Seattle biotechies must have gorged on too much turkey in the holiday week, because the news was slow, slow, slow this week. But there were a few interesting things to say about medical devices. —Tom Clement, the founder of Kirkland, WA-based Pathway Medical Technologies, told me that after six months of scouting around the University … Continue reading “Pathway Founder Gets Startup Itch, Ekos Endures Tough Year, EndoGastric Bags $21.5M, & More Seattle-Area Life Sciences News”
Category: National
Vertex Raises $443M in Yet Another Monster Stock Sale
Investors apparently have an endless appetite for shares of Vertex Pharmaceuticals, so the company is taking advantage of this good fortune to raise another mountain of cash. The Cambridge, MA-based biotech said its latest stock sale this year has raised $443 million. The company (NASDAQ: [[ticker:VRTX]]) fattened up its cash hoard by selling 11.5 million … Continue reading “Vertex Raises $443M in Yet Another Monster Stock Sale”
Startups Affiliated with Cambridge Innovation Center Pass $1 Billion in Venture Funding
Tim Rowe says he has happy news to share at the Cambridge Innovation Center’s 10th anniversary party tomorrow night (see main story). The founder and CEO of the rental office facility has long had a spreadsheet showing how much money venture capital firms have invested in CIC companies, and last month, he says, the total … Continue reading “Startups Affiliated with Cambridge Innovation Center Pass $1 Billion in Venture Funding”
Cambridge Innovation Center Turns 10; Looking Inside a Landmark for Boston-Area Entrepreneurs
Tim Rowe, the founder of the Cambridge Innovation Center, may be the only CEO in the whole building who doesn’t have his own desk. To be accurate, he’s got half of one: he shares it with his assistant Midori Williams. But he probably won’t have it for long, as he and Williams happily pick up … Continue reading “Cambridge Innovation Center Turns 10; Looking Inside a Landmark for Boston-Area Entrepreneurs”
FDA Approves Over-the-Counter Version of Santarus Drug, Pioneer of Algal Biofuels Says Algae Will Make Drugs Too, Receptos Gets $25M, & More San Diego Life Sciences News
San Diego’s biotech news picked up in pace following the Thanksgiving holiday, with Phenomix announcing a major partnership, Santarus benefitting from FDA approval of its over-the-counter heartburn drug, and Receptos getting a VC infusion. Our Xconomy post-holiday news feast is ready, so come and get it: —After forming a partnership last year with New York-based … Continue reading “FDA Approves Over-the-Counter Version of Santarus Drug, Pioneer of Algal Biofuels Says Algae Will Make Drugs Too, Receptos Gets $25M, & More San Diego Life Sciences News”
From Swiss Army Knives to Smoking Cigarettes: Google, Bing, and Startups Talk Future of Search
The World Wide Web is an overwhelming collection of information, especially when one is faced with the task of sifting through it—and it’s only expanding. In the last few years, the induction of social media into the online realm has added more content to the Internet than that of the decades preceding it combined. Picture … Continue reading “From Swiss Army Knives to Smoking Cigarettes: Google, Bing, and Startups Talk Future of Search”
Vulcan Backs Bizo, EndoGastric Closes Financing, Datacastle Raises $3M, & More Seattle-Area Deals News
It was a pretty quiet week for deals in the Northwest, what with the Thanksgiving holiday. But there was some activity in the software, Internet, and medical device sectors. —Paul Allen’s Vulcan Capital participated in a $6 million equity funding round for San Francisco-based Bizo, an online ad network and audience targeting platform. Bessemer Venture … Continue reading “Vulcan Backs Bizo, EndoGastric Closes Financing, Datacastle Raises $3M, & More Seattle-Area Deals News”
Phenomix Strikes European Partnership for Diabetes Drug, Potentially Worth $163M
Phenomix has found a partner to help it develop a diabetes drug in Europe and certain other countries. The San Diego-based biotech company said today that the Italy-based Chiesi Farmaceutici has agreed to pay $28 million in near-term cash and equity payments, and a total of as much as $163 million if the Phenomix treatment … Continue reading “Phenomix Strikes European Partnership for Diabetes Drug, Potentially Worth $163M”
The State of High-Tech and Life Sciences Executive Compensation Quiz: Answers and A Bit of Perspective on What You Can Expect in 2010
The end of the year is a time when compensation is on a lot of people’s minds—particularly with company committees busy working to set executive salary, bonus, and equity compensation for the coming year. Last week, I gauged Xconomy readers’ thoughts on the subject with a short quiz on tech- and life-sciences-executive compensation. The questions … Continue reading “The State of High-Tech and Life Sciences Executive Compensation Quiz: Answers and A Bit of Perspective on What You Can Expect in 2010”
Taris Biomedical, MIT Spinoff With Bladder Drug Device, Leaps Ahead To Mid-Stage Trial
Taris Biomedical played its cards close to the vest in its early days, but it was apparently moving with great speed. The Cambridge, MA-based biotech company, a startup from the MIT labs of Michael Cima and Bob Langer, left stealth mode about six months ago and is already bounding ahead to mid-stage clinical trials. Taris … Continue reading “Taris Biomedical, MIT Spinoff With Bladder Drug Device, Leaps Ahead To Mid-Stage Trial”
A Sapphire Energy Co-Founder Sees Solutions in Algae for Drugs as Well as Biofuels
The potential of algae as a clean energy source has been generating a lot of entrepreneurial excitement in San Diego. At last count, 10 local companies are busy working on technologies focused on transforming ordinary pond scum into “green crude” one day capable of powering aircraft, trucks, automobiles, and even utility plants—and easing the world’s … Continue reading “A Sapphire Energy Co-Founder Sees Solutions in Algae for Drugs as Well as Biofuels”
Swype, Following T9 Model, Releases Text Input Software on Samsung Phone
It’s been seven years in the making, but we might be looking at the biggest new text-input technology for mobile phones since T9 predictive texting. At least that’s what Swype is hoping. The Seattle startup is releasing its software for the first time today, on the Samsung Omnia II, an advanced smartphone with a touch … Continue reading “Swype, Following T9 Model, Releases Text Input Software on Samsung Phone”
Forma Gets a $25.5M Fix, Novartis Bids Idera Adieu, Alnylam CEO Talks Strategy, & More Boston-Area Life Sciences News
Somewhere between the turkey prep and the post-pie catatonia, folks at New England’s life sciences companies managed to make some news. —Idera Pharmaceuticals (NASDAQ:[[ticker:IDRA]]), a developer of DNA- and RNA-based drugs, announced that Swiss drug giant Novartis will end its four-year-old collaboration with the Cambridge, MA-based firm in February. Idera still has active collaborations with … Continue reading “Forma Gets a $25.5M Fix, Novartis Bids Idera Adieu, Alnylam CEO Talks Strategy, & More Boston-Area Life Sciences News”
Rested and Ready, Pathway Medical Founder Scouts UW, Gets Itch to Start Something New
One of the Northwest’s leading medical device entrepreneurs has had a chance to rest for the first time in 20 years, do a little scuba diving, and sniff around the University of Washington for the next big idea. Now Tom Clement says he’s getting the “itch” to get back to work. “I’m anxious to get … Continue reading “Rested and Ready, Pathway Medical Founder Scouts UW, Gets Itch to Start Something New”
Quick Take: Novartis Vaccine Chief Andrin Oswald on Swine Flu and Vaccine Business
It’s been a year since Andrin Oswald took over as CEO of Novartis Vaccines and Diagnostics, the 5th-largest vaccine business in the world, headquartered right here in Cambridge, MA. I met up with Oswald before he gave a keynote speech at a recent MIT Enterprise Forum event, and he took a few minutes to give … Continue reading “Quick Take: Novartis Vaccine Chief Andrin Oswald on Swine Flu and Vaccine Business”
San Diego’s Extrabux, With a Boost From Old-Fashioned TV, Sees Online Shopping Traffic Skyrocket
Noah Auerhahn and Jeff Nobbs knew they were onto a good business idea last year, when they won the fourth annual USC technology plan competition. They were undergraduates after all, competing in a contest that was open to all graduate students, faculty and researchers on campus. Nevertheless, Auerhahn tells me that what happened yesterday was … Continue reading “San Diego’s Extrabux, With a Boost From Old-Fashioned TV, Sees Online Shopping Traffic Skyrocket”
Dyax Shares Rocket as FDA Clears Treatment for Rare Inflammatory Disease
Dyax got some good news late today that sent shares booming. The Cambridge, MA-based company (NASDAQ: [[ticker:DYAX]]) said it has received FDA clearance to start selling a drug that treats hereditary angioedema, a rare genetic condition in which people get rapid attacks of pain and swelling in the face, hands, feet, and lungs. The company … Continue reading “Dyax Shares Rocket as FDA Clears Treatment for Rare Inflammatory Disease”
Santarus Shares Boom on FDA Approval of Over-the-Counter Heartburn Drug
San Diego-based Santarus (NASDAQ: [[ticker:SNTS]]) got some good news late today. The company’s partner, the Schering-Plough unit of Merck, has gotten clearance from the FDA to start selling an over-the-counter version of Santarus’ fast-acting heartburn drug. U.S. drug regulators gave the green light for capsules of omeprazole (Zegerid OTC) in a 20 milligram dose, a … Continue reading “Santarus Shares Boom on FDA Approval of Over-the-Counter Heartburn Drug”
The Future of Search Photo Gallery
We spend a lot of time at Xconomy reporting, analyzing, writing, and editing stories about technology in the Northwest, but when it comes to photography—well, we can’t be experts at everything. So Luke asked (politely) whether his lovely and talented wife, Tracy Cutchlow, might want to take some photos for our “Future of Search and … Continue reading “The Future of Search Photo Gallery”
Xconomy is Growing; You Could Be Part of It
In the two and a half years that we’ve been live, Xconomy has been lucky to have some of the world’s best innovation journalists covering some of the nation’s most fascinating innovation hubs. But we’re well aware that there’s important tech and life sciences news happening beyond the borders of Boston, Seattle, and San Diego, … Continue reading “Xconomy is Growing; You Could Be Part of It”
Genzyme Resumes Shipments of Gaucher’s Drug from Allston Plant
Genzyme (NASDAQ:[[ticker:GENZ]]) says today that it has begun shipments of its best-selling drug for Gaucher’s disease made at its plant in the Allston neighborhood of Boston. There have been shortages of the drug since the firm halted production at the Allston plant in June, when viral contamination was discovered there. The Cambridge, MA-based biotech is … Continue reading “Genzyme Resumes Shipments of Gaucher’s Drug from Allston Plant”
Michael Robertson on Gizmo5, and How the World Has Changed for Internet Startups
Just a few weeks ago, Michael Robertson sold his Web-based phone service venture, Gizmo5, to Google for a reported $30 million. So he was in a good mood when we sat down yesterday to talk about what might be next for San Diego’s patriarch of Internet startups. “One of my goals for the year was … Continue reading “Michael Robertson on Gizmo5, and How the World Has Changed for Internet Startups”
In the Venture Business, Small Is Beautiful, Charles River Ventures Argues—And Funds Are About to Get Much Smaller
The average return on venture capital investments for the year ending June 30, 2009, was -17 percent, according to figures released by the National Venture Capital Association in October. The 3-year return was +1.3 percent, the 5-year return was +5.7 percent, and the 10-year return was +14.3 percent. Over all of these time frames, venture … Continue reading “In the Venture Business, Small Is Beautiful, Charles River Ventures Argues—And Funds Are About to Get Much Smaller”
Forma Therapeutics Snags $25.5M Venture Round, Punctuating Startup’s Breakout Year
Anybody drawing up a list of New England’s biotech companies that really broke through in 2009 would have to consider Forma Therapeutics. The Cambridge, MA-based startup has nailed down a $25.5 million Series B venture round, which means it has now raised a total of more than $50 million this year to support what it … Continue reading “Forma Therapeutics Snags $25.5M Venture Round, Punctuating Startup’s Breakout Year”
San Diego Biotech Leaders on the Future of Stem Cells, MicroRNA, & Cancer Biology
San Diego has some of the most intriguing biotech companies in the world, and one of the things I’ve noticed is that they aren’t all packed in one neighborhood where everyone can mingle. So we at Xconomy are thrilled that we are about two weeks away from bringing together some of the brightest biotech minds … Continue reading “San Diego Biotech Leaders on the Future of Stem Cells, MicroRNA, & Cancer Biology”
Tech Executive Pay Raises Way Down, New Study Says
Technology executive pay raises in 2009 have taken their biggest nosedive of the past decade, according to a new compensation study. The study, which polled privately held firms from around the U.S., indicates that the current economic downturn has had a more drastic impact on executive pay than the period after the dot-com bubble burst. … Continue reading “Tech Executive Pay Raises Way Down, New Study Says”
Three Lessons on Startups, As Told By Ron Wiener From Earth Class Mail
Ron Wiener is best known these days as the founding CEO (now chairman) of Earth Class Mail, a Seattle-based software firm that digitizes postal mail for companies. He is a successful and outspoken entrepreneur who has run five investor-backed tech companies in the past 20 years—besides Earth Class Mail, he was previously CEO of Azure … Continue reading “Three Lessons on Startups, As Told By Ron Wiener From Earth Class Mail”
Guardium Head Count Could Grow Under IBM Ownership, Big Blue Exec Says
Guardium, the Waltham, MA-based provider of database security software, is the latest Massachusetts company to be gobbled up by technology giant IBM, according to the companies. And Big Blue could grow the company here in the Bay State as it aims to increase its revenue from sales of software. Armonk, NY-based IBM (NYSE:[[ticker:IBM]]) announced today … Continue reading “Guardium Head Count Could Grow Under IBM Ownership, Big Blue Exec Says”
E-Retail Traffic Is Way Up This Holiday Season, Akamai Says—But Don’t Get Too Excited
Holiday shopping traffic on retail websites is up dramatically this year over 2008 levels, according to Cambridge, MA-based Akamai. The company’s Retail Net Usage Index—which includes a highly representative sample of companies engaged in e-commerce—hit a peak level on “Black Friday,” the day after Thanksgiving, that was 35 percent higher than traffic for the same … Continue reading “E-Retail Traffic Is Way Up This Holiday Season, Akamai Says—But Don’t Get Too Excited”
Future of Search Is Sold Out; See You Tonight
Tonight’s Xconomy Forum on The Future of Search and Information Discovery is now officially sold out. Thanks for all the interest—it’s going to be a great evening, with some really great networking. For those of you who grabbed tickets before they ran out, registration starts at 5:30 pm at the Walker-Ames Room in Kane Hall … Continue reading “Future of Search Is Sold Out; See You Tonight”
Founder Institute Ranks San Diego Lowest, Seattle Highest in Likelihood for Entrepreneurial Success
As if it wasn’t already hard enough to be an entrepreneur in San Diego. A recent survey suggests that San Diego entrepreneurs are the least likely to succeed in their startup ventures—while Seattle’s entrepreneurs are the most likely to break through to the other side. The survey, which was first reported by VentureBeat last week, … Continue reading “Founder Institute Ranks San Diego Lowest, Seattle Highest in Likelihood for Entrepreneurial Success”
FitnessKeeper Chases Down $400,000 in Seed Funding
FitnessKeeper, the Boston startup behind the GPS-based RunKeeper iPhone application used by thousands of runners to track and share their outings, has raised its first round of seed funding from a group of local angel and venture investors. It’s a small amount of capital by the standards of many technology startups—just $400,000—but FitnessKeeper founder and … Continue reading “FitnessKeeper Chases Down $400,000 in Seed Funding”
Revolutionary Angels Defends Business Plan Competition Amidst Widespread Criticism
A post last week on the New York Times’ “You’re the Boss” small business blog examined the phenomenon of business plan competitions with high entry fees, with the focus largely on Revolutionary Angels, a Cambridge, MA-based competition we profiled in early October. The post questioned whether the $4,995 entry fee that Revolutionary Angels charges companies … Continue reading “Revolutionary Angels Defends Business Plan Competition Amidst Widespread Criticism”
Local Startup Culture Tied to Bay Area VCs, AirHop Looks to Next-Generation Wireless, SDG&E Strikes Out in Bid for Grant, & More San Diego BizTech News
For a week shortened by the Thanksgiving holiday, we still had lots of news about venture funding deals, views on startup failures and San Diego’s innovation culture, and Qualcomm getting a reprieve from European regulators. Get our rundown of the local tech news you need to know: —I conducted an informal poll on local attitudes … Continue reading “Local Startup Culture Tied to Bay Area VCs, AirHop Looks to Next-Generation Wireless, SDG&E Strikes Out in Bid for Grant, & More San Diego BizTech News”
Ekos, Enduring Tough Year for Devices, Sticks With Goal to Break Even Next Year
Ekos is on a quest to change the way doctors think about how to best dissolve blood clots. Like a lot of bold visions, this hasn’t happened overnight or without some bumps along the way. But even in a very tough year for new medical devices, the Bothell, WA-based ultrasound company has been gradually increasing … Continue reading “Ekos, Enduring Tough Year for Devices, Sticks With Goal to Break Even Next Year”
A Smarter War on Cancer
[Editor’s Note: this editorial was co-authored by Jay (Marty) Tenenbaum of CollabRx and Leroy Hood of the Institute for Systems Biology.] One of society’s great challenges is to advance health care while deflecting its rising cost. Achieving this objective requires that we capitalize upon the immense potential of personalized medicine. Cancer is a case in … Continue reading “A Smarter War on Cancer”
Hyper-Analytical “Insanity” Cripples Drug R&D, Says Alnylam CEO John Maraganore
There’s one thing drug makers love to use to figure out which drugs to invest in: spreadsheets. Not Alnylam Pharmaceuticals, though. Estimates of future cash flows and other financial analysis tools are one of the big reasons why drugmakers spend so much on R&D that creates so few important drugs, says CEO John Maraganore. “I … Continue reading “Hyper-Analytical “Insanity” Cripples Drug R&D, Says Alnylam CEO John Maraganore”
Only a Few Tickets Left for Monday’s Future of Search Event
Going… going… I can count on one hand the number of tickets left for our Monday, Nov. 30 event on The Future of Search and Information Discovery at the UW. Other than the fact that it conflicts with the titanic Monday Night Football game between the Patriots and Saints, it should be a great night. … Continue reading “Only a Few Tickets Left for Monday’s Future of Search Event”
Where Failure is an Option: San Diego’s Startup Culture as a Bay Area Annex
Not long ago, one of my Xconomy colleagues in Seattle posted a provocative piece about startup failures and suggested the startup culture in some cities—especially the San Francisco Bay Area—is far more tolerant of technology entrepreneurs who fail. Greg found that many Seattle entrepreneurs say they feel stigmatized by startup failures in the Pacific Northwest … Continue reading “Where Failure is an Option: San Diego’s Startup Culture as a Bay Area Annex”
Xconomy Innovators’ Lunch Is at Noon Today—Free Pizza at our Cambridge Office
Calling all startup entrepreneurs, tech & life sciences veterans, and Xconomy fans: If you haven’t left town for Thanksgiving yet and you fancy a free slice or two, come on over to our Cambridge office today at noon for an impromptu pizza party. We’re at 101 Rogers Street, Suite 402, in the Old Foundry Works … Continue reading “Xconomy Innovators’ Lunch Is at Noon Today—Free Pizza at our Cambridge Office”
Novartis Parts Ways with Idera Pharma
Idera Pharmaceuticals said this morning that it’s losing one of its three key Big Pharma partners. Swiss drug giant Novartis has told Cambridge, MA-based Idera (NASDAQ:[[ticker:IDRA]]) that it will terminate their four-year-old collaboration to develop drugs for respiratory diseases in February. Novartis has been funding research at Idera under this partnership since 2005 to develop … Continue reading “Novartis Parts Ways with Idera Pharma”
Ocera Therapeutics, Pursuing New Drug for Liver, Hopes to Help People Stay Mentally Sharp
The liver is hot in the biotech world. Cambridge, MA-based Vertex Pharmaceuticals (NASDAQ: [[ticker:VRTX]]) has made headlines this year with an antiviral drug that it hopes will do for hepatitis C—a chronic liver-damaging condition affecting millions of people—what a previous generation of treatments did for HIV. But away from the spotlight, a small San Diego … Continue reading “Ocera Therapeutics, Pursuing New Drug for Liver, Hopes to Help People Stay Mentally Sharp”
Bezos Family Gives $10M to Hutch, Bruce Carter Back in the Saddle, Dendreon Deadline Set, & More Seattle-Area Life Sciences News
A flurry of Seattle biotech news kept us very busy around here right before the holiday. —The parents of Amazon.com founder Jeff Bezos made one of the largest private donations ever to the Fred Hutchinson Cancer Research Center this week, when they pledged $10 million to support immunotherapy research. —Seattle-based Bio Architecture Lab, the developer … Continue reading “Bezos Family Gives $10M to Hutch, Bruce Carter Back in the Saddle, Dendreon Deadline Set, & More Seattle-Area Life Sciences News”
Ironwood Pharma Eyes $172.5M IPO, Biogen CEO Pay Under Fire, & More Boston Life Sciences News
Xconomy’s life sciences coverage this past week featured a mix of exclusive feature stories—such as Luke’s analysis of the PML side effect from Biogen Idec’s natalizumab (Tysabri)—and breaking news stories like Ironwood Pharmaceuticals’ ambition to become a publicly traded biotech company. —Cambridge, MA-based Ironwood revealed late Friday that the company is seeking to raise as … Continue reading “Ironwood Pharma Eyes $172.5M IPO, Biogen CEO Pay Under Fire, & More Boston Life Sciences News”
Local Bid for Smart Grid Funding Goes Unanswered
U.S. Energy Secretary Steven Chu said today the Department of Energy is awarding $620 million for smart grid projects around the country, but a San Diego coalition that sought $100 million was not on the list. The coalition, which included San Diego Gas & Electric, Cleantech San Diego, and UC San Diego, sought the DoE … Continue reading “Local Bid for Smart Grid Funding Goes Unanswered”
Datacastle Raises $3M More to Provide Data Backup and Security
Seattle-based Datacastle, the data backup and recovery software firm, has closed a $3 million funding round, according to CEO and president Ron Faith. The round was led by existing investor CM Capital Investments, a leading venture firm in Australia. The funding was disclosed in a regulatory filing. “We plan to use the funds for sales … Continue reading “Datacastle Raises $3M More to Provide Data Backup and Security”
The Pizza is On Us at Xconomy’s Innovators’ Lunch, Noon Wednesday
How do you tell the hardcore innovators and entrepreneurs from the sissies? They’re the ones who are still working on the Wednesday before Thanksgiving. To celebrate all that hard work—and to nourish our loyal readers with some authentic startup food before we all have to endure a weekend of turkey—we’re inviting all Xconomy fans who … Continue reading “The Pizza is On Us at Xconomy’s Innovators’ Lunch, Noon Wednesday”
Seattle Game Developers and Startups Go Social and Mobile, As Industry Shifts
Heading into the holidays, it seems like a good time to look at what’s going on in the gaming space around Seattle. While the core gaming giants like Xbox, Nintendo, Valve, and Bungie are gearing up for a busy shopping season, the mid-size casual game makers and publishers are actively trying to broaden their audience. … Continue reading “Seattle Game Developers and Startups Go Social and Mobile, As Industry Shifts”
Under the Radar: Five San Diego Deals That Are Signs of Things to Come
With help from New York-based ChubbyBrain, we’re introducing a new feature for Xconomy San Diego today that we call our “under-the-radar” deals. Here at Xconomy, our news coverage about technology innovation and startups includes the big venture financing deals that are the lifeblood of the early stage companies working to commercialize advances in the life … Continue reading “Under the Radar: Five San Diego Deals That Are Signs of Things to Come”
Cyberposium Speakers Tout the Importance of Scarcity Management, User Experience
This past Saturday, almost 700 people showed up for Cyberposium 15 at Harvard Business School, arguably the premier student-organized business school technology conference in the world, with past guests including Yahoo’s Jerry Yang, Amazon’s Jeff Bezos, and Google’s Marissa Mayer. The crowd consisted mostly of MBA students and other local students but had significant representation … Continue reading “Cyberposium Speakers Tout the Importance of Scarcity Management, User Experience”