If you live in Seattle and follow technology trends, you know who Brian McAndrews is. If you’re a Boston techie, though, it’s possible that you don’t. Luckily, you have Xconomy to help bridge the gap between East and West. (Bear with me here.) McAndrews is a relatively new managing director at Madrona Venture Group, a … Continue reading “The Man Behind Madrona’s Investment in Searchandise: Lessons in VC, Company-Building, and Selling to Microsoft”
Category: National
At Xconomy Detroit, A New Narrative Begins In A City That Is Always Striving
Welcome to Xconomy Detroit, a continuing chronicle of what this city is “becoming.” The word “Detroit” has always been immersed in meaning far beyond the physical borders of this great and tragic city. At one time, there was no need to define what one meant by the phrase “coming out of Detroit.” It was synonymous … Continue reading “At Xconomy Detroit, A New Narrative Begins In A City That Is Always Striving”
Xconomy Opens in Detroit to Tell a Vital Story of Innovation and Economic Transformation
Even as the Detroit Red Wings seek to battle back in their NHL playoff series against the Phoenix Coyotes, entrepreneurs and innovators in Michigan are working overtime to help the state meet an economic challenge far more imposing than the Coyotes are on ice. That’s how we see it here at Xconomy, and that’s why … Continue reading “Xconomy Opens in Detroit to Tell a Vital Story of Innovation and Economic Transformation”
Five Things Entrepreneurs and Innovators in Michigan Can Do to Reinvigorate Our Regional Economy
1. Reinforce success — Our research and development ranks second in the nation behind Delaware, in part because of the massive amount of research done by the auto industry. In spite of the current problems, this research has allowed Detroit to lead the auto industry for almost 100 years. A great deal of this research … Continue reading “Five Things Entrepreneurs and Innovators in Michigan Can Do to Reinvigorate Our Regional Economy”
Michigan Approves Tax Incentives For Tech Companies
The state of Michigan is continuing its focus on using tax incentives to convince companies to locate here, or stick around, and a few technology companies are among the latest beneficiaries. The Michigan Economic Growth Authority recently approved tax breaks for the following tech companies. Ash Stevens: The Detroit-based life sciences research company will receive … Continue reading “Michigan Approves Tax Incentives For Tech Companies”
Amplyx Pharmaceuticals, Led By Women, Builds Platform for Improving Drugs for HIV, Cancer
Sometimes a company only raises a small sum of money, but it attracts our attention because it involves interesting people and a potentially big idea. That was true last week when I profiled Avelas Biosciences, the latest startup from UCSD Nobel laureate Roger Tsien, and it’s true this week of another small company in San … Continue reading “Amplyx Pharmaceuticals, Led By Women, Builds Platform for Improving Drugs for HIV, Cancer”
Prostate Treatment Developer HistoSonics Gets $11M, U-M Tech Transfer Beams With Pride
Seems everybody is getting what they need out of medical device startup HistoSonics, a University of Michigan spinout that recently collected $11 million in Series A financing. Ken Nisbet, executive director of the U-M Tech Transfer office, got what he calls a “dream come true,” a kind of poster child for everything his office can … Continue reading “Prostate Treatment Developer HistoSonics Gets $11M, U-M Tech Transfer Beams With Pride”
10 Ideas for Strengthening Michigan’s Innovation Economy
1. Support the relevant state-regional-level infrastructures: favorable state capital gains tax, generous support for K-12, university education. 2. Develop professional, competent, adequately funded technology transfer offices in Michigan research universities. Develop some system for lowering cost of start-up capital (low-interest state loans, etc). 3. Pick *one* geographic area (probably Ann Arbor, since young professionals would … Continue reading “10 Ideas for Strengthening Michigan’s Innovation Economy”
Boston’s LED Cluster: Lighting Up Everything From Projectors to the Pru
Boston isn’t Houston as far as energy industry hubs go. But here in New England, there is a lot of innovation with light-emitting diodes, these energy-conserving tools that can be found everywhere from homes to warehouses to urban skyscrapers, and embedded in products like TVs, projectors, medical devices, and software systems. Light-emitting diodes, which are … Continue reading “Boston’s LED Cluster: Lighting Up Everything From Projectors to the Pru”
CombiMatrix Cuts Mukilteo Facility, CEO Resigns, Shifts to Diagnostic Strategy
Big cuts are happening at Mukilteo, WA-based CombiMatrix (NASDAQ: [[ticker:CBMX]]). CEO Amit Kumar is stepping down, expenses are being cut, and the board is betting the future of the company on diagnostics, not on its traditional business of selling genetic analysis instruments to researchers. The company’s statement today is vague, but the news is clearly … Continue reading “CombiMatrix Cuts Mukilteo Facility, CEO Resigns, Shifts to Diagnostic Strategy”
San Diego’s Top 10 Venture Deals: Most of the Money Goes to Life Sciences
[Corrected 4/19/10, 1:00 pm. VentiRx Pharmaceuticals CEO Michael Kamdar says the company raised $25 million, not $12.5 million. See below.] The folks who count every leaf that falls off the money tree for venture-backed startups have graciously provided a breakout of the 10 biggest VC deals in San Diego so far this year. This list … Continue reading “San Diego’s Top 10 Venture Deals: Most of the Money Goes to Life Sciences”
Mobile Meets the Marathon
Everyone around Boston gets into the marathon spirit on Patriot’s Day, even startups. Today, two Boston-based mobile companies are using the event to highlight their technologies. One is Skyhook Wireless, which makes the software that iPhones, Dell notebook computers, and other mobile devices use to determine their locations based on GPS and Wi-Fi signals. Last … Continue reading “Mobile Meets the Marathon”
Startup Automaker Aptera Gets Back in Gear, Streaming Video Companies Vie for Attention, MeLLmo Gets Better at Mobile Graphics, & More San Diego BizTech News
The noble cause of technology innovation is a great race. Just look at Aptera Motors, which appeared to be running out of cash last fall as it laid off much of its workforce. Now—after refueling with $10 million in VC funding—the Vista, CA, carmaker revealed plans to hire 500 people for its new assembly plant … Continue reading “Startup Automaker Aptera Gets Back in Gear, Streaming Video Companies Vie for Attention, MeLLmo Gets Better at Mobile Graphics, & More San Diego BizTech News”
Washington’s Top 10 Venture Deals of the First Quarter—and Some Reactions
The first three months of 2010 are in the books. The dreaded tax day has passed. Time to look back at the top 10 venture capital deals in Washington state so far this year, and see what the trends are. What kinds of companies are getting cash? Who’s unable to attract the loot, and why? … Continue reading “Washington’s Top 10 Venture Deals of the First Quarter—and Some Reactions”
Massachusetts is the Unsung Hotbed for Video Games, MIT Conference Panelists Say
When it comes to the video game industry in Massachusetts, “we have a major brand problem,” says Jason Schupbach, the creative economy industry director of the Massachusetts Department of Business Development. “We have an amazing technology community here, but we don’t have a huge history of consumer-facing brands being based here,” he said at a … Continue reading “Massachusetts is the Unsung Hotbed for Video Games, MIT Conference Panelists Say”
Will Your Doctor Carry an iPad? Xconomy Delves Into the Future of Health IT on May 12
Some of our regular readers have noticed we are on a Health IT kick around here at Xconomy. We launched a new Health IT website earlier this month, and our colleagues in Boston are gearing up for a big event on that theme there on April 26. Not to be outdone, Greg and I are … Continue reading “Will Your Doctor Carry an iPad? Xconomy Delves Into the Future of Health IT on May 12”
Surveys Agree on Rising Tide of VC Activity, But Differ on the Ebb and Flow
After running the early returns on first-quarter venture activity, we got some additional perspective from other sources over the weekend that show an ebb of VC investments in life sciences startups and a surge in energy deals. All three VC surveys—from Dow Jones, MoneyTree, and CB Insights—showed an overall rising tide compared with the first … Continue reading “Surveys Agree on Rising Tide of VC Activity, But Differ on the Ebb and Flow”
American Competitiveness Hinges on Clean Energy
Energy is a $6 trillion global industry, and will likely grow to more than $10 trillion by mid-century. As clean energy replaces carbon-based energy sources around the world, new markets employing millions of people will emerge. Countries like China recognize this opportunity, and are racing decisively ahead. Meanwhile, the United States’ inaction is relegating our … Continue reading “American Competitiveness Hinges on Clean Energy”
Oracle Scoops Up Phase Forward for $685 Million
Phase Forward (NASDAQ: [[ticker:PFWD]]), the Waltham, MA-based maker of software that helps pharmaceutical companies manage clinical trials of new drugs, will be acquired by California database giant Oracle (NASDAQ: [[ticker:ORCL]]), the companies announced today. Phase Forward, which is fetching a price of $685 million or $17 per share, will become part of Oracle’s Health Sciences … Continue reading “Oracle Scoops Up Phase Forward for $685 Million”
Avelas Biosciences, Startup from UCSD Nobel Laureate, Seeks to Spot and Bomb Tumors
Roger Tsien, the UC San Diego professor who won the 2008 Nobel Prize for chemistry, has spent his career creating ways to help scientists look inside living cells, using fluorescent molecular tags that only bind to certain structures. Now his vision is to apply some of what he’s learned to help surgeons remove tumors by … Continue reading “Avelas Biosciences, Startup from UCSD Nobel Laureate, Seeks to Spot and Bomb Tumors”
For General Corporate Purposes: A Roundup of San Diego Startups Raising Capital
Startup companies have been busy raising capital over the past few weeks, which include some time when I was out of the country. In a bid to catch up, I’ve collected these recent deals to help you catch up as well. —Ambit Biosciences disclosed in a regulatory filing that it has raised $12 million out … Continue reading “For General Corporate Purposes: A Roundup of San Diego Startups Raising Capital”
Online Notebook Smackdown: Evernote Vs. Springpad
I’m a digital pack rat, which means I tend to get unreasonably excited about online notekeeping systems. I’m driven by the conviction that there’s got to be one best way to use the Internet to save and retrieve every bit of information I might want to look at later, whether that means Web clippings, important … Continue reading “Online Notebook Smackdown: Evernote Vs. Springpad”
Glympse Rolls Out Facebook Tie-In, Looks to Gain Traction in Location-Aware Social Networks
Question: Where is Glympse? Answer: Getting more socially connected. The Redmond, WA, startup, which makes location-based software for mobile phones, is announcing today it has integrated its service with Facebook. This means consumers can automatically share where they are in real-time with certain friends and contacts in their social network via their iPhone or Android … Continue reading “Glympse Rolls Out Facebook Tie-In, Looks to Gain Traction in Location-Aware Social Networks”
Genzyme Activist Joins Board, Agios Clinches Deal With Celgene, Third Rock Seeks $400M New Fund, & More Boston-Area Life Sciences News
Looks like last week’s flurry of information technology news is long gone. Headlines of partnerships, board appointments, and venture funding in biotech companies made it a busy life sciences news week for us. —MedVentive, a Waltham, MA-based provider of software for tracking medical data, raised a $10 million series C round. MedVentive got part of … Continue reading “Genzyme Activist Joins Board, Agios Clinches Deal With Celgene, Third Rock Seeks $400M New Fund, & More Boston-Area Life Sciences News”
Microsoft Talks Kin Phone, Tightens Twitter Ties, Dominates Human-Computer Interactions—A Redmond Roundup
It has been a busy week indeed in Microsoft land. While the man on the street has been scrambling to file his taxes, the Redmond, WA, company has been making headway in smartphones, real-time search, and other important areas. Let’s get right to the highlights: Microsoft talks up Kin “social phone” This is a phone … Continue reading “Microsoft Talks Kin Phone, Tightens Twitter Ties, Dominates Human-Computer Interactions—A Redmond Roundup”
Bootstrapping or VC? One Company’s Path
I was recently headed down the fund-raising road with one of my technology startup clients, when something strange happened. This client is a company founded by entrepreneurs with accomplished backgrounds. They came up with a novel idea and had developed it over the previous 24 months. Their product had been commercially released, and they were … Continue reading “Bootstrapping or VC? One Company’s Path”
Anadys Shares Climb on Updated Look at Hepatitis C Drug Trial
Anadys Pharmaceuticals (NASDAQ: [[ticker:ANDS]]) is on the roller coaster again. The San Diego-based biotech company’s shares are up 17 percent this morning after it reported on another interim analysis of its hepatitis C clinical trial at a medical meeting in Europe. Researchers found that 72 percent of patients who got Anadys’ experimental drug (ANA598) and … Continue reading “Anadys Shares Climb on Updated Look at Hepatitis C Drug Trial”
Histogen Sees Hair-Raising Results, Avalon Ventures Mulls Raising a New Fund, AtheaDX Closes Funding Round, & More San Diego Life Sciences News
We heard in the past week from key experts who shared their views on the funding climate and the potential of emerging computational technologies. Our recap follows. —Histogen said its Hair Stimulating Complex produced “statistically significant” new hair growth after one year among the 24 balding patients who participated in a clinical trial conducted in … Continue reading “Histogen Sees Hair-Raising Results, Avalon Ventures Mulls Raising a New Fund, AtheaDX Closes Funding Round, & More San Diego Life Sciences News”
Celgene Pumps $130M Upfront into Agios Pharma for Drugs that Starve Cancer Cells
[Updated, 4/15/10, 11:07 am ET—See editor’s note] Hungry cancer cells beware. Cambridge, MA-based Agios Pharmaceuticals has become $130 million richer through its new deal with the venerable drugmaker Celgene to advance drugs intended to starve cancer cells to death, the companies report this morning. Summit, NJ-based Celgene (NASDAQ:[[ticker:CELG]]) is paying big bucks to Agios in … Continue reading “Celgene Pumps $130M Upfront into Agios Pharma for Drugs that Starve Cancer Cells”
Genzyme Adds Whitworth to Board, Agrees to Add One More Director to Activist’s Liking
Genzyme (NASDAQ: [[ticker:GENZ]]]), the Cambridge, MA-based biotech giant, said today it has added Ralph Whitworth of Relational Investors in San Diego to its board, confirming a report from last night by the Wall Street Journal. Whitworth, who oversees a $6 billion fund that is one of Genzyme’s largest shareholders, will now have inside access to … Continue reading “Genzyme Adds Whitworth to Board, Agrees to Add One More Director to Activist’s Liking”
Catabasis Pharmaceuticals Pockets $7.7M out of $40M Venture Round
Catabasis Pharmaceuticals has just raised a load of cash. The Cambridge, MA-based biotech company has raked in an initial $7.7 million in equity financing out of a venture round that could be worth as much as $39.7 million, according to a regulatory filing. The company, which lists an address at 161 First Street in Cambridge, … Continue reading “Catabasis Pharmaceuticals Pockets $7.7M out of $40M Venture Round”
Casual Games Maker WorldWinner Falls into Facebook’s Orbit
When I visited WorldWinner back in March 2008, executives at the Newton, MA-based game developer were excited about the company’s ongoing integration with the Game Show Network (GSN) and by its success attracting huge numbers of people—some 26 million each year—to its tournament-based online casual games. But chief technology officer Michael Enright, answering a question … Continue reading “Casual Games Maker WorldWinner Falls into Facebook’s Orbit”
Dendreon’s Pricing Question, UW’s $300M Stimulus Windfall, Cell Therapeutics Rejected by FDA, & More Seattle-Area Life Sciences News
One of Seattle’s oldest biotech companies was rejected by U.S. drug regulators in the past week, while another is on pins and needles awaiting what most analysts expect will be an imminent FDA approval. —How much will people pay for a new prostate cancer drug that will help men live a median of four months … Continue reading “Dendreon’s Pricing Question, UW’s $300M Stimulus Windfall, Cell Therapeutics Rejected by FDA, & More Seattle-Area Life Sciences News”
MassChallenge Launches $1 Million Global Business Competition to Fuel State’s Innovation Economy
MassChallenge, a Boston-area nonprofit focused on encouraging innovation, is “convinced that entrepreneurship is the answer” for everything to unemployment to the housing crisis to pollution, in the words of CEO and co-founder John Harthorne. To put its money where its mouth is, the organization is unleashing a global startup competition with $1 million available in … Continue reading “MassChallenge Launches $1 Million Global Business Competition to Fuel State’s Innovation Economy”
Aptera Rolls Out Newest Model, Says It’s On the Road to Financial Stability
After lying low for much of the past year, startup automaker Aptera Motors of Vista, CA, said it has secured at least $10 million in VC funding and unveiled the latest version of its three-wheel vehicle—powered entirely by a battery from A123 Systems of Watertown, MA. At a media briefing staged yesterday in the hangar … Continue reading “Aptera Rolls Out Newest Model, Says It’s On the Road to Financial Stability”
Foundation Medicine Raises $25M to Get to the Bottom of Cancer Genomes
The trick to beating cancer could be a single test that shows all known genetic traits in each person’s tumor, and that also matches those results to the best treatments. Boston-based Foundation Medicine reports today that it has raised the first part of a planned $25 million round of Series A venture funding to make … Continue reading “Foundation Medicine Raises $25M to Get to the Bottom of Cancer Genomes”
Genzyme Adds Whitworth to Board, WSJ Says
Genzyme (NASDAQ: [[ticker:GENZ]]), the Cambridge, MA-based biotech giant, has agreed to add Ralph Whitworth, the prominent San Diego activist investor, to its board of directors immediately, according to a report this evening on the Wall Street Journal’s website, which cited a person familiar with the matter. Adding Whitworth could make things more difficult for another … Continue reading “Genzyme Adds Whitworth to Board, WSJ Says”
Concur Goes Convertible, Frazier and Arch Back Achaogen, Lucid Commerce Gets Cash, & More Seattle-Area Deals News
Done your taxes yet? If so, sit back, relax, and enjoy this rundown of the week’s deals in the Northwest. It’s a mix of software and biotech financings, some encouraging (and not so encouraging) regional and national venture capital stats, and a new crop of inspiring startups. —Lucid Commerce, a Seattle provider of business intelligence … Continue reading “Concur Goes Convertible, Frazier and Arch Back Achaogen, Lucid Commerce Gets Cash, & More Seattle-Area Deals News”
For A123, Government Funding Brings Both Job Creation and Innovation, CEO Says
A123Systems president and CEO David Vieau says some investors have questioned whether the company’s aggressive pursuit of federal funding for lithium-ion battery production is a sign that the company doesn’t have a sustainble business without government support. But for A123 (NASDAQ: [[ticker:AONE]]), “it really is about jobs,” Vieau said yesterday at a fireside chat-style discussion … Continue reading “For A123, Government Funding Brings Both Job Creation and Innovation, CEO Says”
Histogen Reports Lasting Effects In Small Study of Baldness Treatment
Few life sciences companies have gotten as much mileage from a pilot trial that enrolled two dozen patients as San Diego’s Histogen, a startup developing a variety of therapies derived from human cells that are grown in the laboratory. On the other hand, we have discovered at Xconomy that the appetite for news about potential … Continue reading “Histogen Reports Lasting Effects In Small Study of Baldness Treatment”
What’s in a Name? Announcing the Next Xconomy Forum: Healthcare in Transition
When we came up with “Healthcare In Transition” as the title of our next Xconomy Forum on April 26 (register here), we were thinking of a way to crystallize in a few words the changes and progress being made in the digitization of healthcare for the benefit of humanity. (There were similar discussions here prior … Continue reading “What’s in a Name? Announcing the Next Xconomy Forum: Healthcare in Transition”
Life Sciences in San Diego Gets Analytical: A Chat with Paul A. Rejto, Head of Computational Biology at Pfizer Oncology
San Diego’s role in computer analytics dates back to at least 1969, with the founding of Science Applications Inc., now SAIC, which used computer models to predict the effects of nuclear blasts for the Government. Today, a life sciences industry that didn’t exist in San Diego 40 years ago is embracing increasingly powerful computational tools … Continue reading “Life Sciences in San Diego Gets Analytical: A Chat with Paul A. Rejto, Head of Computational Biology at Pfizer Oncology”
Difra Thinks Different about House Design and Construction
Wouldn’t it be great to design and build your own personal house, real cheap? It may sound like a dream, but not for much longer. Difra, a Cambridge, MA, company co-founded by graduates of MIT, is working hard to fulfill this ambition. Their idea is to use computer-aided design and manufacturing software (CAD-CAM) to model … Continue reading “Difra Thinks Different about House Design and Construction”
Dendreon’s Big Question: How Much Will People Pay for Provenge?
How much will people in the U.S. pay for a new prostate cancer drug that helps dying men live a few months longer? This is one of the tricky questions Seattle-based Dendreon (NASDAQ: [[ticker:DNDN]]) is wrestling with these days. The decision will have a significant impact on how successful Dendreon is for years to come. … Continue reading “Dendreon’s Big Question: How Much Will People Pay for Provenge?”
NWEN “First Look” Forum Tells Story of Software Vs. Medical Startups: Online Travel Is the Winner
Variety was the theme of the Northwest Entrepreneur Network’s First Look Forum yesterday at the Arctic Club Hotel, a venerable establishment in downtown Seattle. There were a dozen startup companies with a wide array of ideas, each giving a five-minute pitch to an eclectic audience that included investors, entrepreneurship coaches, media, and sponsors. The startups … Continue reading “NWEN “First Look” Forum Tells Story of Software Vs. Medical Startups: Online Travel Is the Winner”
Nokia Acquires Metacarta, Massachusetts Taps EnerNOC and FloDesign, MedVentive Gets Backing from Clarian Health, & More Boston-Area Deals News
After a slower flow of high-tech transactions last week, dealmaking was back with a bang this week. Companies in industries from energy to e-commerce to life sciences scored early venture rounds, partnership deals, and state contracts. —Gemvara, an e-commerce site for jewelry customizations, announced it raised $5.2 million in Series B money, bringing the Lexington, … Continue reading “Nokia Acquires Metacarta, Massachusetts Taps EnerNOC and FloDesign, MedVentive Gets Backing from Clarian Health, & More Boston-Area Deals News”
OLPC’s Negroponte Honored by Lego Group
It seems only fitting that the creators of one of the most popular children’s toys in history would want to honor the creator of the most successful children’s computer in history. Today the Denmark-based Lego Group, of plastic brick fame, announced that it has awarded its $100,000 Lego Prize to Nicholas Negroponte, founder of the … Continue reading “OLPC’s Negroponte Honored by Lego Group”
MicroCHIPS, Nimbit, and Xcellerex Hire New CEOs
There’s the old saying that things happen in threes. That’s true this week in Boston, where three tech companies have announced new CEOs. Two of the moves came in the life science sector, at MicroCHIPS and Xcellerex, and the third involved online music marketing site Nimbit. Read below for the details on each company’s new … Continue reading “MicroCHIPS, Nimbit, and Xcellerex Hire New CEOs”
Beaming Power to UAVs, Space Elevators, and Someday, Earth: The LaserMotive Plan
Think it’s possible to shoot down a swarm of buzzing mosquitoes in mid-air? Or maybe you want to power up a remote flying vehicle? Tom Nugent is your man. The Seattle-area entrepreneur just might be the most versatile guy with a laser you’ve ever met. Yes, a laser. Until recently, Nugent worked in the laboratory … Continue reading “Beaming Power to UAVs, Space Elevators, and Someday, Earth: The LaserMotive Plan”
MeLLmo’s Roambi Business Visualization App Comes to iPad, Links to More Data Sources
If you want your company to buy you an iPad or an iPhone, here’s a tip. Get someone from MeLLmo to stop by and show its data visualization software to your firm’s CEO, CFO, or COO. The Del Mar, CA-based startup’s mobile business app, called Roambi, plugs into enterprise business-intelligence systems and creates interactive charts … Continue reading “MeLLmo’s Roambi Business Visualization App Comes to iPad, Links to More Data Sources”