One thing was clear from the moment conference organizers opened the doors for the PAX East gaming expo at the Hynes Convention Center Friday afternoon: they’re going to need a bigger venue next year. Lines to enter the massive meeting, a three-day festival for fans of console and PC video gaming, online gaming, and even … Continue reading “Happy Crowds of Gamers Pack PAX East—Day 1 Report, Plus Photos”
Category: National
Young Scientists, Engineers Strut Their Stuff on Stage Where Sonics Used to Roam
Seattle’s KeyArena was rocking this morning. I walked in around 9 am, and heard the Guns N’ Roses hard rock anthem “Welcome to the Jungle” blaring from the speakers. Referees in pinstriped uniforms monitored every move of the gladiators on display. School mascots led the crowd in clapping, stomping, and cheering. “RO-bots! RO-bots! RO-bots!” You … Continue reading “Young Scientists, Engineers Strut Their Stuff on Stage Where Sonics Used to Roam”
Heavy-Duty Hybrid-Electric Drive Maker Discloses its IPO—In Canada
Oops. In a debut that was largely overlooked by market watchers in San Diego and elsewhere, heavy-duty hybrid-electric drive systems maker ISE Corp. has announced its successful IPO last month on the Toronto Stock Exchange (TSX) under the ticker symbol ISE. The company, based in suburban Poway, CA, says its initial public offering of 3.45 … Continue reading “Heavy-Duty Hybrid-Electric Drive Maker Discloses its IPO—In Canada”
Nine Years in the Making, Seattle BioMed’s Malaria Vaccine On Verge of First Human Trial
In just a few weeks, the folks at Seattle Biomedical Research Institute will start gathering precious bits of evidence on whether they’ve discovered something truly valuable over the past nine years. The global health nonprofit is on the verge of starting its first human clinical trial of a malaria vaccine, which it hopes will someday … Continue reading “Nine Years in the Making, Seattle BioMed’s Malaria Vaccine On Verge of First Human Trial”
The Active Network Stops for Overhaul Following a Decade of Acquisitions
About as far back as I can remember, The Active Network usually has made at least one acquisition by this time of year. But it’s been a silent spring over at Active HQ in San Diego’s Sorrento Valley, where the venture-backed company develops software that customers use to manage recreational sports events, including online registration, … Continue reading “The Active Network Stops for Overhaul Following a Decade of Acquisitions”
Under the Radar in February: Five Northwest Startup Financings You Haven’t Heard About
For startups, it seems no amount of funding is too small. At least that’s what we like to keep in mind when analyzing monthly financings for area companies. February’s list of under-the-radar deals for Northwest startups was half as long as January’s, at just five deals. On the bright side, all five of the February … Continue reading “Under the Radar in February: Five Northwest Startup Financings You Haven’t Heard About”
Biogen Idec Reaches Deal With Icahn, Ironwood CEO Shares IPO Strategy, Luke Maps out the Genetics Institute Diaspora, & More Boston-Area Life Sciences News
This week saw new leadership at a couple of New England’s life sciences companies, some wisdom from one of its newly public companies, and a new truce in one of its long-running power struggles. —Luke tracked down close to 200 alumni of legendary Boston-area biotech firm Genetics Institute, which was acquired in 1996 by Wyeth. … Continue reading “Biogen Idec Reaches Deal With Icahn, Ironwood CEO Shares IPO Strategy, Luke Maps out the Genetics Institute Diaspora, & More Boston-Area Life Sciences News”
Adaptive TCR, a Fred Hutch Spinoff, Nabs $4.5M to Uncover Immune System Secrets
Seattle experts in computer science and immunology are rallying around a new spinoff company from the Fred Hutchinson Cancer Research Center. Seattle-based Adaptive TCR has nailed down a $4.5 million round of angel investment to get up and running, Xconomy has learned. The basic concept is to provide scientists with a high-speed, high-resolution look into … Continue reading “Adaptive TCR, a Fred Hutch Spinoff, Nabs $4.5M to Uncover Immune System Secrets”
When Good Doctors Make Bad Decisions—The View from the Jury Box
On March 2, I reported to Suffolk County Superior Court for jury duty, certain that I’d be let go after my day of service or excused, just like every other time. So it was a bit of a shock to find myself seated, by the end of the day, as Juror No. 14 on a … Continue reading “When Good Doctors Make Bad Decisions—The View from the Jury Box”
$90M Acquisition of PV Powered Signals Uptick in Cleantech M&A Market
[Updated 4:00 pm, 3/25/10. See below.] Bend, OR-based PV Powered, a maker of solar energy components, announced yesterday it is being acquired by Advanced Energy Industries of Fort Collins, CO. The deal will be worth as much as $90 million—$50 million upfront ($35 million in cash and $15 million in Advanced Energy’s common stock), and … Continue reading “$90M Acquisition of PV Powered Signals Uptick in Cleantech M&A Market”
Startup Automaker V-Vehicle Hits Roadblock After Government Rejects $321M Loan Request
Plans by the famed Kleiner Perkins VC firm, Google, T. Boone Pickens, and other investors to launch a new automaker are now hanging by a thread. The Department of Energy has rebuffed San Diego-based V-Vehicle’s request for more than $321 million in loans—throwing into jeopardy the automaker’s ambitious plans to build an “environmentally friendly” car. … Continue reading “Startup Automaker V-Vehicle Hits Roadblock After Government Rejects $321M Loan Request”
KidZui Caps Significant Progress in Difficult Year with $4M in Fresh Funding
KidZui’s founding chairman and CEO Cliff Boro called me from the airport last night to confirm recent reports saying that the San Diego startup, which has been developing a kid-friendly Internet browser, has raised $4 million in additional venture funding. The four-year-old startup launched its KidZui browser (which is a Firefox add-on) in 2008, and … Continue reading “KidZui Caps Significant Progress in Difficult Year with $4M in Fresh Funding”
Genomatica Raises $15M to Build Demo Plant For Sustainable Chemical Production
We’ve been waiting for this one since last summer. San Diego-based Genomatica is announcing today it has raised $15 million in a Series C venture round led by a new investor, TPG Biotech, to build a demonstration plant to make a common industrial chemical through a renewable technique, and to develop a bigger pipeline of … Continue reading “Genomatica Raises $15M to Build Demo Plant For Sustainable Chemical Production”
The Games Begin at PAX East, A Seattle Transplant Uniting Gamers and Developers
The largest gaming expo on the East Coast, this weekend’s PAX East festival, will be preceded by what’s likely to be the biggest party the Boston gaming scene has ever witnessed, tonight at Microsoft’s New England R&D Center in Cambridge, MA. A packed house of 800 guests is expected at the PAX East “Made in … Continue reading “The Games Begin at PAX East, A Seattle Transplant Uniting Gamers and Developers”
FDA Approves Somaxon Insomnia Pill, Torrey Pines Investment Raises Funds, Innovation Economy Shows Signs of Life, & More San Diego Life Sciences News
Regulatory and funding headlines dominated a light week. It’s summarized for you here. —Torrey Pines Investment raised $30 million for a second venture fund that aims to raise a total of $150 million. The money will be used to finance acquisitions and development or co-development of drug candidates from pharmaceutical or biotech companies. —Connect, a … Continue reading “FDA Approves Somaxon Insomnia Pill, Torrey Pines Investment Raises Funds, Innovation Economy Shows Signs of Life, & More San Diego Life Sciences News”
Flying Under the Radar in February: Nine New England Startup Deals Under $1 Million
When it came to raking in venture dollars, things slowed down in Massachusetts in the month of February. Maybe it was the shorter calendar month, the typically frigid and dreary weather, or the fact New Englanders are just antsy for spring. In February Bay State startups pulled in $203 million across 26 financings in the … Continue reading “Flying Under the Radar in February: Nine New England Startup Deals Under $1 Million”
FDA Panel Slams Cell Therapeutics, Oncothyreon Slumps, Biotech’s Healthcare Victory, & More Seattle-Area Life Sciences News
The days are getting longer, spring is in the air, and hope is springing eternal for the Mariners. But a couple of Seattle biotech companies got clobbered this week. —Seattle-based Cell Therapeutics (NASDAQ: [[ticker:CTIC]]) suffered a humiliating public beatdown this week at a long-awaited FDA advisory panel. The FDA committee voted 9-0 against the company’s … Continue reading “FDA Panel Slams Cell Therapeutics, Oncothyreon Slumps, Biotech’s Healthcare Victory, & More Seattle-Area Life Sciences News”
Reinventing Progress Software—Boston’s Next Billion-Dollar Company? Part 2
Yesterday we published the first part of an extended Xconomy interview with Progress Software CEO Richard Reidy and chief technology officer John Bates. While Bedford, MA-based Progress (NASDAQ: [[ticker:PRGS]]) is one of the largest software makers in Massachusetts and was founded just a couple of years after EMC, its profile is nowhere near as high … Continue reading “Reinventing Progress Software—Boston’s Next Billion-Dollar Company? Part 2”
Optify, Emerging from Stealth, Shows Off Software to Measure Sales and Marketing on the Web
Lead generation. B2B marketing. SEO. Fuh fuh fuh. Forget all these buzzwords. You want more customers? Talk to Optify. This Seattle startup, which came out of stealth mode yesterday, doesn’t have all the answers, but it does have what looks to be a pretty useful software product for marketers who want to track, organize, and … Continue reading “Optify, Emerging from Stealth, Shows Off Software to Measure Sales and Marketing on the Web”
Nathan Myhrvold, Lee Hood Forge Longstanding Partnership at Nexus of IT and Biology
Individuals in today’s world, Nathan Myhrvold once observed, are sort of like single B-cells in the immune system who go about their business oblivious to what’s happening in an entire human organism with 1 trillion cells. Biology, Leroy Hood often likes to say, is becoming an information science built on units of A, C, G, … Continue reading “Nathan Myhrvold, Lee Hood Forge Longstanding Partnership at Nexus of IT and Biology”
San Diego’s Xpenser Touts Free Web and Mobile-Based Expense Tracking
At the end of his presentation late yesterday at the DEMO Spring 2010 conference in Palm Desert, CA, Parand Tony Darugar said that when he returns to San Diego following the three-day event, “I will have no receipts in my wallet, and I won’t have to do an expense report.” That’s because he uses Xpenser, … Continue reading “San Diego’s Xpenser Touts Free Web and Mobile-Based Expense Tracking”
FDA Takes Enforcement Action on Genzyme’s Manufacturing
Genzyme’s manufacturing operations are facing further scrutiny in the aftermath of viral contamination found at its Allston Landing plant last June. The FDA informed the Cambridge, MA-based company (NASDAQ:[[ticker:GENZ]]) yesterday that the agency is taking action to make sure that the firm is making its products in compliance with manufacturing regulations, according to the company. … Continue reading “FDA Takes Enforcement Action on Genzyme’s Manufacturing”
Epizyme Entices Broad Institute Player, Robert Gould, to Take Over as CEO
Epizyme, a high-flying startup focused on the hot field of epigenetics, has recruited a new CEO and a new chief dealmaker. Robert Gould started work this week as chief executive of the Cambridge, MA-based biotech, having resigned from a big job at the Broad Institute of MIT and Harvard. Gould has served on the board … Continue reading “Epizyme Entices Broad Institute Player, Robert Gould, to Take Over as CEO”
Facing Job Exodus, San Diego IT Execs Launch Council on Globalization and Competitiveness
IT executives from some of San Diego’s better-known employers, including Amylin Pharmaceuticals, Sony Electronics, and Broadcom are banding together to find new ways to retain local IT jobs and to counter the effects of foreign outsourcing. The formation of a new regional business group, the San Diego-based Industry Council for Competitiveness and Globalization (ICCG), comes … Continue reading “Facing Job Exodus, San Diego IT Execs Launch Council on Globalization and Competitiveness”
Reinventing Progress Software—Boston’s Next Billion-Dollar Company?
Most businesspeople around Boston can give you a thumbnail description of anchor companies like EMC (storage devices and information management) or Nuance (speech recognition) or Boston Scientific (medical devices). But what does Progress Software do, exactly? Considering that it’s the largest software-only company headquartered in Massachusetts—with $500 million in annual revenues, 1,800 employees around the … Continue reading “Reinventing Progress Software—Boston’s Next Billion-Dollar Company?”
Future of Online Advertising Looks Like Video, Mobile…and Microsoft
Last night, we heard from a distinguished panel of executives on the opportunities in online advertising, at a TechFlash event in Seattle. The panel comprised some of the top names in the online ad world: —Aaron Finn, founder and chairman of AdReady —Brian McAndrews, former CEO of aQuantive, managing director at Madrona Venture Group —Jeff … Continue reading “Future of Online Advertising Looks Like Video, Mobile…and Microsoft”
Healthcare Reform Gave Biotech Everything It Wanted, and More
And so we embark on a new era of healthcare—one that may take many years to fully reach its potential for good or ill. But there are two small bits in the Patient Protection and Affordable Care Act that are immediately relevant and timely for the biotechnology industry. One provides tax breaks for smaller biotechnology … Continue reading “Healthcare Reform Gave Biotech Everything It Wanted, and More”
Novell Turns Down Buyout Offer, Alnylam Pulls In $20M from Takeda, $16M Stock Deal Goes to RXi, & More Boston-Area Deals News
It was a lighter deals week for us, but we still saw headlines of funding rounds, partnerships, and stock offerings for companies in Internet, software, and life sciences. —Boston-based Swaptree, an online marketplace for trading books, CDs, DVDs, and video games, grabbed $4.8 million of a planned $6 million offering based in equity, options, and … Continue reading “Novell Turns Down Buyout Offer, Alnylam Pulls In $20M from Takeda, $16M Stock Deal Goes to RXi, & More Boston-Area Deals News”
MaxLinear IPO Prices Stock Above Range at $14 a Share
What began as a modest IPO for Carlsbad, CA-based chipmaker MaxLinear appears to be heating up. In a statement released tonight that MaxLinear increased its initial offering to 6.4 million shares at $14 a share—from 5.4 million shares at a range of $11 to $13 a share. The new stock offering is one of six … Continue reading “MaxLinear IPO Prices Stock Above Range at $14 a Share”
Avvo Follows Amazon and Expedia, Ignition and General Catalyst Back Travel Startup, Gist Goes Networking, & More Seattle-Area Deals News
This was a busy week in the Northwest, with lots of action in consumer software, Internet, mobile, and biotech. The biggest startup deals involved former Expedia executives (see below). —A stealthy Seattle online-travel startup, co-founded by former Expedia execs Rich Barton, Greg Slyngstad, Sunil Shah, and Simon Breakwell, has raised $9.8 million in equity financing. … Continue reading “Avvo Follows Amazon and Expedia, Ignition and General Catalyst Back Travel Startup, Gist Goes Networking, & More Seattle-Area Deals News”
Ironwood Pharma CEO Peter Hecht Breaks Silence on Company’s Big Biotech IPO
Peter Hecht is finally able to speak to the press about Ironwood Pharmaceuticals‘s landmark initial public offering, breaking the silence he was required to keep until last week to comply with quiet-period rules. And the CEO of Cambridge, MA-based Ironwood gave Xconomy a front-row perspective on the most talked about biotech IPO in recent history. … Continue reading “Ironwood Pharma CEO Peter Hecht Breaks Silence on Company’s Big Biotech IPO”
Oncothyreon Stock Plummets as Side Effect Emerges in Cancer Patient, Trials Halted
[Updated: 6 pm Eastern] Bad news out of Seattle-based Oncothyreon (NASDAQ: [[ticker:ONTY]]) today. The company’s partner, the Merck Serono unit of Germany-based Merck KGaA, has halted clinical trials of an immune-boosting treatment for cancer after it saw an unexpected inflammation of the brain in a patient who joined an exploratory trial. Shares of Oncothyreon fell … Continue reading “Oncothyreon Stock Plummets as Side Effect Emerges in Cancer Patient, Trials Halted”
Cell Therapeutics Looks to Pick up the Pieces After FDA Smacks Down Lymphoma Drug
It’s time to talk about survival strategy if you’re Seattle-based Cell Therapeutics. The company (NASDAQ: [[ticker:CTIC]]) suffered a humiliating public beatdown yesterday from an FDA advisory panel, which said unanimously that the company’s lymphoma drug, pixantrone, isn’t ready for the U.S. marketplace. Even though the FDA doesn’t have to make a formal decision on this … Continue reading “Cell Therapeutics Looks to Pick up the Pieces After FDA Smacks Down Lymphoma Drug”
Former Targanta CEO Leuchtenberger Lands New Gig at Rib-X, Another Antibiotic Company
The CEO of a Boston biotech company that crashed a little more than a year ago is getting a second chance in the antibiotic business. Mark Leuchtenberger, 53, the former CEO of Cambridge, MA-based Targanta Therapeutics, has been hired as president, CEO, and a member of the board at New Haven, CT-based Rib-X Pharmaceuticals. The … Continue reading “Former Targanta CEO Leuchtenberger Lands New Gig at Rib-X, Another Antibiotic Company”
Torrey Pines Investment Raises $30 Million Toward $150M Target For Next Fund
Torrey Pines Investment, a San Diego life sciences investment firm with close ties in Russia, has raised $30 million for a second venture fund that is targeting $150 million. Nicolay Savchuk, a Russian-born mathematician and Torrey Pines director, was traveling yesterday and said he was not available to comment on the fund-raising effort, which was … Continue reading “Torrey Pines Investment Raises $30 Million Toward $150M Target For Next Fund”
Bill Gates’s Nuclear Miracle? John Gilleland Says TerraPower Needs Discipline, Not Divine Intervention
John Gilleland’s first day on the job was a little different from most people’s. The nuclear physicist showed up at Intellectual Ventures in Bellevue, WA, and sat down at the conference table with his new boss, CEO Nathan Myhrvold, and another, shall we say prominent, techie. “The guy on my left looked familiar,” Gilleland says. … Continue reading “Bill Gates’s Nuclear Miracle? John Gilleland Says TerraPower Needs Discipline, Not Divine Intervention”
Dodd Bill Could Render Startups Too Small to Succeed
Senator Christopher Dodd (D-Conn) recently introduced sweeping legislation that aims to rein in the excesses that led large financial institutions to become “too big to fail.” Somewhat ironically, it also has the potential, as one commentator put it, to make startups “too small to succeed.” In the rush to prevent future problems, we risk taking … Continue reading “Dodd Bill Could Render Startups Too Small to Succeed”
Calling All Carriers: Mobile Software Startups Question Relevance of CTIA Wireless Expo
The mobile technology extravaganza known as the International CTIA Wireless Conference starts today in Las Vegas. Many thousands will attend. Keynotes will be given by such luminaries as Dan Hesse, the CEO of Sprint Nextel; John Stanton of Western Wireless and McCaw Cellular fame (also former CEO of T-Mobile USA); Randall Stephenson, the CEO of … Continue reading “Calling All Carriers: Mobile Software Startups Question Relevance of CTIA Wireless Expo”
13 Teams, 100 People, 54 Hours: Lessons from Startup Weekend in Seattle
“Exhaustingly awesome.” “The talent in that room is pretty inspiring.” “54 hours…from idea to products I’d pay money for in just 54 hours. Wow.” Those are just a couple comments I gleaned from some of the attendees and guests at the demos held at the Startup Weekend demo finale. I’d second each of these thoughts—you … Continue reading “13 Teams, 100 People, 54 Hours: Lessons from Startup Weekend in Seattle”
Avaak Raises $10M to Expand Market for Wireless Video Monitor
Avaak, the San Diego startup that specializes in ultra low-power wireless video networking technology, says today it has raised $10 million in a Series B round of venture funding led by Qualcomm Ventures, the San Diego chipmaker’s strategic investment arm. Existing investors Trinity Ventures, InterWest Partners, and Leapfrog Ventures joined in the round. The three … Continue reading “Avaak Raises $10M to Expand Market for Wireless Video Monitor”
Searching For Signs of a Comeback in San Diego’s Innovation Economy
San Diego’s innovation economy obviously imploded last year—dragged down by general economic conditions that were hammered by the collapse in Southern California real estate, the breakdown of the capital markets, and a decline in tourism. Now there are signs that things are stabilizing, and might even be gradually improving, according to several reports released last … Continue reading “Searching For Signs of a Comeback in San Diego’s Innovation Economy”
Cell Therapeutics Shares Crash as Lymphoma Drug Gets Shot Down by FDA Panel
[Updated: 4:35 pm Eastern] Cell Therapeutics’ new lymphoma drug failed to win a recommendation today from a panel of cancer experts who advise the FDA. Shares of the company fell by 48 percent on the news. The crash came after FDA’s Oncologic Drugs Advisory Committee voted 9 to 0 today against the Seattle-based company’s application … Continue reading “Cell Therapeutics Shares Crash as Lymphoma Drug Gets Shot Down by FDA Panel”
Icahn Gets One More Seat on Biogen Board
[Updated — 3/22/10, 11:30 am Eastern time] There will be no proxy battle between billionaire Carl Icahn and Biogen Idec this year. Cambridge, MA-based Biogen (NASDAQ:[[ticker:BIIB]]) says this morning it has struck a deal with Icahn in which two new members have been added to Biogen’s board of directors, including one of the candidates Icahn … Continue reading “Icahn Gets One More Seat on Biogen Board”
FDA Cancer Drug Boss Slams Cell Therapeutics Application For Lymphoma Drug
[Updated: 10:05 am Eastern, 3/22/10] The chief of cancer drug reviews at the FDA, Richard Pazdur, laid out a harsh critique this morning of a new drug that Cell Therapeutics is hoping will win approval for the U.S. market. The company’s case for pixantrone (Pixuvri) is being heard this morning in front of the Oncologic … Continue reading “FDA Cancer Drug Boss Slams Cell Therapeutics Application For Lymphoma Drug”
MaxLinear Ready for IPO, Lindbergh Grandson Announces Electric Aircraft Prize, EMN8 Raises $14.4M, & More San Diego BizTech News
We had an interesting mix of high-tech news last week, as several efforts to raise capital took shape, and famed aviator Charles Lindbergh’s grandson announced an electrifying new incentive prize. Read on to learn what it’s all about. —Carlsbad, CA-based chipmaker MaxLinear is expected to go public this week. The company, which specializes in designing … Continue reading “MaxLinear Ready for IPO, Lindbergh Grandson Announces Electric Aircraft Prize, EMN8 Raises $14.4M, & More San Diego BizTech News”
The Genetics Institute Alumni: Where Are They Now?
[Updated: 11:50 am, 8/27/12] Genetics Institute stopped making biotech headlines a long time ago. But almost 15 years after it was acquired, this high-flier from the industry’s first big wave in the 1980s is still having a ripple effect on the Boston biotech scene. It was one of the key companies that recruited, inspired, and … Continue reading “The Genetics Institute Alumni: Where Are They Now?”
“Atmos Inside”: EMC’s Grand Plan to Unify Public and Private Clouds
It may not be a coincidence that the companies most closely associated with the idea of cloud computing, such as Google, Amazon, and Rackspace, are known mainly as Web or Software-as-a-Service companies rather than as makers of actual computer hardware or shrink-wrapped software. After all, the whole idea of the cloud is to outsource your … Continue reading ““Atmos Inside”: EMC’s Grand Plan to Unify Public and Private Clouds”
DigitalScirocco Rolls Out of Stealth, Creates New Marketplace for Web Content
Bruce D’Ambrosio wants to change the way content and services are distributed on the Web—and how people make money from them. His new startup, Seattle-based DigitalScirocco, is emerging from pseudo-stealth mode today at the semi-annual DEMO conference in Palm Desert, CA. The company’s service has been live for a couple of months, but has been … Continue reading “DigitalScirocco Rolls Out of Stealth, Creates New Marketplace for Web Content”
Lindbergh Grandson Launches Incentive Prizes for Advances in Electric Aircraft and Green Aviation
As paragliders and hang gliders swooped overhead, the grandson of famed aviator Charles “Lucky Lindy” Lindbergh chose a stunning panoramic San Diego clifftop to announce the formation of a new incentive prize to recognize advancements in electric aircraft technology. Seattle-area resident Erik Lindbergh says the Lindbergh Electric Aircraft Prize, or LEAP, is intended to stimulate … Continue reading “Lindbergh Grandson Launches Incentive Prizes for Advances in Electric Aircraft and Green Aviation”
Fabless Chipmaker MaxLinear Prepares for Next Week’s Modest IPO
Little did I know when I canceled an interview in September with MaxLinear CEO Kishore Seendripu that my journalistic window of opportunity would irrevocably close—and it probably won’t crack open again until some Grizzly Adams wins the jackpot in this year’s Nenana River Ice Classic. Needless to say, MaxLinear deflected my subsequent attempts to reschedule … Continue reading “Fabless Chipmaker MaxLinear Prepares for Next Week’s Modest IPO”