroom in my hometown of Ferndale, MI, about 2 1/2 years ago—tinkering around with the idea of a stand-alone Internet radio. Today, Sigal’s company, Livio Radio, is the recipient of an investment from Beringea, one of Michigan’s largest venture capital firms. I spoke with Sigal … Continue reading “Beringea Invests in Detroit Area Internet Player Startup Livio Radio”
Polaris Venture Partners Captures $233M of $400M Fund
Polaris Venture Partners, a $3 billion-plus venture firm, has found more capital to back technology and life sciences firms. The Waltham, MA-based venture firm has closed on $233.8 million of a planned $400 million for its Polaris Venture Partners VI LP fund, according to an SEC filing. When people talk about the leading venture funds, … Continue reading “Polaris Venture Partners Captures $233M of $400M Fund”
Big Moves for Xconomy Boston (and all of Xconomy) as Wade Heads West and Greg Returns East
It’s official. As we have been telling folks informally, and as reported last week in the Boston Globe, Xconomy chief correspondent Wade Roush is heading west to become editor of Xconomy San Francisco, which officially launched today. Wade, who has been working out of our Kendall Square offices since just after the launch of Xconomy … Continue reading “Big Moves for Xconomy Boston (and all of Xconomy) as Wade Heads West and Greg Returns East”
Genentech’s Souped-Up Herceptin: The Odyssey Toward a More Powerful Breast Cancer Drug
Scientists have been dreaming for decades about drugs that go after cancer cells like heat-seeking missiles. The idea is to destroy the enemy and spare other cells from the collateral damage that so many cancer drugs cause. Now after more than 10 years of sustained effort by one of largest teams ever assembled at Genentech, … Continue reading “Genentech’s Souped-Up Herceptin: The Odyssey Toward a More Powerful Breast Cancer Drug”
Farewell, Seattle: A Changing of the Xconomy Guard, and a New Beginning
For my last official post as Editor of Xconomy Seattle, let me tell you a quick story. It was a warm, cloudy day in June 2008. Two guys walked into an old office on First Hill, but only one guy walked out. That was me. I took the stairs. The other guy was the Qwest … Continue reading “Farewell, Seattle: A Changing of the Xconomy Guard, and a New Beginning”
BrainCells Inc, With Novel Depression Drug, Seeks a Way Forward After Mixed Result
BrainCells Inc. has made its name with a novel approach for treating depression, by stimulating the growth of new neurons. Now the San Diego-based company will have some hard choices to make, since a clinical trial showed its drug doesn’t work any better than a placebo for most people with depression. The results also suggest, … Continue reading “BrainCells Inc, With Novel Depression Drug, Seeks a Way Forward After Mixed Result”
BrightEdge Seeks Order, and Profits, in the Wild West of Search Engine Optimization
There’s not much distance, in the minds of many Web merchants and publishers, between the terms “search engine optimization consultant” and “snake oil salesman.” That’s partly because SEO—the attempt to bring more traffic to a website by improving its ranking in the unpaid section of a search results list—is a messy art with many complex … Continue reading “BrightEdge Seeks Order, and Profits, in the Wild West of Search Engine Optimization”
Xconomy Arrives in San Francisco Bay Area, Telling Stories of Innovation in the Global Capital of Technology and Entrepreneurship
MIT’s Robert Solow won the 1987 Nobel Prize in economics for showing that long-term growth in advanced economies like the United States is not driven so much by capital investment, the pillar of classic economics, as by technological progress. Nearly three years ago, on June 27, 2007, Xconomy began publishing online from Kendall Square, Cambridge, … Continue reading “Xconomy Arrives in San Francisco Bay Area, Telling Stories of Innovation in the Global Capital of Technology and Entrepreneurship”
Cognionics, Wireless Sensor Startup, Wins UCSD Entrepreneur Challenge
He got the beat. Yu “Mike” Chi, a graduate student in electrical engineering at UC San Diego, put a quarter-sized wireless sensor over his suit jacket and displayed the resulting electrocardiogram to win the UCSD Entrepreneur Challenge. The live demonstration on June 2 of technology that Chi had developed for his research thesis (and the … Continue reading “Cognionics, Wireless Sensor Startup, Wins UCSD Entrepreneur Challenge”
Three Ways To Make the Bay Area a More Stable Place for Innovation
1. Focus on real innovation to solve hard problems in needy markets. True innovation is all that matters. Unique products and ideas will always be able to find funding and are less likely to fall victim to boom/bust cycles. Too often, the “incremental, downside protection” or “me too” mentality takes over and you see features … Continue reading “Three Ways To Make the Bay Area a More Stable Place for Innovation”
The Story of Siri, from Birth at SRI to Acquisition by Apple—Virtual Personal Assistants Go Mobile
A couple of years ago, a $999 iPhone app called “I Am Rich” made headlines for being the most expensive item in Apple’s iTunes App Store. (It was the ultimate symbol of conspicuous consumption, doing nothing but displaying a glowing red icon.) But compared to Siri—the “virtual personal assistant” app that can make restaurant reservations, … Continue reading “The Story of Siri, from Birth at SRI to Acquisition by Apple—Virtual Personal Assistants Go Mobile”
Motricity, Riding the Mobile Software Wave, Primed for $85M IPO This Week
Motricity, the Bellevue, WA-based mobile software company, is getting ready to pull the trigger on an initial public offering this week that could net more than $85 million, according to Renaissance Capital. The company is planning to offer 6.75 million new shares at a range of $14 to $16 apiece, according to its most recent … Continue reading “Motricity, Riding the Mobile Software Wave, Primed for $85M IPO This Week”
Genetic Testing Companies in San Diego, Boston, & San Francisco Studying FDA Letters
Five companies that provide genetic testing services—including San Diego’s Illumina (NASDAQ: [[ticker:ILMN]]), 23andMe and Navigenics in the San Francisco Bay Area, and Knome in Cambridge, MA—no doubt spent the weekend parsing letters issued Friday by the FDA. The letters, which were posted on the FDA website and signed by Alberto Gutierrez of the FDA’s office … Continue reading “Genetic Testing Companies in San Diego, Boston, & San Francisco Studying FDA Letters”
2010’s Innovative Dozen: The XSITE Xpo Showcase Companies
[Updated, 6/16/10] We’re excited about our full-day Xconomy Summit on Innovation, Technology, & Entrepreneurship coming up this Thursday, June 17, which will be packed with presenters from all slices of the tech and startup space in the Boston area. And we’ll be capping off the day by bringing you a dozen young companies that we … Continue reading “2010’s Innovative Dozen: The XSITE Xpo Showcase Companies”
Mindbloom, With New Social Game, Finds Niche in Health, Wellness, and “Gamification” of the Web
What sits at the intersection of health and wellness websites, virtual currencies, and “gamification” of the Web? Right now, a Seattle startup called Mindbloom. This is an outfit founded in 2008 by Chris Hewett and Brent Poole. Their mission is to help consumers lead more healthy, balanced and meaningful lives—and do it through a new … Continue reading “Mindbloom, With New Social Game, Finds Niche in Health, Wellness, and “Gamification” of the Web”
Innovations in Smart Energy: Using IT and Other Advances to Curb Runaway Dependence on Fossil Fuels
Almost from the moment that Thomas Edison had the first filament of an idea, the light bulb has been a symbol of invention—and of the Eureka! moment that comes with innovation. But as public awareness of green and clean technologies has gained currency, the incandescent light bulb of yore might just as easily serve as … Continue reading “Innovations in Smart Energy: Using IT and Other Advances to Curb Runaway Dependence on Fossil Fuels”
Qualcomm Bids $1B to Win Broadband Wireless Spectrum in India
San Diego-based Qualcomm (NASDAQ:[[ticker:QCOM]]) says it submitted the winning bid in an auction for India’s broadband wireless access (BWA)—spectrum in the 2.3 gigahertz (GHz) band. In a statement today, the wireless technologies giant said it is the provisional winner of the 20 megahertz (MHz) slot in the telecom circles of four cities—Mumbai, Delhi, Haryan, and … Continue reading “Qualcomm Bids $1B to Win Broadband Wireless Spectrum in India”
WEST Honors Women Leaders in Tech and Life Sciences to Encourage Others in the Fields
Here’s the latest in a string of events this month celebrating entrepreneurship (June is Innovation Month in New England). On Wednesday, Women Entrepreneurs in Science and Technology (WEST for short), a non-profit focused on connecting and assisting women in roles at tech and life sciences companies, held its third Leadership Awards celebration. It spotlighted women … Continue reading “WEST Honors Women Leaders in Tech and Life Sciences to Encourage Others in the Fields”
Tech Tidbits: Bing Gets More Social, Facebook Signs Seattle Lease, Chinese Incubator Calls
It has been a busy week for little bits of technology news, amidst some more prominent deals. Here are three items in particular that caught my eye. The common theme among them, I would say, is the importance of relationship building in business. —Microsoft’s Bing search engine, one year old this month, has been in … Continue reading “Tech Tidbits: Bing Gets More Social, Facebook Signs Seattle Lease, Chinese Incubator Calls”
Biotech Drug Discovery in Seattle: A Look Back
The drug discovery and development process is a difficult one that takes considerable expertise in both the research and business realms. Seattle currently has approximately 103 biotechnology companies, 21 of which are publicly traded. The area also has a number of non-profit research organizations that participate in a variety of efforts to find new medicines. … Continue reading “Biotech Drug Discovery in Seattle: A Look Back”
ZymoGenetics Gets Upstaged, Calistoga Cancer Drug Matures, Cramer Replaces Kraemer, & More Seattle-Area Life Sciences News
This was a big biotech news week with the annual extravaganza for cancer drug developers, the American Society of Clinical Oncology (ASCO). Nobody from Seattle stood out on the world stage this year, although we heard about some people laying important groundwork for future ASCOs. —ZymoGenetics, the granddaddy of Seattle biotech, has had some bad … Continue reading “ZymoGenetics Gets Upstaged, Calistoga Cancer Drug Matures, Cramer Replaces Kraemer, & More Seattle-Area Life Sciences News”
In World Cup Broadcasts to Mobile TV Users, Qualcomm’s FLO TV Misses Bigger Goal—Fervor for World’s Most Popular Sporting Event
[Updated 6/18/10 4:10 pm. See below.] The World Cup soccer tournament that begins today in South Africa ranks as the world’s biggest sporting event in terms of broadcast audience. Alas, if only San Diego-based Qualcomm’s (NASDAQ: [[ticker:QCOM]]) FLO TV could tap a significant fraction of it. FLO TV, the Qualcomm subsidiary that provides the broadcast … Continue reading “In World Cup Broadcasts to Mobile TV Users, Qualcomm’s FLO TV Misses Bigger Goal—Fervor for World’s Most Popular Sporting Event”
Biogen CEO Retires, Genzyme Board Nominates Amgen Vet and Strikes Deal with Icahn, Xconomy Spotlights Life Sciences XSITE Speakers, & More Boston-Area Life Sciences News
We were buzzing this week with news from the boardrooms at big pharma companies, introductions to the life sciences personalities presenting at our XSITE innovation forum, and profiles on emerging health IT companies. —IBM declared medicine authentication company Sproxil the winner of its Boston SmartCamp, a day-long competition for companies working in “smart” technology, which … Continue reading “Biogen CEO Retires, Genzyme Board Nominates Amgen Vet and Strikes Deal with Icahn, Xconomy Spotlights Life Sciences XSITE Speakers, & More Boston-Area Life Sciences News”
Xconomy Welcomes Susan Hunt Stevens to Our Board
A lot of great things have been happening here at Xconomy lately. We have done syndication deals with the Boston Globe and Motley Fool, launched our new Health IT channel, and expanded to Detroit—with another geographic expansion coming up very soon (stay tuned). Today, though, I am extremely pleased to announce that we have expanded … Continue reading “Xconomy Welcomes Susan Hunt Stevens to Our Board”
Your Company Culture Is a Meaningless Platitude
In this envelope, I have your Company Culture. “We work hard, but value work/life balance. We’re a team culture and we believe in individual empowerment. We give back to the community, and have strong ethics. We hire only the best people, support diversity, and promote growth and leadership in our employee ranks. And more than … Continue reading “Your Company Culture Is a Meaningless Platitude”
South Korean Company Moves Lithium-Ion Battery Plant To Michigan
TSC Michigan, a subsidiary of South Korea’s Techno Semichem, which develops components for lithium-ion batteries for electric vehicles, cut the ribbon Wednesday for new U.S. headquarters in Northville Township near Detroit. The plant is expected to create 279 new direct jobs over five years and 1,394 indirect ones. It was another case of tax breaks … Continue reading “South Korean Company Moves Lithium-Ion Battery Plant To Michigan”
Otonomy Pockets $10M For Hearing Loss
Hearing loss and other diseases of the ear affect millions of people, but that hasn’t translated into millions of dollars for biotech entrepreneurs. But that may be changing, as San Diego-based Otonomy has collected an initial round of $10.5 million in venture capital. The financing in Otonomy (Oh-TAWN-uh-me) could be worth as much as $26 … Continue reading “Otonomy Pockets $10M For Hearing Loss”
Syndax’s Breast Cancer Drug Advances, Arena Raises Equity Financing, BeneChill Recruits a CEO, & More San Diego Life Sciences News
The pace of life sciences news slowed in the past week, but we know from experience the lull is temporary. You can catch up on the headlines here. —A raft of studies from provided additional evidence that a urine test from Gen-Probe (NASDAQ: [[ticker:GPRO]]) might help eliminate the need for additional biopsies in men with … Continue reading “Syndax’s Breast Cancer Drug Advances, Arena Raises Equity Financing, BeneChill Recruits a CEO, & More San Diego Life Sciences News”
Quick Hit Cracks Into EA’s NFL Market (But Winning Over Tom Brady Will Take Longer)
Imagine if Tony Hawk owned the rights to all of skateboarding, and he forced everyone who wanted to make a video game about it to call it “rollersmashing” to avoid infringing his trademark. Well, that’s the kind of stranglehold that the National Football League and Electronic Arts have exercised over football since 2004, when the … Continue reading “Quick Hit Cracks Into EA’s NFL Market (But Winning Over Tom Brady Will Take Longer)”