The people who built Cambridge, MA-based Sirtris Pharmaceuticals on the idea of treating diseases of aging, and sold it to GlaxoSmithKline for more than $700 million two years ago, are apparently busy building a new venture capital fund. Christoph Westphal, Michelle Dipp, and Rich Aldrich are listed as co-managers of Longwood Founders Fund, on a … Continue reading “Sirtris Founders Build New Venture Capital Fund, Keep Mum”
Category: National
After Pulling Plug, Veoh Networks’ Dmitry Shapiro Says Litigation “Choked Off Our Oxygen”
In the beginning, San Diego’s Veoh Networks had the support of several prominent VCs, and some of the biggest names in the media business. Venture firms like Boston’s Spark Capital, and names like Michael Eisner, the former Disney titan. After five years, founder Dmitry Shapiro tells me the site had 23 million unique visitors a … Continue reading “After Pulling Plug, Veoh Networks’ Dmitry Shapiro Says Litigation “Choked Off Our Oxygen””
Zafgen Plans Weight-Loss Study, Infinity CEO Perkins Plans for Growth, Boston Scientific Cuts 1000+ Jobs, & More Boston-Area Life Sciences News
This week we’ve got another crop of great interviews with the founders and executives of some of New England’s most fascinating life sciences companies. —Zafgen CEO Tom Hughes filled Luke in on his Cambridge, MA-based startup’s plans to begin human tests of its anti-obesity drug, which the company hopes will be the first drug to … Continue reading “Zafgen Plans Weight-Loss Study, Infinity CEO Perkins Plans for Growth, Boston Scientific Cuts 1000+ Jobs, & More Boston-Area Life Sciences News”
Paragon Lake, Out to Ring in a New Era of Jewelry Customization, Changes Name to Gemvara and Shifts Focus to the Web
Paragon Lake, a jewelry virtualization and customization company, is looking to add a new layer of sparkle to its business. It’s renaming itself Gemvara and revamping its business model to to focus on allowing customers to personalize jewelry pieces directly from their own computers and not from computer stations inside retail stores as it had … Continue reading “Paragon Lake, Out to Ring in a New Era of Jewelry Customization, Changes Name to Gemvara and Shifts Focus to the Web”
The First Rule of FounderDating, and More Takeaways from the Group’s First Seattle Event
The next big startup out of Seattle might have been conceived on the top floor of the Washington Athletic Club this past Tuesday. That’s where 35 carefully selected tech entrepreneurs and business people gathered over drinks and light appetizers for the first-ever FounderDating session in Seattle. The idea, as we reported on a couple weeks … Continue reading “The First Rule of FounderDating, and More Takeaways from the Group’s First Seattle Event”
Why Biomedical Jobs Are Recession Resilient
Biomedical employment has held remarkably steady in San Diego and throughout California, even though other parts of our economy saw steep declines and the highest unemployment levels since the Great Depression. That was the top-line finding of the 2010 California Biomedical Industry Report, just released by the California Healthcare Institute (CHI) and PricewaterhouseCoopers. San Diego … Continue reading “Why Biomedical Jobs Are Recession Resilient”
Why Biotech Innovators Are Beating a Path to Seattle
As the life sciences sector continues to navigate the changing seas of innovation in the new economy, we’ve trained our gaze toward a few beacons. Seattle and the Pacific Northwest have become a light shining on the horizon. In March, the Washington Biotechnology and Biomedical Association and Burrill & Company will together present Life Science … Continue reading “Why Biotech Innovators Are Beating a Path to Seattle”
The $14.99 E-Book: Publishing’s Salvation, Or Just the Last Nail in the Coffin?
Last summer, when the UK National Portrait Gallery and the Wikimedia Foundation got into a kerfuffle over whether the foundation had the right to copy thousands of the gallery’s high-resolution digital images to the Wikimedia site without paying, I wrote that the foundation may have been within its rights, since the original portraits are in … Continue reading “The $14.99 E-Book: Publishing’s Salvation, Or Just the Last Nail in the Coffin?”
RealNetworks Acting CEO Bob Kimball Speaks on Rebuilding the Company, Transforming the Culture, and Spinning Off Music and Games
In today’s RealNetworks earnings call, we heard from president and acting CEO Bob Kimball for the first time. Kimball recently took over from founder Rob Glaser, who stepped down as CEO a month ago. Kimball originally joined RealNetworks (NASDAQ: [[ticker:RNWK]]) in 1999 and served for 10-plus years as the senior executive responsible for all legal … Continue reading “RealNetworks Acting CEO Bob Kimball Speaks on Rebuilding the Company, Transforming the Culture, and Spinning Off Music and Games”
Shutdown Reported at Veoh Networks, Backed by Boston’s Spark Capital and Other VCs
The lights are on, but is anybody left at Veoh Networks? We’re seeing multiple accounts of sweeping layoffs at Veoh, the San Diego-based Internet TV service, with several citing a report by Media Memo’s Peter Kafka, who says a Chapter 7 bankruptcy liquidation is expected soon. I sent a quick e-mail to Veoh CEO Dmitry … Continue reading “Shutdown Reported at Veoh Networks, Backed by Boston’s Spark Capital and Other VCs”
Cadence Pharmaceuticals’ Pain Reliever Handed Second Regulatory Setback
Cadence Pharmaceuticals’ plans to market an intravenous form of acetaminophen received another regulatory setback today. The FDA told the San Diego-based company that it could not approve the drug because of manufacturing problems at a plant where the drug is made. The company’s shares dove nearly nine percent to close at $9.46. Cadence (NASDAQ: [[ticker:CADX]]) … Continue reading “Cadence Pharmaceuticals’ Pain Reliever Handed Second Regulatory Setback”
Envision Solar Reveals Move to Become Public Company
San Diego architect (and Xconomist) Bob Noble says that Envision Solar, the solar development firm that he founded in 2005, will soon begin trading shares over the counter after completing a reverse merger with a dormant public company. He announced the move at a reception held last night for about 75 friends and colleagues, which … Continue reading “Envision Solar Reveals Move to Become Public Company”
CEO Christian Chabot on Tableau Software’s New Consumer App for Making Data Social
“I make the bold claim that this will be of interest to anyone who posts content online,” says Christian Chabot, the co-founder and chief executive of Seattle-based Tableau Software. We were talking recently about his company’s big move into consumer software, which was just announced today. “The target is really bloggers, journalists, writers, critics, researchers, … Continue reading “CEO Christian Chabot on Tableau Software’s New Consumer App for Making Data Social”
CloudSwitch Details Plans to Bridge Corporate Data Centers, Cloud Resources
Doing your business computing on cloud systems owned by companies like Amazon sounds like a great idea, on the surface of it. Who wouldn’t want to rent computing resources just for the time they’re needed, rather than shelling out for expensive on-premises equipment that might sit idle half of the time? The problem is that … Continue reading “CloudSwitch Details Plans to Bridge Corporate Data Centers, Cloud Resources”
Announcing Mass Mobile Month: A Celebration of New England Mobile Innovation in March 2010
Ever wondered how “official” events like National Poetry Month or National Corndog Day or International Talk Like a Pirate Day get started? We did too. Turns out all you have to do is get some people together and make a declaration. So that’s what we’re doing. In recognition of the fact that there’s an unusually … Continue reading “Announcing Mass Mobile Month: A Celebration of New England Mobile Innovation in March 2010”
Halozyme Pursues Anti-Cellulite Drug, Optimer’s Antibiotic Kills C. Difficile Germs, Tragara Pharmaceuticals Raises Funds & More San Diego Life Sciences News
There was a steady flow of drug development and funding news from San Diego’s life sciences industry over the past week. Here are the highlights. —Halozyme Therapeutics (NASDAQ: [[ticker:HALO]]) CFO Kurt Gustafson talked with me about the experimental anti-cellulite drug that company is testing in preclinical studies. —Connect, a non-profit that supports local technology and … Continue reading “Halozyme Pursues Anti-Cellulite Drug, Optimer’s Antibiotic Kills C. Difficile Germs, Tragara Pharmaceuticals Raises Funds & More San Diego Life Sciences News”
Happy 2010: Bay State Startups Ring in the New Year with $355M in January Venture Funding
Apparently, Massachusetts venture investors aren’t like most American consumers in January, when purse strings tighten and spending comes to a halt following the previous month’s holiday shopping excesses. By contrast, they significantly upped their investments in the state’s tech and life sciences startups, investing $355.2 million across 28 equity deals, according to information provided by … Continue reading “Happy 2010: Bay State Startups Ring in the New Year with $355M in January Venture Funding”
SinglePoint Buys M2Junction, Wants to Become Mobile Advertising Leader in India
Bellevue, WA-based SinglePoint, a mobile messaging software company, announced today it has acquired M2Junction, a leading mobile advertising startup based in Hyderabad, India. Financial terms of the deal weren’t given. The move should make it easier for SinglePoint to connect with and sell its services to content publishers, mobile operators, brands, and ad agencies in … Continue reading “SinglePoint Buys M2Junction, Wants to Become Mobile Advertising Leader in India”
Former CombinatoRx CEO Alexis Borisy Lands at Third Rock Ventures, Launches New Startup
Alexis Borisy is back in company-building mode. The former CEO of the drug developer CombinatoRx tells Xconomy that he has joined Third Rock Ventures in Boston as an entrepreneur in residence—and he’s already at the helm of a secretive new life sciences firm called Foundation Medicine. Borisy gave few details on the startup, other than … Continue reading “Former CombinatoRx CEO Alexis Borisy Lands at Third Rock Ventures, Launches New Startup”
Ready, Set, Go Public—The 10 Things You Need to Do Now
The IPO market is open for business. The IPO market window has slammed shut. Which is it? Unless your IPO is pricing in the next week or two, it doesn’t matter. The reality is that IPO planning typically takes six to 12 months. If you hope to go public in the next year-and want to … Continue reading “Ready, Set, Go Public—The 10 Things You Need to Do Now”
A Good Start? WA Companies Raised $57M in January, Up from $22M in Previous Month
Last month, companies based in Washington state raised a total of about $57 million in venture capital, in eight deals. That’s up from about $22 million in December 2009 (four companies), and $44 million (10 companies) in the month before that. The VC stats are courtesy of private company intelligence platform CB Insights. See the … Continue reading “A Good Start? WA Companies Raised $57M in January, Up from $22M in Previous Month”
Boston Beats Seattle for Hospitality, At Least for Heavy Metal Techies
We were really stoked when we received the e-mail from Greg asking if we’d be interested in playing at the Boston Xconomy Battle of the Tech Bands. We had a great time at the Seattle battle, but we really thought that was the end of a fun gig… Traveling out to Boston to play a … Continue reading “Boston Beats Seattle for Hospitality, At Least for Heavy Metal Techies”
Wind Power Industry Convenes in San Diego Amid Howls Over Which Way Stimulus Funds Are Blowing
The movers and shakers in wind power are gathering in San Diego this week for what some renewable energy advocates view as the U.S. industry’s most important annual meeting—the Wind Power Finance & Investment Summit. They may be in for a chilly reception, though, with recent news accounts that foreign energy companies have been reaping … Continue reading “Wind Power Industry Convenes in San Diego Amid Howls Over Which Way Stimulus Funds Are Blowing”
Genzyme and Isis Report Positive Results for Cholesterol-Lowering Drug, Liver Safety Issue Lingers
[Updated 2/10/10 12:15 pm. See below] Genzyme and Isis Pharmaceuticals are making progress in the clinic with their cholesterol-lowering therapy mipomersen, a major potential moneymaker for both firms. Today the companies, which are collaborating on the development of the drug, report that the treatment significantly lowered the cholesterol of patients with a rare condition called … Continue reading “Genzyme and Isis Report Positive Results for Cholesterol-Lowering Drug, Liver Safety Issue Lingers”
Join Xconomy on March 9 as We Come to Grips with the Mad Pace of Change in Mobile Computing
When people started lugging around the first brick-sized, 2G mobile phones in the late 1980s, I said to myself, “Eventually, those will be small enough and cheap enough that everyone will have one.” And what do you know—by 1999 I was carrying around a slim little Nokia candybar phone. When the Enterprise crew started using … Continue reading “Join Xconomy on March 9 as We Come to Grips with the Mad Pace of Change in Mobile Computing”
As Advertisers Expand Online, Covario Adds Web-Based Tools to Measure Their Success
A new generation of corporate marketing executives was in attendance last week when San Diego-based Covario convened its fourth annual corporate partners conference at the downtown Hard Rock Hotel. As a rock band jammed onstage, the gathering crowd included JP Morgan Chase’s vice president of search governance, Amgen’s senior marketing manager for oncology, and the … Continue reading “As Advertisers Expand Online, Covario Adds Web-Based Tools to Measure Their Success”
PatientsLikeMe Growing as Pharma Customers Boost Focus on Patients
There’s a quilt hanging on the wall at PatientsLikeMe, made with different patches of fabric from members of the firm’s online community of multiple sclerosis patients. “We have it hanging in our office because it represents so much of what our site is about—individual experiences that, when pulled together, give you a very powerful collective … Continue reading “PatientsLikeMe Growing as Pharma Customers Boost Focus on Patients”
Halosource Vet Starts Company to Make Socks that Kill Bugs
For years, Halosource was what you might call a solution in search of a problem. It had anti-microbial technology that could theoretically kill viruses and bacteria anywhere and everywhere. But when it came down to making actual commercial products, it took many years to find its niche in purifying water. Now one of the veterans … Continue reading “Halosource Vet Starts Company to Make Socks that Kill Bugs”
ATG Banks $101M, Veracode Collects $12M, & More Boston-Area Deals News
It’s only been a few days since I last rounded up the deals news from New England’s tech and life sciences companies, but there are still a few new transactions to report. —Irvine, CA-based Allergan (NYSE:[[ticker:AGN]]) revealed in an earnings report that it acquired Medford, MA-based biomaterials maker Serica Technologies late last year. Financial terms … Continue reading “ATG Banks $101M, Veracode Collects $12M, & More Boston-Area Deals News”
What’s Your Breakthrough Idea? Let’s Talk About How to Change the World on March 29
Whether you’re an entrepreneur, an investor, a researcher, a corporate executive, a journalist, or a patent attorney, you’ve heard it: an idea that will supposedly change the world. In fact, you probably come across someone trying to pitch you an idea like that every week, if not every day. Maybe you even have one you’re … Continue reading “What’s Your Breakthrough Idea? Let’s Talk About How to Change the World on March 29”
Novatel Claims First LTE Data Call
In what may be a pre-emptive announcement before next week’s GSMA Mobile World Congress in Barcelona, San Diego’s Novatel Wireless (NASDAQ: [[ticker:NVTL]]) says it has successfully made a data transmission call using Long Term Evolution (LTE) 4G technology. LTE is one of several next-generation wireless technology standards that promise increased capacity as cell phone users … Continue reading “Novatel Claims First LTE Data Call”
Battle of the Tech Bands 3: Boston vs. Seattle—A Video and Photo Extravaganza
It’s not every day you get to see three great East Coast rock bands on the same stage with two amazing West Coast bands—so we made a point of documenting our big fundraiser last Thursday, the Battle of the Tech Bands 3: Seattle vs. Boston. Today we want to share the amazing footage and images … Continue reading “Battle of the Tech Bands 3: Boston vs. Seattle—A Video and Photo Extravaganza”
Cheers to the Environment: PurposeEnergy Aims to Make Brewing More Sustainable
When Eric Fitch decided to start his own company a few years back after working on a string of other startups, he knew clean energy was the way to go. “I couldn’t escape the gravity of this renewable energy thing,” he says. He thought the industrial and manufacturing arenas would be the best targets, as … Continue reading “Cheers to the Environment: PurposeEnergy Aims to Make Brewing More Sustainable”
San Diego’s Halozyme Therapeutics Seeks Biotech Cure for Cellulite
Cellulite is the bane of women everywhere. Caused by the irregular tightening of connective fibers between the muscle and skin, cellulite mars the rump and thighs with uneven dimples and bulges, as if a layer of cottage cheese lies just below the skin. Cosmetic creams and lotions can make the skin look smoother by inducing … Continue reading “San Diego’s Halozyme Therapeutics Seeks Biotech Cure for Cellulite”
Infinity’s New CEO, Veteran Dealmaker, Seeks to Deliver on Company’s Early Promise
The story of Infinity Pharmaceuticals can be told through three people. Steve Holtzman got the company started, and raised the money for the company’s proprietary chemistry. Julian Adams brought the focus on cancer drugs. Now it’s up to Adelene Perkins to show that the company’s treatments work, and can be successfully marketed to patients. At … Continue reading “Infinity’s New CEO, Veteran Dealmaker, Seeks to Deliver on Company’s Early Promise”
Amazon Buys Touchco, Infinia Raises More Cash, the Truth About Photobucket, & More Seattle-Area Deals News
Another quiet week for deals in the Northwest as we head into the depths of winter. Nevertheless, there were a few notable deals in software, hardware, and energy. —Kennewick, WA-based Infinia snapped up another $11.5 million in equity financing in a round that could total $75 million over time, as Luke reported. The investors in … Continue reading “Amazon Buys Touchco, Infinia Raises More Cash, the Truth About Photobucket, & More Seattle-Area Deals News”
How to Win Influencers and Friend People: Pursway Raises $6M, Arrives in Boston
If you change your tech startup’s name, you might get a one-line notice from the business press. If you get a prominent firm to invest in your technology, particularly if it’s a sizeable amount or if it’s your first big round of funding, we’ll probably write a paragraph or two. If you move your headquarters … Continue reading “How to Win Influencers and Friend People: Pursway Raises $6M, Arrives in Boston”
SiCortex Co-Founder John Mucci Passes Away
[Updated Feb. 9 and Feb. 10 with comments and funeral service/memorial donations details—see below] Xconomy is very sad to note that John Mucci, the co-founder and former CEO and director of SiCortex, the Maynard, MA-based startup that sought to build a new generation of energy-efficient supercomputers, passed away yesterday of a heart attack, according to … Continue reading “SiCortex Co-Founder John Mucci Passes Away”
Connect Creates Post for Innovation Lobbyist in Washington DC
Connect, the San Diego non-profit that supports local technology and entrepreneurship, says it is opening an office in Washington D.C. “to be part of the process,” and to represent the interests of San Diego’s innovation community. Establishing a lobbyist in Washington was a key part of an initiative that Connect CEO Duane Roth unveiled last … Continue reading “Connect Creates Post for Innovation Lobbyist in Washington DC”
Voyager Capital’s Daniel Ahn on the Firm’s Refocused Clean-IT Strategy
To Voyager Capital managing director Daniel Ahn, “cleantech” is just a buzzword. “Clean IT” is much more precise—and, to the point, it’s something a hardcore techie venture capitalist can get his hands around. Last week, I spoke with Ahn by phone about Voyager’s recent investment in Coulomb Technologies, a Campbell, CA-based startup focused on electric … Continue reading “Voyager Capital’s Daniel Ahn on the Firm’s Refocused Clean-IT Strategy”
PatientSafe Solutions Secures $30M Round, Report Says
PatientSafe Solutions (formerly IntelliDOT) has raised $30 million in a restructuring round of funding, according to a report in VentureWire. The San Diego-based startup, which develops technology that is intended to prevent costly errors in hospitals, is raising the funds as it plans to expand its product offerings. VentureWire reports that the lead backers in … Continue reading “PatientSafe Solutions Secures $30M Round, Report Says”
Cell Therapeutics Shares Fall as FDA Says Lymphoma Drug Has “Substantial” Side Effects
Seattle-based Cell Therapeutics’ experimental drug for non-Hodgkin’s lymphoma was tested in “substantially fewer” patients than planned in a pivotal clinical trial, and the data that it gathered to support its application shows the treatment has “substantial” toxicity to blood cells and the heart, according to an analysis by FDA staff posted online today. The FDA’s … Continue reading “Cell Therapeutics Shares Fall as FDA Says Lymphoma Drug Has “Substantial” Side Effects”
Solace Pharma Closes Boston-Area Office After Pain Treatment Fails in Clinical Trial
Solace Pharmaceuticals has quietly shuttered its office in Cambridge, MA, near the team of biologists and venture capitalists who formed the startup in 2006 to develop new treatments for pain, company CEO Eliot Forster confirmed for Xconomy. The firm, which has raised $15 million in venture capital, is now operating from its remaining office in … Continue reading “Solace Pharma Closes Boston-Area Office After Pain Treatment Fails in Clinical Trial”
Quattrone Predicts VC Shrinkage, ViaSat CEO Says Bandwidth Was Key to Internet Satellite, UCSD Scientists Win Google Grant, & More San Diego BizTech News
With online video consuming more and more bandwidth, ViaSat’s decision to design its own high-capacity satellite for Internet service is looking more and more prescient. We’re beaming that and the rest of the news to you now, so take off your foil hats and tune in. —Frank Quattrone, a former investment banker and controversial figure … Continue reading “Quattrone Predicts VC Shrinkage, ViaSat CEO Says Bandwidth Was Key to Internet Satellite, UCSD Scientists Win Google Grant, & More San Diego BizTech News”
Fallbrook Technologies Spinoff Viryd Raises Another $5M for Wind Power Innovation
Viryd Technologies, a wind turbine technology startup spun out last May by San Diego’s Fallbrook Technologies, has secured a $5 million investment that includes a Chinese maker of automotive components. Viryd was founded near Austin, TX, to integrated Fallbrook’s proprietary transmission technology in power-generating wind turbines for the renewable energy. Unlike a conventional transmission, which … Continue reading “Fallbrook Technologies Spinoff Viryd Raises Another $5M for Wind Power Innovation”
TripAdvisor: The Travel Company That’s Really All About Data
TripAdvisor, which was founded 10 years ago this month, is a study in paradoxes: • The Newton, MA-based company’s family of travel-related websites attracts 35 million unique visitors each month, making it one of the most successful Web properties in the Boston area—yet few people even realize the company is headquartered in New England. • … Continue reading “TripAdvisor: The Travel Company That’s Really All About Data”
Optimer Rises on Takeover Buzz and Clinical Trial Results; Still Faces Business Risks
One of the buzzwords I keep hearing is that biotech investors want companies that are “de-risked.” This is kind of amusing, because the complex nature of biology makes biotech drug development one of the riskiest investments of all. But this craving for security is positive, at least for a while, if you are San Diego-based … Continue reading “Optimer Rises on Takeover Buzz and Clinical Trial Results; Still Faces Business Risks”
Zafgen’s Mysterious Weight Loss Drug Advances Into First Trial for Obese Women
Zafgen arrived on the Boston biotech scene about 18 months ago with blue-chip venture backing, a highly regarded scientist as CEO, and an audacious idea. The Cambridge, MA-based company was developing a powerful new weight loss drug made to work unlike any other treatment in development, by cutting off the blood supply to fat tissue. … Continue reading “Zafgen’s Mysterious Weight Loss Drug Advances Into First Trial for Obese Women”
Massachusetts Business Development Officials Set Up Outpost at Cambridge Innovation Center
I stopped by the Cambridge Innovation Center this afternoon to welcome a special newcomer to the neighborhood (Xconomy’s headquarters is just three blocks away). It was Jason Schupbach, the creative economy director for the Massachusetts Office of Business Development. Schupbach—who is already a familiar face around the local innovation community, of course—is in the vanguard … Continue reading “Massachusetts Business Development Officials Set Up Outpost at Cambridge Innovation Center”
Infinia Raises $11.5M To Make New Solar-Power Generators, Entices Paul Allen Again
[Updated: 2/5/2010, 5:45 pm Pacific, with Infinia CEO comments.] Infinia is raising another truckload of money. The Kennewick, WA-based company, backed by Paul Allen and Vinod Khosla, has snapped up $11.5 million in new equity financing out of a round that could bring in as much as $75 million over time, according to a regulatory … Continue reading “Infinia Raises $11.5M To Make New Solar-Power Generators, Entices Paul Allen Again”