Cytori Therapeutics, (NASDAQ:[[ticker:CYTX]]) a San Diego company developing therapies from fat, is bulking up its cash position. Since March, the regenerative medicine has company raised more than $15 million through private equity sales. The latest deal—inked with Seaside 88 of Florida in June—gives Cytori an infusion of many thousands of dollars every two weeks for … Continue reading “San Diego’s Cytori Gains Cash; Loses a Patent”
Category: National
Reports: Microsoft and Yahoo Close Search and Advertising Deal, Will Announce Today
It might all turn out to be anticlimactic. After a tumultuous year of on-again, off-again talks to strike an Internet search and advertising deal, Microsoft (NASDAQ: [[ticker:MSFT]]) and Yahoo (NASDAQ: [[ticker:YHOO]]) are about to tie the knot, according to several media outlets. The Wall Street Journal‘s All Things Digital blog, citing multiple sources close to … Continue reading “Reports: Microsoft and Yahoo Close Search and Advertising Deal, Will Announce Today”
aTyr Pharma Raises $12 Million in Venture Funding
aTyr Pharma, a San Diego-based developer of protein drugs, said today it has raised $12 million in additional venture capital to develop treatments for autoimmune diseases, metabolic disorders, and blood conditions. The company raised the cash from Alta Partners, Cardinal Partners, and Polaris Venture Partners. It’s the second big round of financing for aTyr, which … Continue reading “aTyr Pharma Raises $12 Million in Venture Funding”
IBM Snaps Up Security Software Firm Ounce Labs
IBM announced today that it has acquired Waltham, MA-based security and compliance software firm Ounce Labs for an undisclosed amount. The move could help Big Blue meet its clients’ growing need to reduce the costs and risks associated with increasingly complex security and business regulations and policies. Corporations constantly struggle with security and compliance issues, … Continue reading “IBM Snaps Up Security Software Firm Ounce Labs”
Massachusetts Has “One Foot in the 21st Century, One Foot in the 18th,” Says Attorney General Coakley
In an informal discussion with technology leaders from industry and academia this morning at Microsoft’s New England Research and Development Center in Cambridge, Massachusetts Attorney General Martha Coakley and staff members from her office covered a range of issues affecting technology businesses and consumers, from cybercrime to the need to overhaul the state’s laws regarding … Continue reading “Massachusetts Has “One Foot in the 21st Century, One Foot in the 18th,” Says Attorney General Coakley”
New Biotech in Town: Relocated Helicon Therapeutics Raises $50 Million
Helicon Therapeutics, a San Diego biotech developing drugs to enhance memory, has raised $50 million from undisclosed investors, according to a recent filing with the U.S. Securities and Exchange Commission. Although the filing was dated June 24, it was not among the second quarter venture capital fundings in the recent MoneyTree Report, according to Emily … Continue reading “New Biotech in Town: Relocated Helicon Therapeutics Raises $50 Million”
Amazon Buys Zappos, General Fusion and Finsphere Get $9M Each, Big Fish Partners with People.com, & More Seattle-Area Deals News
From Amazon to Zappos, it was an exciting week for deals in the Northwest. A lot of the news was dominated by Amazon’s biggest acquisition to date ($920 million), but there was plenty of other action in energy, biotech, software, and gaming. —Xconomy broke the news that General Fusion, a Burnaby, BC-based clean energy company, … Continue reading “Amazon Buys Zappos, General Fusion and Finsphere Get $9M Each, Big Fish Partners with People.com, & More Seattle-Area Deals News”
Ariad Shares Boom as Cancer Drug Shows Promise
Ariad Pharmaceuticals, the Cambridge, MA-based developer of cancer drugs, said today that its lead experimental drug is likely to succeed in an ongoing mid-stage trial of the drug as a treatment for breast cancer. Shares of Ariad (NASDAQ: [[ticker:ARIA]]) shot up 29 percent, to $3.15 after the news crossed the wire. The Ariad drug, ridaforolimus, … Continue reading “Ariad Shares Boom as Cancer Drug Shows Promise”
Cerulean Pharma Grabs $10M for Nanoparticle Drugs
[Correction: July 29, 7:15 pm] Cerulean Pharma, the Cambridge, MA-based developer of nanoparticle drugs, said today it has raised $10 million in a Series B round of venture capital. The company raised the money from its existing crew of investors: Polaris Venture Partners, Venrock Associates, Lux Capital, and Bessemer Venture Partners. Part of the cash … Continue reading “Cerulean Pharma Grabs $10M for Nanoparticle Drugs”
Technologies for the Blind and Deaf Could Have Much Broader Impact, Says UW’s Richard Ladner
Think about the technological tools you use most often. For many of us, cell phones and computers rank high up on that list. But these devices are designed with the hearing and sighted in mind, and are constantly evolving, so there are numerous hurdles to clear to make a phone or a computer usable to … Continue reading “Technologies for the Blind and Deaf Could Have Much Broader Impact, Says UW’s Richard Ladner”
Dendreon May Not Survive Its Success: Q&A with Founder Chris Henney, Part 2
Yesterday, we brought Xconomy readers the first installment of a conversation with Christopher Henney, the co-founder of Seattle’s three most successful biotech companies of the past 30 years—Immunex, Icos, and Dendreon. The first two companies ended up getting acquired—Immunex for $10 billion in 2002, and Icos for $2.3 billion in 2007. Now that Dendreon has … Continue reading “Dendreon May Not Survive Its Success: Q&A with Founder Chris Henney, Part 2”
Alnylam and Isis’ Offspring, Regulus, Keeps Pushing on Biology’s ‘Bleeding Edge’
Regulus Therapeutics, its CEO admits, is a child of privilege. It was born two years ago with a silver spoon in its mouth—some hot intellectual property to make drugs based on emerging knowledge about microRNA biological networks. It has a couple of parents with wealth and pedigree: Cambridge, MA-based Alnylam Pharmaceuticals (NASDAQ: [[ticker:ALNY]]), and Carlsbad, … Continue reading “Alnylam and Isis’ Offspring, Regulus, Keeps Pushing on Biology’s ‘Bleeding Edge’”
Gearing Up for Battle of the Tech Bands: Beer, Prizes, and One More Cartoon
After a scorching week of 90-degree temperatures, what could be better than kicking back with a nice cold one, catching up with friends and colleagues—and seeing five of Seattle’s top rock bands with tech affiliations duke it out for prizes and the adulation of the crowd? It’s all happening this Thursday evening at Xconomy’s Battle … Continue reading “Gearing Up for Battle of the Tech Bands: Beer, Prizes, and One More Cartoon”
Amazon.com Owns Just About Everything Now
“Earth’s biggest bookstore,” boasted Amazon.com in the early days after its 1995 launch. Nearly 15 years later, Amazon seems more like Earth’s biggest store, period. Music and movies, videogames, clothing, toys, furniture, even food, it’s all just a few clicks away. And with last week’s acquisiton of online retailer Zappos.com (originally estimated at $850 million, … Continue reading “Amazon.com Owns Just About Everything Now”
Seattle Layoff Update: Targeted Genetics, Wetpaint, Google, and Others Cut Staff
Don’t let this summer heat wave fool you. It’s still bitterly cold in job land. Despite Wade’s optimistic report this morning on local companies with open positions, a lot of Seattle-area tech and life sciences firms are still heading in the opposite direction. In the past month, we’ve seen layoffs, big and small, across the … Continue reading “Seattle Layoff Update: Targeted Genetics, Wetpaint, Google, and Others Cut Staff”
Rayspan Raises $12.5 Million from Sequoia, Khosla Ventures
San Diego-based Rayspan said today that it has collected $12.5 million in Series B funding to finance its work on advanced materials that could be used to make smaller, more sensitive, and more versatile antennas for mobile devices. Existing investor Sequoia Capital of Menlo Park, CA, provided part of the money, with the rest coming … Continue reading “Rayspan Raises $12.5 Million from Sequoia, Khosla Ventures”
Avila Therapeutics Gets $30M to Push Ahead With Covalent Drugs
Avila Therapeutics, the Waltham, MA-based developer of drugs that create stronger bonds with protein targets on cells, said today it has raised $30 million in a Series B round of venture capital to drive its treatments into human clinical trials. The Novartis Option Fund, a new investor, led the financing, and was followed by Avila’s … Continue reading “Avila Therapeutics Gets $30M to Push Ahead With Covalent Drugs”
Silverlink Makes A Science of Healthcare Communication
When Merck recalled its arthritis drug Vioxx on September 30, 2004, Connecticut-based online pharmacy FamilyMeds wasted no time notifying customers. Within three hours after the recall was announced, an automated telephone system began calling Vioxx users to inform them about the change. But there was a twist—to comply with the federal healthcare privacy law known … Continue reading “Silverlink Makes A Science of Healthcare Communication”
Beck’s CEO Looks to SAIC’s Buyout, San Diego’s Venture Funding Improves, Korean Watchdog Slaps Qualcomm With $208M Fine, & And More San Diego BizTech News
Venture capital investments are viewed as one indicator of economic health, and a couple of reports last week suggest that San Diego’s VC actvity is recuperating—or at least stabilizing. Catch up on that and other developments in local biztech news below. (Meanwhile, we’re keeping the lights on at Xconomy San Diego, but I’m going to recharge … Continue reading “Beck’s CEO Looks to SAIC’s Buyout, San Diego’s Venture Funding Improves, Korean Watchdog Slaps Qualcomm With $208M Fine, & And More San Diego BizTech News”
Forget the Shortcuts: Creating a Truly Innovative Biotech Culture
Watching the acquisition of Genentech by Roche has been a fascinating process. I wasn’t so interested in the eventual price paid per share, but whether Basel, Switzerland-based Roche, one of the oldest and most traditional pharma companies, could preserve the special science-based culture at Genentech that made it the world’s pre-eminent biotech company. Would Genentech’s … Continue reading “Forget the Shortcuts: Creating a Truly Innovative Biotech Culture”
The Fastest Growing Startups in Boston, Seattle, and SoCal
Behind the stubborn economic clouds, there may be a few hints of blue sky. A few companies, in other words, are hiring rather than firing—and a new report from StartUpHire, a Vienna, VA-based job board that specializes in advertising open positions at venture-backed startups, has the lowdown on which ones (see the lists below). As … Continue reading “The Fastest Growing Startups in Boston, Seattle, and SoCal”
Dendreon May Not Survive Its Success: Q&A with Founder Chris Henney, Part 1
Christopher Henney’s career in biotechnology looks like a three-act drama over three decades. He’s a classically-trained immunologist who went on to be the co-founder of Seattle’s three most successful biotech companies when ranked by stock market value—Immunex, Icos, and Dendreon. Henney, now 68, pushed Dendreon on its odyssey when he joined as CEO in 1995. … Continue reading “Dendreon May Not Survive Its Success: Q&A with Founder Chris Henney, Part 1”
Joule Biotechnologies, Developer of Solar Fuel, Launches with Visions of U.S. Energy Independence
Joule Biotechnologies is officially launching today to reveal technology that is designed to mimic photosynthesis to produce liquid fuels and chemicals. The startup says it can produce ethanol at prices competitive with fossil fuels while avoiding some of the pitfalls of making ethanol with corn, switch grass, or other plant materials. The firm says its … Continue reading “Joule Biotechnologies, Developer of Solar Fuel, Launches with Visions of U.S. Energy Independence”
General Fusion, Developer of Novel Nuclear Fusion Method, Raises $9M in Venture Financing
General Fusion, a Burnaby, BC-based company that hopes to generate clean energy from a new form of nuclear fusion, has raised $9 million out of a $12.5 million equity offering, Xconomy has learned. The company isn’t disclosing who invested in the round, although it includes a syndicate from the United States, United Kingdom, and Canada, … Continue reading “General Fusion, Developer of Novel Nuclear Fusion Method, Raises $9M in Venture Financing”
Targeted Growth Plots Future as Agricultural Biotech, Cleantech Pioneer
If you owned a method that can make plants grow bigger and faster on every acre of land, what would you do to best exploit it? Targeted Growth CEO Tom Todaro is hedging his company’s bets 50-50, wagering that his Seattle-based firm will become a player in two potentially huge industries—agriculture and clean energy. If … Continue reading “Targeted Growth Plots Future as Agricultural Biotech, Cleantech Pioneer”
Project Tuva or Bust: How Microsoft’s Spin on Feynman Could Change the Way We Learn
“I don’t know what’s the matter with people: they don’t learn by understanding, they learn by some other way—by rote or something,” physicist Richard Feynman once said. “Their knowledge is so fragile!” Maybe Feynman’s brain was big enough to simply “learn by understanding”—sucking in and comprehending complex realities in a single glance. But what I … Continue reading “Project Tuva or Bust: How Microsoft’s Spin on Feynman Could Change the Way We Learn”
UW Profs, Tech Execs Talk Next-Generation Graphics, Imaging, and Interfaces for Games
Four professors from the University of Washington’s department of computer science and engineering recently presented their cutting-edge research to a private audience of tech executives and investors active in the game industry in downtown Seattle. The Interactive Media Technology Showcase was hosted on Wednesday by UW TechTransfer and enterpriseSeattle, and coincided with the Casual Connect … Continue reading “UW Profs, Tech Execs Talk Next-Generation Graphics, Imaging, and Interfaces for Games”
Startups Just Want to Have Funds: A Roundup of Recent San Diego Deals
Venture deals seem to be picking up again in the San Diego region. A number of local startups have been raising capital, according to recent filings with the U.S. Securities and Exchange Commission. Many of the deals are relatively small, suggesting that VC firms are still being conservative in their investments following what seemed like … Continue reading “Startups Just Want to Have Funds: A Roundup of Recent San Diego Deals”
$8M More for Acquia, Novartis-Alnylam Collaboration Continues, Virtualization Firm Akiba Acquires $6.53M, & More Boston-Area Deals News
I’ve got a nice variety of deals—particularly venture financings—to tell you about this week. —Swiss drug giant Novartis opted to extend a collaboration with Alnylam Pharmaceuticals (NASDAQ:[[ticker:ALNY]]) of Cambridge, MA, for a fifth year. Under the extension, Novartis will continue to fund certain RNA interference research and development efforts at Alnylam through October 2010. —Software … Continue reading “$8M More for Acquia, Novartis-Alnylam Collaboration Continues, Virtualization Firm Akiba Acquires $6.53M, & More Boston-Area Deals News”
The Future of Gaming Is Purveying Sin, Says VC Tim Chang
“Gaming will save us all,” proclaimed Tim Chang this morning. A principal at Norwest Venture Partners, a venture capital firm out of Palo Alto, CA, Chang spoke at Casual Connect Seattle, the three-day casual video game conference that ends this evening. Chang’s topic was emerging trends in casual gaming, and as a proud gamer since … Continue reading “The Future of Gaming Is Purveying Sin, Says VC Tim Chang”
No More Tears: Avanir Investors Await Trial Results on Emotional Outburst Drug
Avanir Pharmaceuticals (NASDAQ: [[ticker:AVNR]]) has been working for so long on a drug for an odd neurological syndrome that triggers involuntary laughter and tears, it’s almost enough to make some investors cry. Soon they will learn if the wait has been worth it. In the next few weeks, the onetime San Diego biotech now just over … Continue reading “No More Tears: Avanir Investors Await Trial Results on Emotional Outburst Drug”
Amazon’s Acquisition of Zappos Is “A Good Thing for Kiva,” Says Robot Company’s CEO
Much of the buzz about Amazon’s surprise announcement yesterday that it is acquiring popular online shoe retailer Zappos for more than $900 million is about whether the Las Vegas-based company really needed to sell, or was pressured to do so by its main venture backer, Sequoia Capital. But the first thing I wondered when I … Continue reading “Amazon’s Acquisition of Zappos Is “A Good Thing for Kiva,” Says Robot Company’s CEO”
Are You Ready to Rock? Listen to Xconomy’s Battle of the Tech Bands Finalists Here
It’s all about the party. It’s all about the networking. No. For today, at least, it’s all about the rock. Seattle’s first-ever Battle of the Tech Bands is happening one week from tonight, on July 30, at the Pyramid Alehouse. The music starts at 6 pm. Xconomy is teaming up with WTIA to bring this … Continue reading “Are You Ready to Rock? Listen to Xconomy’s Battle of the Tech Bands Finalists Here”
VC Biotech Funding Rebounds, Biogen Idec Co-Founder Resigns From Board, Pathway Genomics Debuts $250 Personal Genome Test, & More San Diego Life Sciences News
Venture capital funding for San Diego’s life sciences companies was surprisingly strong from April through June—with another deal announced this week. —One of the key trends to be teased out of venture capital investment data for the second quarter of this year is that VC funding for life science companies rebounded to record levels. In San … Continue reading “VC Biotech Funding Rebounds, Biogen Idec Co-Founder Resigns From Board, Pathway Genomics Debuts $250 Personal Genome Test, & More San Diego Life Sciences News”
The Big Idea at Acme Packet: Smoothing the Way for Voice and Video on the Internet
You’re an unfunded early-stage startup and your sole venture backer sends you a check for millions of dollars. Unfortunately, it’s made out to the wrong company name, so you can’t deposit it. What do you do? You change your name, of course. That’s how Primary Networks became Acme Packet. The Burlington, MA, maker of Internet … Continue reading “The Big Idea at Acme Packet: Smoothing the Way for Voice and Video on the Internet”
ZymoGenetics Picks Up Mojo, Dendreon Looks Southeast, Cell Therapeutics Raises Dough & More Seattle-Area Life Sciences News
This week biotech, both locally and nationally, showed some real swagger in its step. Human Genome Sciences turned into a rocket ship, Medarex made investors a fortune, and Onyx Pharmaceuticals surprised the street with positive news against breast cancer. You can bet this rising tide will lift other boats as investors prowl around for the … Continue reading “ZymoGenetics Picks Up Mojo, Dendreon Looks Southeast, Cell Therapeutics Raises Dough & More Seattle-Area Life Sciences News”
What’s an Entrepreneur To Do? Amidst Mixed Signals for Economic Recovery, Four Experts Share Strategies for Startup and Business Success
The economic climate these days reminds me of the famous line about the weather at the “Crosby Clambake” golf tournament (now the AT&T Pebble Beach National Pro-Am) held each February on California’s Monterey peninsula, in unpredictable conditions that shift quickly from sun to cold and rain: “There’s plenty of it.” So it seemed a good … Continue reading “What’s an Entrepreneur To Do? Amidst Mixed Signals for Economic Recovery, Four Experts Share Strategies for Startup and Business Success”
Qualcomm Anticipates Fine in Korean Probe of Anticompetitive Practices
[Updated July 23 at 8:30 a.m PT: South Korea’s antitrust watchdog set a $208M fine. More details are here.] Qualcomm, the San Diego wireless technology giant, has remained resilient through the recession so far, and today the chipmaker raised its forecast for fiscal-year revenue and operating income due to a healthy demand for its products. Chairman and CEO … Continue reading “Qualcomm Anticipates Fine in Korean Probe of Anticompetitive Practices”
Cell Therapeutics Taps Stock Market Again, Seeks $40M or More
Here’s an iron law of biotech: Never doubt Cell Therapeutics’ ability to raise money, in good times or in bad. The Seattle-based biotech company, which has raised more than $1.3 billion from investors in its 18-year history without turning a consistent profit, said today it is hitting up investors for what should amount to another … Continue reading “Cell Therapeutics Taps Stock Market Again, Seeks $40M or More”
BeneChill Raises $13.5 Million to Commercialize Medical Cooling Device
Perhaps it’s a sign of the “coolness” of medical device technology in San Diego. Fresh on the heels of Philips Electronics’ purchase of San Diego-based InnerCool Therapies, which uses cooling therapies to treat patients, BeneChill says it has raised $13.5 million in a Series C round of venture funding. In its statement, BeneChill says a … Continue reading “BeneChill Raises $13.5 Million to Commercialize Medical Cooling Device”
A Low Wind Blows Fair as Knight & Carver Shipyard Sails Into Wind Turbine Business
The Knight & Carver Yacht Center was founded in 1971 along the southeastern shore of San Diego Bay, where it continues to build and repair large boats, specializing in custom-built yachts and commercial passenger vessels. Because so many boat hulls are made of fiberglass, the National City, CA-based boatyard also has worked extensively with fiberglass … Continue reading “A Low Wind Blows Fair as Knight & Carver Shipyard Sails Into Wind Turbine Business”
Startup School: The Xconomy Guide to Venture Incubators, 2009 Edition
Technology entrepreneurship can be a lonely road. Not only do you have to convince a few friends or colleagues to work hundred-hour weeks for the next several years in support of your wild idea, but you’ve got to make it past the elevator pitch with at least one funder, and then prove that your idea … Continue reading “Startup School: The Xconomy Guide to Venture Incubators, 2009 Edition”
Dendreon Scouts for Next Manufacturing Plant, Probably Far From Salmon and Evergreens
Dendreon takes pride in being a Seattle-based company, and CEO Mitchell Gold likes to say he envisions building it into the Northwest’s next biotech powerhouse, like Immunex in the 1990s. But compared to the rest of the country, Seattle just doesn’t have that many people ill with prostate cancer. So it’s a safe bet he … Continue reading “Dendreon Scouts for Next Manufacturing Plant, Probably Far From Salmon and Evergreens”
Pangea’s Quiver of Quizzes for the Social Media and ‘Brand Hacking’ Era
Are you smarter than Paris Hilton? If you could know the exact time, date, and location of your death, would you want to know? Which Harry Potter character are you? If you could only have one home gaming system for the rest of your life, which one would you pick? It wouldn’t be hard to … Continue reading “Pangea’s Quiver of Quizzes for the Social Media and ‘Brand Hacking’ Era”
Ballard Power, IdaTech Help Stop Power Loss in India—a Closer Look at the Deal
Wireless telecommunication networks require a constant, uninterrupted supply of electricity. Unfortunately, power outages are a common problem in many parts of India. The electrical grid in those areas can go down for hours every day. As a solution to this problem, Indian telecommunications company ACME Tele Power has turned to hydrogen fuel-cell generators to keep … Continue reading “Ballard Power, IdaTech Help Stop Power Loss in India—a Closer Look at the Deal”
Northwest VCs See Existential Threat, and a Change in the Entrepreneurial Mindset
Money keeps going in, but it isn’t coming out. If you’re a venture capitalist, this is what you call a serious problem. Innovation will go on. So will entrepreneurship. But when I spoke to a handful of venture capitalists yesterday morning about the trends in their industry, and about their role in financing startups, they … Continue reading “Northwest VCs See Existential Threat, and a Change in the Entrepreneurial Mindset”
Biogen Founder Retires From Board, Biopure Goes Broke, Epix Saga Ends, & More Boston-Area Life Sciences News
A mixture of good news and bad for New England life sciences this week with a couple of companies closing their doors while others forged new partnerships and made acquisitions. Health IT was a particularly busy area. —Waltham, MA-based Phase Forward (NASDAQ:[[ticker:PFWD]]) acquired the interactive voice and Web-response services business of Princeton, NJ-based contract research … Continue reading “Biogen Founder Retires From Board, Biopure Goes Broke, Epix Saga Ends, & More Boston-Area Life Sciences News”
Big Fish Goes Cinematic, Nintendo Sees Opportunities for Developers at Casual Connect
Casual games are a serious business. Seattle-based PopCap Games’ Bejeweled and Big Fish Games’ Mystery Case Files were cheap to develop compared to most modern computer and console games, and the cost to buy them is similarly low, but games like these are played by millions of people around the world. Between the recession and … Continue reading “Big Fish Goes Cinematic, Nintendo Sees Opportunities for Developers at Casual Connect”
Azuki Systems Builds Swimsuit iPhone App for Sports Illustrated
Being neither heterosexual nor much of a sports fan, I’ve never quite understood the annual excitement generated by the Sports Illustrated swimsuit issue. But lots of folks out there will no doubt be glad to hear that the swimsuit models, like everything else these days, are now available as an iPhone app. Azuki Systems, the … Continue reading “Azuki Systems Builds Swimsuit iPhone App for Sports Illustrated”
Washington Venture Investing Gravitates to Biotech—The Regional Top 10 List
It stands to reason in a downturn, when investors get more cautious, the last place they’d want to park money is in a sector where it takes huge sums, agonizing stretches of time, and slim odds of a profit. That’s biotech in a nutshell, yet even in the downturn, it’s where some of the biggest … Continue reading “Washington Venture Investing Gravitates to Biotech—The Regional Top 10 List”