The FDA added some suspense to one New England biotech firm’s week, while two others reached closure on nice-sized venture deals. —Genetix Pharmaceuticals raised $35 million in a Series B round of venture capital from new investors Third Rock and Genzyme Ventures and return backers Easton Capital, Forbion Capital Partners, and TVM Capital. Ryan took … Continue reading “Genetix Gets $35M for Gene Therapy, FDA Delays Decision on Alkermes/Amylin Drug, MedMinder and Vitality Tackle Medication Compliance, & More Boston-Area Life Sciences News”
Category: National
Avvo, New $10M in Hand, Tears a Page from Expedia, Amazon Playbooks
Anytime a consumer Internet startup raises $10 million, it’s big news, especially around Seattle these days. So you’d think Avvo would want to tell the world about what it’s doing with all that money, which it just raised in a Series C investment round from DAG Ventures, Benchmark Capital, and Ignition Partners. But founder and … Continue reading “Avvo, New $10M in Hand, Tears a Page from Expedia, Amazon Playbooks”
Cell Therapeutics FDA Panel Primer: Take Two
Seattle-based Cell Therapeutics (NASDAQ: [[ticker:CTIC]]) is getting ready, one more time, for its make-or-break moment. The big East Coast snowstorm of mid-February postponed this day of reckoning a few weeks, so the company is now getting ready to make its case in front of a committee of cancer drug experts on Monday, March 22. For … Continue reading “Cell Therapeutics FDA Panel Primer: Take Two”
Why I’ve Abandoned Quicken, But Not Intuit
Somebody at Intuit must have seen the writing on the wall. Last September, the Mountain View, CA, software company, which has been selling PC-based personal finance programs since 1983 via floppy discs, CD-ROMs, and downloads, paid $170 million to buy a two-year-old Web startup called Mint.com. If you believe, as I do, that almost everyone … Continue reading “Why I’ve Abandoned Quicken, But Not Intuit”
Innovation Northwest Wrapup: Alder, Tekmira, Acucela, & Other Emerging Little Biotechs
The best reporters are always gathering string, as we like to say in the journalism trade. It means we gather lots of facts and observations in our notebooks, which might not be news at first glance, but can become part of a contextual mosaic that we can rely on later when news breaks. There wasn’t … Continue reading “Innovation Northwest Wrapup: Alder, Tekmira, Acucela, & Other Emerging Little Biotechs”
DNA Synthesis for Beginners: Ginkgo BioWorks Sells the Scissors and Glue
The founders of Boston-based Ginkgo BioWorks think that assembling synthetic biological systems shouldn’t just be for experienced researchers. So they put together a kit that consists of the “scissors and glue for putting together pieces of DNA,” says co-founder Reshma Shetty. Unlike the electronics industry, which sets standards to ensure compatibility and interoperability, the methods … Continue reading “DNA Synthesis for Beginners: Ginkgo BioWorks Sells the Scissors and Glue”
How the Gist Acquisition of Learn That Name Came About—Old-Fashioned Networking
Between social media, company blogs, and TechCrunch, there is less room for traditional journalism these days. By the time you hear a company’s announcement and actually think about it, talk to the people involved, and have time to write something with any depth, it’s on to the next thing. But I want to take a … Continue reading “How the Gist Acquisition of Learn That Name Came About—Old-Fashioned Networking”
Somaxon Shares Boom on FDA Approval for Insomnia Drug
After three tries, Somaxon Pharmaceuticals has won FDA approval for its insomnia drug. The San Diego-based biotech company said today it has gotten clearance to start selling doxepin (Silenor) in the U.S. for patients with short term and chronic insomnia. The news sent shares of the company (NASDAQ: [[ticker:SOMX]]) up by 60 percent to $6.20 … Continue reading “Somaxon Shares Boom on FDA Approval for Insomnia Drug”
Avvo Raises $10M from New Investor, Looks to Expand Online Legal Services
Seattle-based Avvo, the online legal directory, said today it has raised $10 million in Series C financing, led by new investor DAG Ventures of Palo Alto, CA. Existing investors Benchmark Capital and Ignition Partners also participated in the round. The money will be used to help Avvo expand and enhance its online products. The company … Continue reading “Avvo Raises $10M from New Investor, Looks to Expand Online Legal Services”
Founding CEO Tina “Super” Nova Keeps Genoptix On a Roll
It must be nice to be the CEO of a life sciences company that sells itself. When Tina Nova stepped up to the microphone at the Roth Capital Partners Growth Stock Conference in Laguna Niguel, CA, yesterday, the Genoptix CEO was playing to a nearly full house. Investors and analysts occupied all but two or … Continue reading “Founding CEO Tina “Super” Nova Keeps Genoptix On a Roll”
How to Reconnect at the the Right Time: Entrepreneur’s Personal Project Evolves into an E-mail Reminder Service
When Chris Keller was working full-time at his startup, the online celebrity fantasy league site Fafarazzi.com, he had plenty of e-mails that needed following up on, as most entrepreneurs do. He’d set reminders for himself on his calendar, but found this mechanism wasn’t ideal, since it was tedious to modify every calendar entry to reflect … Continue reading “How to Reconnect at the the Right Time: Entrepreneur’s Personal Project Evolves into an E-mail Reminder Service”
Sequenom Speaks Out, Amylin Receives a Setback, Somaxon Awaits FDA Decision, & More San Diego Life Sciences News
Regulatory news dominated the headlines in the past week. We have it summarized for you here. —Sequenom (NASDAQ: [[ticker:SQMN]]) said a lack of adequate controls, protocols and supervision were to blame for the mishandled data that led the company to scrub its launch of a diagnostic test for Down syndrome. Sequenom shares lost 76 percent … Continue reading “Sequenom Speaks Out, Amylin Receives a Setback, Somaxon Awaits FDA Decision, & More San Diego Life Sciences News”
Boston-Area Tech Tells People to Take Their Meds, Targets Billions in Wasted Healthcare Spending
It’s tough to find an excuse for forgetting to take your medications nowadays. And if you’re thinking of a good excuse right now, chances are that companies and technologists in the Boston area have already addressed it with an information technology invention. Poor adherence to medications has been a bugaboo in the healthcare system for … Continue reading “Boston-Area Tech Tells People to Take Their Meds, Targets Billions in Wasted Healthcare Spending”
Burrill on How Dx Will Beat Rx, VCs Rip Into Pols, Tekmira Strikes Pfizer Deal, & More Seattle-Area Life Sciences News
I was happy to meet many regular readers during a two-day frenzy of networking, reporting, and writing at the Life Sciences Innovation Northwest meeting. Sleep is now moving up the priority list, so my conference wrap up will have to wait a few more hours. But until then, here’s a recap on the last week … Continue reading “Burrill on How Dx Will Beat Rx, VCs Rip Into Pols, Tekmira Strikes Pfizer Deal, & More Seattle-Area Life Sciences News”
ULocate is Where, Now? Exactly
Okay, bad joke in the headline. But there’s some real news behind it. The Boston startup formerly called uLocate, long known mainly as the creator of the GPS-based Where local search app for mobile phones, announced yesterday that it has taken the app’s name as its own. The change “creates a more coherent message for … Continue reading “ULocate is Where, Now? Exactly”
How Will Information Technology Transform Healthcare? Xconomy Seeks Answers May 12
Entrepreneurs have been trying to kill off pen and paper with software for the healthcare industry for at least a decade. But it has really only leaped toward the top of the U.S. political agenda since January 2009, when President Obama said he wanted the nation’s health records to go electronic within five years. A … Continue reading “How Will Information Technology Transform Healthcare? Xconomy Seeks Answers May 12”
VCs On Politics: Officials Who Say They Love Innovation Are Actually Suffocating It
An idea virus swept through Washington DC and state capitals around the U.S. like a pandemic last year. Every elected official in front of a microphone suddenly wanted to spur innovation. Then they started pushing policies that will greatly undermine it. Bob Nelsen, the managing director of Arch Venture Partners, didn’t pull any punches during … Continue reading “VCs On Politics: Officials Who Say They Love Innovation Are Actually Suffocating It”
Obama’s Health IT Chiefs on Tap for Governor Patrick’s Big Health Technology Ball
Massachusetts is going to be the focus of the health IT universe late next month — if it isn’t already. Governor Deval Patrick and his staff have invited power players in both the healthcare and technology fields to Boston in April for a conference that is expected to highlight the state’s fast-growing health IT sector. … Continue reading “Obama’s Health IT Chiefs on Tap for Governor Patrick’s Big Health Technology Ball”
San Diego’s Sequenom Steps Back Into the Spotlight, Sort Of
San Diego-based Sequenom (NASDAQ: [[ticker:SQNM]]) is entering a critical phase in its management of the corporate crisis that erupted in its laboratories last year. It’s stepping back into the spotlight. As a public company, Sequenom doesn’t have much choice. The maker of genetic diagnostic equipment and supplies says in its latest annual report that as … Continue reading “San Diego’s Sequenom Steps Back Into the Spotlight, Sort Of”
U.S. Chief Humanitarian: We Want to Buy Your Health Products For Poor Countries
The guy whose job is to make sure the U.S. is the world’s leading humanitarian showed up yesterday in Seattle to talk to a bunch of venture capitalists and biotech entrepreneurs. If that sounds odd, it should. But this is Seattle, home of the Bill & Melinda Gates Foundation and a cluster of hard-charging social … Continue reading “U.S. Chief Humanitarian: We Want to Buy Your Health Products For Poor Countries”
Somaxon Eagerly Awaits (Another) FDA Ruling on Insomnia Drug
[Updated: 11:45 am Eastern, 3/17/10] Who was it that once said ‘if at first you don’t succeed, try, try again?’ This Friday, San Diego-based Somaxon expects find out from the FDA whether its persistence has paid off, and whether its insomnia drug is finally ready to be cleared for sale on the U.S. market. The … Continue reading “Somaxon Eagerly Awaits (Another) FDA Ruling on Insomnia Drug”
Cozi, Climbing Ranks of Consumer Software, Looks to Deliver on Family-Focused Vision in Mobile Market
As Don Corleone said in The Godfather, “A man who doesn’t spend time with his family can never be a real man.” If that’s true, then a Seattle company called Cozi should help quite a few people become real men. Cozi is a tech startup focused on family-related software for the home. That includes things … Continue reading “Cozi, Climbing Ranks of Consumer Software, Looks to Deliver on Family-Focused Vision in Mobile Market”
Sensata and Aveo Go Public; Genetix, Rhythm, and CorrelSense Get Funding; Pegasystems to Acquire Chordiant; & More Boston-Area Deals News
New England’s life sciences and software companies kept us busy with news of early venture rounds, IPOs, and partnerships. —Battery Ventures, with offices locally in Waltham, MA, announced the close of its ninth fund, at $750 million. Existing limited partners account for about 85 percent of the fund’s investors, said the firm, which also has … Continue reading “Sensata and Aveo Go Public; Genetix, Rhythm, and CorrelSense Get Funding; Pegasystems to Acquire Chordiant; & More Boston-Area Deals News”
San Diego’s EMN8 Raises $14.4M For Self-Service Sales Kiosks
San Diego-based EMN8, which develops self-service, touchscreen displays and systems for use in fast-food restaurants, theaters, theme parks, and other retailers, has ordered up more than $14.4 million in venture funding, according to a recent filing with government regulators. The venture-backed company says it has raised all but $179,550 of a secondary round that began … Continue reading “San Diego’s EMN8 Raises $14.4M For Self-Service Sales Kiosks”
A Chat with Susan Sigl, Incoming CEO of Washington Technology Industry Association
By now, you may have heard that Susan Sigl has been named as the successor to Ken Myer as head of the Washington Technology Industry Association (WTIA). This is one of the largest trade associations in the U.S., representing 1,000 members and some 125,000 employees in the technology sector. This morning, I had a chat … Continue reading “A Chat with Susan Sigl, Incoming CEO of Washington Technology Industry Association”
Adapt or Die, Biotechies: Steve Burrill on the Transformation of the Health Care Business
[Updated: 5:15 pm, 3/17/10] Biotechies, of all people, ought to relate to an old quote often attributed to Charles Darwin. It’s the one about how the strongest and most intelligent aren’t necessarily the ones who survive—it’s the ones who are most adaptable to change. That was the closest thing to a single theme running through … Continue reading “Adapt or Die, Biotechies: Steve Burrill on the Transformation of the Health Care Business”
Ventana Capital’s Tom Gephart Seeks $5 Billion (With a “B”) from Feds to Support VCs
You could say Tom Gephart is “old school” venture capital, which means he started investing in the 1970s when there were no rules. So maybe it shouldn’t seem too surprising when he says he’s working on a proposal to secure $5 billion in federal economic stimulus funding that would be invested in startup companies throughout … Continue reading “Ventana Capital’s Tom Gephart Seeks $5 Billion (With a “B”) from Feds to Support VCs”
Google Apps Teams Up with Local Firms, Evri and Twine Merge, WildTangent Goes Social, & More Seattle-Area Deals News
New deals are in bloom as we await the arrival of spring in the Northwest. In the past week, we’ve seen a modest amount of activity in business software, Internet, gaming, health IT, and biotech. —Seattle-based Presage Biosciences has raised $3.1 million from unnamed individual investors, as Luke reported today. Presage, a spinoff from the … Continue reading “Google Apps Teams Up with Local Firms, Evri and Twine Merge, WildTangent Goes Social, & More Seattle-Area Deals News”
Ship Web 2.0 Features Early, and Don’t Fear User Hatred, Investor Dave McClure Tells Dogpatch Labs Audience
“Ship early, ship buggy,” was the advice San Francisco-based Web 2.0 investor Dave McClure gave to his audience at Cambridge, MA’s Dogpatch Labs last week. “The world is filled with products that shipped too late,” he continued. One example? The online budget-tracking service, Mint.com, a company McClure invests in along with other sites such as … Continue reading “Ship Web 2.0 Features Early, and Don’t Fear User Hatred, Investor Dave McClure Tells Dogpatch Labs Audience”
For Biotech and Pharma, Emerging Markets Offer Great Potential and Require New Strategies, Panelists Say
Emerging markets present an important opportunity for U.S. pharmaceutical and biotechnology firms. This was one of the take-home messages from the annual MIT Sloan BioMedical BioInnovations conference, which drew about 250 people to the Marriot Hotel in Cambridge last Friday. In a panel discussion, Jonathan Fleming, the managing general partner of Oxford Bioscience Partners, said … Continue reading “For Biotech and Pharma, Emerging Markets Offer Great Potential and Require New Strategies, Panelists Say”
Presage, a Hutch Spinoff, Raises $3M From Angels to Boost Cancer Drug Hit Rate
Seattle-based Presage Biosciences has a big dream for a biotech startup—and now it has seed capital to put that dream to the test. Presage, a spinoff from the Fred Hutchinson Cancer Research Center, is announcing today it has raised $3.1 million from angel investors to get the company off the ground at a $5 million … Continue reading “Presage, a Hutch Spinoff, Raises $3M From Angels to Boost Cancer Drug Hit Rate”
Ischemix Faces Moment of Truth with Mid-Stage Heart Drug Trial
Ischemix is facing the biggest hurdle in its 11-year history. The Maynard, MA-based biotech firm is launching the first human study to test the effectiveness of its drug that’s supposed to protect heart tissue from injuries that often occur when blood flow is restored in cardiac surgeries. The drug, called CMX-2043, is the only contender … Continue reading “Ischemix Faces Moment of Truth with Mid-Stage Heart Drug Trial”
From Main Street to Wall Street—10 Things a Startup Should Do to Groom Itself for an Eventual IPO
You’ve got the vision, the core team, and even a little money. You’re prepared to devote enormous time and energy to your new startup. You’re unsure what the future will bring but you want to preserve the possibility of going public some day. Here are 10 things you can do to put your startup on … Continue reading “From Main Street to Wall Street—10 Things a Startup Should Do to Groom Itself for an Eventual IPO”
Sequenom Highlights Its Good News, Keeps Lid on Bad
Sequenom (NASDAQ: [[ticker:SQNM]]) sought to assure shareholders on a variety of fronts today, nearly a year after the San Diego maker of genetic diagnostic tests canceled the launch of its flagship test for Down syndrome due to “employee mishandling of R&D test data and results.” Following an internal investigation, Sequenom announced five months later that … Continue reading “Sequenom Highlights Its Good News, Keeps Lid on Bad”
The Hold Steady: Washington Companies Raised $53.5M in 10 Deals in February
Maybe the world of venture capital has stabilized—albeit at a lower but more sustainable level. Last month, companies in Washington state raised about $53.5 million in 10 venture deals. The stats are almost identical to the $57 million invested in eight deals back in January—and still up from the anemic $22 million invested in just … Continue reading “The Hold Steady: Washington Companies Raised $53.5M in 10 Deals in February”
Diagnosaurus Aims to ID Ailments
Diagnosaurus aims to be a quick reference tool for physicians as well as concerned moms and dads, allowing users to search for diagnoses by symptom, disease, or organ system. Unbound Medicine, the Charlottesville, VA-based firm that provides the app for the iPhone and iPod Touch, says it offers more than 1,000 different diagnoses. Diagnosaurus is … Continue reading “Diagnosaurus Aims to ID Ailments”
MyNetDiary Counts Calories
There’s no shortage of calorie-counting apps, but the one from the online dieting service MyNetDiary is among the most highly rated ones that we could find. 4Technologies, the Cherry Hill, NJ, firm that developed the service, has free versions of the app for the iPhone and BlackBerry that sync to users’ online MyNetDiary accounts (users … Continue reading “MyNetDiary Counts Calories”
PocketCPR: Anyone Know CPR?!
PocketCPR has some solid credentials among several CPR training apps. For one, the iPhone app employs some of the same technology used in an FDA-cleared device, also called PocketCPR, which provides real-time instructions and feedback to assist people while they perform actual CPR. Pawtucket, RI-based Bio-Detek, the maker of PocketCPR products, markets the iPhone app … Continue reading “PocketCPR: Anyone Know CPR?!”
RunKeeper: How Far, How Fast, How Often…
Don’t ever kid yourself about how far you ran again. RunKeeper is an app that has made strides in keeping people honest and informed about the speed and distance of their runs, using the GPS technology on the iPhone 3G. FitnessKeeper, the app’s developer, offers a free, ad-supported version of it and an ad-free version … Continue reading “RunKeeper: How Far, How Fast, How Often…”
The 20-Year Outlook for San Diego Life Sciences: Sold Out? Not Anymore
You spoke, and we listened. Demand has been surging for the event we’re organizing on the 20-year outlook for San Diego’s life sciences cluster. We sold out all 130 tickets with three weeks left before the big event on March 31. While I must say we were pretty darn happy about that, it also meant … Continue reading “The 20-Year Outlook for San Diego Life Sciences: Sold Out? Not Anymore”
Amylin, Alkermes Diabetes Drug Delayed by FDA
[Updated: 8:38 am Eastern, 3/15/10] Amylin Pharmaceuticals and its partners Eli Lilly and Alkermes are going to have to wait a while to celebrate. The FDA has delayed an application from San Diego-based Amylin (NASDAQ: [[ticker:AMLN]]) and Indianapolis-based Eli Lilly to start marketing their new diabetes drug, the first once-weekly shot, as a more convenient … Continue reading “Amylin, Alkermes Diabetes Drug Delayed by FDA”
Massachusetts Startups Held Their Own in February—Upwards of $200 Million Invested in 26 Deals
There was a lot of turmoil in the Bay State last month: tumultuous weather, seasonal lethargy, and school vacations, not to mention the ongoing discussion/celebration/lamentation surrounding newly elected senator Scott Brown, who arrived in Washington to create even more confusion around health care reform. But investors sure kept their focus, as the venture deals kept … Continue reading “Massachusetts Startups Held Their Own in February—Upwards of $200 Million Invested in 26 Deals”
How Semantic and Social Search Are Evolving: Lessons From the Evri-Twine Merger
What’s really happening in the emerging fields of semantic and social Web search? I’ve been thinking about this since last week’s merger of Seattle-based Evri and San Francisco-based Radar Networks, the developer of Twine.com. The real story is not that one Paul Allen-backed company has acquired another, or that any investors got hosed in the … Continue reading “How Semantic and Social Search Are Evolving: Lessons From the Evri-Twine Merger”
San Diego’s Small Cap Stocks Arrive in Force at Roth Capital’s Largest Investor Conference
Call it optimism or a sense of relief, but the atmosphere surrounding Roth Capital’s 22nd annual growth stock conference feels more upbeat and expansive. The invitation-only institutional investor conference begins today at the Ritz Carlton in Dana Point, CA, with a 7 a.m. breakfast panel on investing in China, and runs through mid-afternoon Wednesday. Attendee … Continue reading “San Diego’s Small Cap Stocks Arrive in Force at Roth Capital’s Largest Investor Conference”
Rhythm Pharma Gets $21M A Round to Target Obesity, Diabetes
The potential riches for makers of obesity and diabetes treatments are irresistible to biotech entrepreneurs and investors. Rhythm Pharmaceuticals, a drug developer focused on these multibillion-dollar markets, has closed a $21 million Series A round of funding, according to the firm. Rhythm has been quietly incubating at the Boston offices of MPM Capital. Then on … Continue reading “Rhythm Pharma Gets $21M A Round to Target Obesity, Diabetes”
West Wireless Health Institute Names First CEO, Leap Wireless Trims Operations, MaxLinear Sets Price Range for IPO, & More San Diego BizTech News
A recent Harris poll found that most Americans have never heard of a smart meter and they don’t know what the smart grid is, but these new technologies are coming anyway. We’ve got a lot of cleantech news, which we’ll dispense as efficiently as possible. —Is Leap Wireless, (NASDAQ: [[ticker:LEAP]]) optimizing its operations for a … Continue reading “West Wireless Health Institute Names First CEO, Leap Wireless Trims Operations, MaxLinear Sets Price Range for IPO, & More San Diego BizTech News”
FiatLux Takes 3-D Imaging from Video Games to a PC in Your Doctor’s Office
The same people who cultivated their skills with 3-D imaging in the video game department at Microsoft have a new challenge in mind. They want to crunch some of medicine’s more complex 3-D images into a form that’s easy to use for the average physician and patient with a Windows-based PC. That’s the vision of … Continue reading “FiatLux Takes 3-D Imaging from Video Games to a PC in Your Doctor’s Office”
New E Ink Leader Sees Colorful Future for Company Under Taiwan’s Prime View International
A couple of weeks ago, Xconomy broke the news that Russ Wilcox, co-founder of Cambridge, MA-based E Ink, was leaving the company after eight years as CEO. Shortly after that report I caught up with the organization’s new leader, executive vice president T.H. Peng, who was formerly director of strategic planning at Prime View International … Continue reading “New E Ink Leader Sees Colorful Future for Company Under Taiwan’s Prime View International”
Alliance of Angels Director: 2010 Is “A Great Time To Be Starting Something”
Angels have been in the air lately—especially around the Northwest. Last month, Atlas Accelerator hosted what might have been the largest-ever gathering of active angel investors in Seattle, at its first investor open house. Wings, a new angel group to invest in medical devices and software, has gotten started. Last week, there were prominent angel … Continue reading “Alliance of Angels Director: 2010 Is “A Great Time To Be Starting Something””
Great Expectations Along the Columbia River, as PNNL Reels In Big Energy Problems
There’s a billion-dollar-a-year research operation in the middle of Washington state, with 4,600 staff, working on some of the biggest energy challenges in the world. Yet very few of the locals know a thing about it. And while it hasn’t solved the world’s energy woes, people should start counting on breakthroughs to emerge from there, … Continue reading “Great Expectations Along the Columbia River, as PNNL Reels In Big Energy Problems”