With the start of real summer weather in the Northwest, we’ve seen some good deal action heating up in Internet software, biotech, and energy in the past week. —Seattle-based consulting firm R.W. Beck is being acquired by government contractor SAIC (NYSE: [[ticker:SAI]]) in San Diego for $155 million. It’s one of the Northwest’s bigger tech … Continue reading “R.W. Beck Aligns with SAIC, Blackbox Republic Gets Seeded, Bio Architecture Lab Raises Cash, & More Seattle-Area Deals News”
Category: National
San Diego’s Slight Rebound in Venture Investing Reflects Broader Trends—Region’s Top Deals List
Following a nationwide trend, venture capital investments in San Diego region strengthened during the second quarter that ended June 30, but still remained well below funding levels at this time last year. Regional data released by Dow Jones VentureSource shows VCs invested $208.8 million in 25 San Diego deals, a 40 percent decline from the … Continue reading “San Diego’s Slight Rebound in Venture Investing Reflects Broader Trends—Region’s Top Deals List”
Aveo Nabs $20M From Extended Deal with OSI Pharma
Aveo Pharmaceuticals has insisted it can bankroll its operations this year through partnerships, not venture capital, and now its proving the point again. The Cambridge, MA-based biotech company has nabbed $20 million by extending a partnership with Melville, NY-based OSI Pharmaceuticals (NASDAQ: [[ticker:OSIP]]). The new deal between the two companies, which first teamed up in … Continue reading “Aveo Nabs $20M From Extended Deal with OSI Pharma”
Dicerna, Archemix Team Up to Make Souped Up RNAi Combo Drugs
Dicerna Pharmaceuticals has set its sights on silencing problematic genes using what it calls the “second doorway” of RNA interference—an approach to the burgeoning field that other RNAi companies aren’t pursuing. But to get its drugs over the transom and where they need to go in the body, the Watertown, MA-based company will need a … Continue reading “Dicerna, Archemix Team Up to Make Souped Up RNAi Combo Drugs”
ZymoGenetics Picks Up Some of Human Genome Sciences’ Mojo With Lupus Drug
ZymoGenetics watched in obscurity from the sidelines yesterday as one of its main competitors rocked the biotech world. Yet Zymo cheered every minute like this was a gift from heaven. Say what? The big news came before markets opened yesterday when Rockville, MD-based Human Genome Sciences (NASDAQ: [[ticker:HGSI]])—once an overhyped darling of the genome bubble … Continue reading “ZymoGenetics Picks Up Some of Human Genome Sciences’ Mojo With Lupus Drug”
New England Venture Activity Rebounds Slightly in Q2—Region’s Top 10 Deals List
New England companies raised more venture dollars and completed more VC deals in the second quarter of 2009 than they did in the first three months of this year, according to two reports on venture investment activity released recently. Still, the total number of deals and capital invested in the region during the three months … Continue reading “New England Venture Activity Rebounds Slightly in Q2—Region’s Top 10 Deals List”
VC Investing Activity Shows Some Gains in Second Quarter, But Still Well Below 2008 Levels
Venture capital invested in U.S. startups during the second quarter was roughly half the amount invested during the same quarter last year, but two venture capital surveys found encouraging signs of improvement from the abysmal first three months of 2009. VCs put $3.67 billion into 612 deals during the three months that ended June 30, … Continue reading “VC Investing Activity Shows Some Gains in Second Quarter, But Still Well Below 2008 Levels”
Revised Noncompete Legislation Doesn’t Go Far Enough
[Editor’s Note: Bijan Sabet of Spark Capital has kindly allowed us to cross-post this entry from his blog reacting to news today of a draft bill proposing compromise language on noncompete agreements in Massachusetts.] My partners and I have been pushing to end the use of employee non-compete agreements for some time now. We passionately … Continue reading “Revised Noncompete Legislation Doesn’t Go Far Enough”
Google Axes Seattle Employees, Report Says
Google is based based in Mountain View, CA, but has two research and development groups in the Seattle area, one in Kirkland, WA and one in Seattle’s Fremont neighborhood. But according to a report by Steve Spiegel in the Examiner yesterday, Google is getting smaller in the Northwest. The search engine giant is laying off … Continue reading “Google Axes Seattle Employees, Report Says”
Compromise Bill Would Allow, But Scale Back, Noncompete Agreements in Massachusetts
A new draft bill that would limit but not outlaw noncompete agreements in employment contracts in Massachusetts is being floated by two members of the state’s House of Representatives. The bill combines elements of separate bills introduced earlier this year by Representatives William Brownsberger of the 24th Middlesex district and Lori Ehrlich of the 8th … Continue reading “Compromise Bill Would Allow, But Scale Back, Noncompete Agreements in Massachusetts”
Orexigen Obesity Drug Hits Weight Loss Goal in Studies, Company Looks Toward FDA
San Diego-based Orexigen Therapeutics dumped a boatload of information in the public domain this morning about clinical trials of its experimental obesity drug. Investors have been in a wait-and-see mode about this drug for months after arguing over the merits of one big trial, but they reacted positively to this new batch of data, sending … Continue reading “Orexigen Obesity Drug Hits Weight Loss Goal in Studies, Company Looks Toward FDA”
Synthetic Genomics Gets Big Oil Funding for Algae Biofuel, Qualcomm May Pull Plug on LifeComm, Aculon’s Nanocoating Replaces Toxic Chromium, & More San Diego BizTech News
The biggest news by far last week was ExxonMobil’s decision to invest $600 million in biofuels, with half of that going to San Diego’s Synthetic Genomics. A number of companies also launched new technology iniatives. To find out what’s happening, just keep reading. —ExxonMobil, the world’s largest oil company, said last week it plans to … Continue reading “Synthetic Genomics Gets Big Oil Funding for Algae Biofuel, Qualcomm May Pull Plug on LifeComm, Aculon’s Nanocoating Replaces Toxic Chromium, & More San Diego BizTech News”
Insights into SAIC’s Acquisition of R.W. Beck for $155M—and Beck’s Strategy in Energy, Water
It may be one of the great untold success stories of the Seattle technology scene. For the past decade, R.W. Beck, an engineering and business consulting firm, has been quietly making a name for itself in key technical areas like energy and water management. Now the Seattle-based firm with 550 employees is becoming part of … Continue reading “Insights into SAIC’s Acquisition of R.W. Beck for $155M—and Beck’s Strategy in Energy, Water”
Replacing Phil Sharp Will Be Up to Biogen’s Board
Famed scientist Phil Sharp’s retirement from the board of directors at Biogen Idec (NASDAQ:[[ticker:BIIB]]) leaves the board without what was perhaps its leading scientific voice, but his departure doesn’t leave activist investor Carl Icahn with much of an opening to seize greater control over the company. When I reported last week that Sharp had stepped … Continue reading “Replacing Phil Sharp Will Be Up to Biogen’s Board”
PressOK, Born in a Mobile Merger, Focuses on Smartphone Games
After just a couple of weeks, Ryan Morel was hooked on Bumper Stars, a free game on Facebook. He and his co-workers were but a few of the tens of thousands of people playing the game, a mixture of ping-pong, pool, and shufflepuck, every month. Morel only wished someone would make a mobile version of … Continue reading “PressOK, Born in a Mobile Merger, Focuses on Smartphone Games”
BostInnovation: Creating an Innovative Ecosystem
Boston is justly famous for the constant stream of inventions, ideas, and technologies that flow from the city and surrounding areas. Keeping track of them all seems like a Sisyphean job, but a new website, BostInnovation, is taking up the challenge. The site, launched just a couple of weeks ago, aggregates Twitter streams from individuals, … Continue reading “BostInnovation: Creating an Innovative Ecosystem”
IBM Top Massachusetts Official Mohamad Ali Leaves for Big Job at Avaya
Mohamad Ali, IBM’s senior state official for Massachusetts, has left Big Blue after more than 13 years to join enterprise communications equipment company Avaya, Ali announced in a personal e-mail this afternoon. Ali, who started at Avaya on Wednesday with the title of senior vice president of corporate development, has responsibility for all M&A activity … Continue reading “IBM Top Massachusetts Official Mohamad Ali Leaves for Big Job at Avaya”
Former Googler Launches Sharein, a Social Tool for Twitter, Facebook, and E-mail
Colin Wong called me from Malaysia last night. His startup, Bellevue, WA-based Sharein (formerly ZoeCity), has rolled out an interesting new product and website today—a bookmark tool for sharing links with friends, family, and customers to Twitter, Facebook, and e-mail, all from your Web browser. It’s not earth-shattering technology, but it’s part of a new … Continue reading “Former Googler Launches Sharein, a Social Tool for Twitter, Facebook, and E-mail”
Microsoft and Yahoo Finally Making a Deal?
Microsoft and Yahoo, after complicated negotiations and a few false starts, may be very close to announcing a deal wherein Redmond, WA-based Microsoft will take over the search advertising business run by Sunnyvale, CA-based Yahoo. The latest news, from a report on All Things Digital (and many other subsequent articles), indicates a formal announcement could … Continue reading “Microsoft and Yahoo Finally Making a Deal?”
Xconomy Boston Is On The (Very Short) Move
Posting will be light from Xconomy Boston today, as we’re busy hauling our stuff three blocks down Rogers Street to our new headquarters at 101 Rogers Street. That’s right, we’re moving form 10 Rogers St., Suite 101, to 101 Rogers St., Suite 402—let the confusion begin! I can’t tell you how lucky we feel, particularly … Continue reading “Xconomy Boston Is On The (Very Short) Move”
To ESRI’s Thompson, GIS Mapping Innovations Are The ‘Canvas On Which We Draw the Story of Analysis’
I met Simon Thompson at the center of the GIS world, which was set at least for several days this week at 32.7090 degrees North, 117.1644 degrees West. Those are the coordinates for the main exhibit hall of the San Diego Convention Center, where more than 12,000 people interested in GIS, or Geographic Information Systems, … Continue reading “To ESRI’s Thompson, GIS Mapping Innovations Are The ‘Canvas On Which We Draw the Story of Analysis’”
Art Isn’t Free: The Tragedy of the Wikimedia Commons
I came across a nice Isaac Asimov quote this week: “No sensible decision can be made any longer without taking into account not only the world as it is, but the world as it will be.” The copyright dispute that went public this week between the UK’s National Portrait Gallery and the Wikimedia Commons is … Continue reading “Art Isn’t Free: The Tragedy of the Wikimedia Commons”
Aculon Offers Cleantech Breakthrough as it Commercializes Nanocoating Technology
After getting a briefing last month from Aculon CEO Ed Hughes, I would not have thought of the five-year-old San Diego startup as a cleantech company. Nanotechnology? Yes. Materials Science? Absolutely. Cleantech? Nah, not really. Yet Aculon is announcing today that it has developed a formulation of its proprietary nanocoating technology to replace certain applications … Continue reading “Aculon Offers Cleantech Breakthrough as it Commercializes Nanocoating Technology”
Previewing Xconomy’s Battle of the Tech Bands
With just under two weeks to go until Seattle’s first-ever Battle of the Tech Bands, I thought I’d give you a quick preview of the event. It’s all taking place on July 30 at the WTIA Summer Celebration, at the Pyramid Alehouse (registration and ticket info here). The music will start at 6pm, and we’ll … Continue reading “Previewing Xconomy’s Battle of the Tech Bands”
$50M for ConforMIS, $8.2M for ConnectEDU, $7.25M for MedVentive, & More Boston-Area Deals News
I’m happy to say that the last week has provided a number of venture financings to talk about, and a few other deals as well. —Waltham, MA-based North Bridge Venture Partners committed to participating in a planned $5 million Series A round of financing for MC10. The newbie firm, formed last year and housed in … Continue reading “$50M for ConforMIS, $8.2M for ConnectEDU, $7.25M for MedVentive, & More Boston-Area Deals News”
Mpire CEO Matt Hulett to Step Down, Become Executive Chairman—and Join RealGames
Matt Hulett, the chief executive of Seattle-based Mpire, is stepping down as of August 14 to become executive chairman of the firm. Mpire runs the popular online advertising network Widgetbucks, and in April the firm rolled out an ad-optimizing service called AdXpose. The company is actively recruiting for a new CEO with expertise in advertising … Continue reading “Mpire CEO Matt Hulett to Step Down, Become Executive Chairman—and Join RealGames”
Qualcomm, Unable to Raise Capital, May Be Terminating LifeComm
Struggles to find third-party financial support has prompted San Diego’s Qualcomm (NASDAQ: [[ticker:QCOM]]) to stop supporting LifeComm, its startup healthcare mobile network, according to a report by Mobihealthnews, a Boston website covering the wireless health industry. Attributing the information to an anonymous source, Mobihealthnews reported yesterday that Qualcomm is pulling the plug on LifeComm. In response to a … Continue reading “Qualcomm, Unable to Raise Capital, May Be Terminating LifeComm”
More Than a Cherry on Top—Microsoft Search Honcho Harry Shum on Why Bing is Different from Other MS Products
A wise man once told me, “Engineers don’t lie.” So when I wanted to find out the real story behind Bing, Microsoft’s new search engine, I went to Harry Shum. Shum is Microsoft’s vice president of search product development. He runs the engineering team responsible for Bing, among other duties. He was formerly the managing … Continue reading “More Than a Cherry on Top—Microsoft Search Honcho Harry Shum on Why Bing is Different from Other MS Products”
Biotech Pioneer Phillip Sharp Retires from Biogen Idec Board
Phillip Sharp, the MIT biologist and geneticist who co-founded Biogen Idec (NASDAQ:[[ticker:BIIB]]) in 1978, has retired from the biotech powerhouse’s board of directors, according to a company statement issued this morning. Sharp, 65, has served as a director of Biogen since 1982. During his tenure on the Cambridge, MA-based company’s board, Biogen has evolved from … Continue reading “Biotech Pioneer Phillip Sharp Retires from Biogen Idec Board”
Sciele Pharma Cancels Victory Pharma Buyout, Life Science Startups Raise Capital, Sorrento Therapeutics Engineers Reverse Merger, & More San Diego Life Sciences News
We saw a couple of San Diego’s life sciences companies successfully raise capital in the past week. But a couple of others experienced problems that would have been difficult to anticipate. —Sciele Pharma, an Atlanta, GA, unit of Japan’s Shionogi & Co. left San Diego’s Victory Pharma at the altar last week, after announcing in … Continue reading “Sciele Pharma Cancels Victory Pharma Buyout, Life Science Startups Raise Capital, Sorrento Therapeutics Engineers Reverse Merger, & More San Diego Life Sciences News”
Behind Every Good Product Is a Story; The Daily Grommet Brings You One a Day
What the Sam Hill (as my grandpa used to say) is a Daily Grommet? The answer comes in two parts. “Grommet” is the word industrial designer and entrepreneur Jules Pieri has appropriated for the kind of bewitching product that you might discover in an upscale shop in Puerto Vallarta or Tuscany or Vermont—something that’s so … Continue reading “Behind Every Good Product Is a Story; The Daily Grommet Brings You One a Day”
Bio Architecture Lab Raises Cash, OVP Invests in Limerick, & More Seattle-Area Life Sciences News
Raising money and making deals were the trends of our life sciences stories this past week. And sometimes more than just business executives benefit. —Greg reported that University of Washington spinoff company Bio Architecture Labs raised $3.4 million in equity funding this week. The company, which works to create synthetic biofuels and renewable chemicals, apparently … Continue reading “Bio Architecture Lab Raises Cash, OVP Invests in Limerick, & More Seattle-Area Life Sciences News”
Biogen Idec, Trying to Go Beyond Rituxan, Assembles Cancer Drug Pipeline
Biogen Idec, as avid biotech readers know, is the world’s largest maker of multiple sclerosis drugs. Not the world’s largest maker of cancer drugs. Not even close. Yet the Cambridge, MA-based biotech company (NASDAQ: [[ticker:BIIB]]) has its sights on carving out a bigger niche in the fiercely competitive field of cancer drug development. It’s a … Continue reading “Biogen Idec, Trying to Go Beyond Rituxan, Assembles Cancer Drug Pipeline”
Philips Acquires InnerCool, San Diego Startup That’s Run Hot and Cold
Royal Philips (NYSE: [[ticker:PHG]]), the Dutch conglomerate, says today it has agreed to acquire the assets of InnerCool Therapies, a once-hot San Diego medical device startup, in a deal with an overall value of $12.75 million. InnerCool was founded in 1998 and raised about $50 million from Kleiner Perkins Caufield and Byers, Credit Suisse First … Continue reading “Philips Acquires InnerCool, San Diego Startup That’s Run Hot and Cold”
Bio Architecture Lab, a UW Spinout, Raises $3.4M for Renewable Chemicals and Biofuels
Seattle-based Bio Architecture Lab, a stealthy spinout from the University of Washington, has raised $3.4 million in equity funding out of a $6 million offering, according to a regulatory filing. Michael Borrus of Menlo Park, CA-based X/Seed Capital is listed on the form as a director, which suggests that X/Seed participated in the funding round. … Continue reading “Bio Architecture Lab, a UW Spinout, Raises $3.4M for Renewable Chemicals and Biofuels”
Of Phase Forward, MedVentive, and iMedX—Today’s New England Heath IT Deals Round-Up
[Updated at 5 pm ET on 7/16/09. Editor’s note appended] We came across a trio of healthcare IT deals this morning, which seems to be a bit more than usual even in New England, so we thought we’d provide a snapshot of each of the deals. This activity could be chalked up to the intense … Continue reading “Of Phase Forward, MedVentive, and iMedX—Today’s New England Heath IT Deals Round-Up”
Early View of Second Quarter Shows VC Investing Activity at $5.3B, Up 61 Percent
We got an early peek at second-quarter VC investing today from ChubbyBrain, a New York-based information service (and new Xconomy partner) that uses a “structured wiki” to collect data on startups, and monitors venture capital investments nationwide. ChubbyBrain says venture activity bounced back, with more than $5.3 billion invested during the three months that ended in … Continue reading “Early View of Second Quarter Shows VC Investing Activity at $5.3B, Up 61 Percent”
Location-Aware Apps On The Rise, But Many Are Cookie-Cutter ‘Bulk Apps,’ Report Finds
Not surprisingly, given the rush among handset makers and software developers to cash in on the mobile-software explosion, there’s a been a big uptick in the availability of mobile apps that make use of location information, according to a report published today by Boston’s Skyhook Wireless. That’s true not just for the Apple iPhone, but … Continue reading “Location-Aware Apps On The Rise, But Many Are Cookie-Cutter ‘Bulk Apps,’ Report Finds”
Designers Compete to Rethink Zink’s Pocket Printers
Today Bedford, MA-based Zink unveiled the winning designs in a $25,000 contest called “Zero Boundaries,” launched to elicit creative ideas about how Zink’s inkless printing technology might be built into devices that young people and future mobile consumers could use to capture, modify, and share digital photos. We’ve told you the story of Zink, the … Continue reading “Designers Compete to Rethink Zink’s Pocket Printers”
GreenRay Sees Green in $2M A Round
Westford, MA-based startup GreenRay has raised $2 million in a Series A round of venture capital to advance its plans to commercialize its plug-and-play solar panels, according to an announcement this morning. Venture firm Quercus Trust, of Newport Beach, CA, led the first-round financing, which included co-investor 21Ventures, based in New York. GreenRay, which has … Continue reading “GreenRay Sees Green in $2M A Round”
Tragedy of the Commons: It’s (Really) Time to Ban Non-Compete Agreements
On snowy days in certain neighborhoods of our great city it is not unusual for someone to put an old trash can in an on-street parking space that they have recently cleared. We all know there is threat implied: if you take the spot, you will regret it. Given the effort expended to clear the … Continue reading “Tragedy of the Commons: It’s (Really) Time to Ban Non-Compete Agreements”
Quasar Unveils Innovative Sensors for Detecting Subsea Oil and Gas Deposits
In its quest to discover new offshore oil and gas deposits, the petroleum industry has achieved some extraordinary technology innovations. Seismic surveys, which collect data about subsea rock formations by bouncing sound waves off the ocean bottom, have become increasingly sophisticated. With advances in sensors, software algorithms, and high-performance computer processing, such surveys have enabled … Continue reading “Quasar Unveils Innovative Sensors for Detecting Subsea Oil and Gas Deposits”
OVP Leads $15M Series C Round for Limerick BioPharma
Kirkland, WA-based OVP Venture Partners has led a new $15 million investment round in Limerick Biopharma, a drug development company based in South San Francisco. Existing investors Arch Venture Partners, Sevin Rosen Funds, and Altitude Funds also participated in the Series C round. Limerick is a new portfolio company for OVP, and OVP managing director … Continue reading “OVP Leads $15M Series C Round for Limerick BioPharma”
Canceled Buyout Snatches Victory From Victory Pharma’s Investors
Victory is not yet in sight for San Diego’s Victory Pharma, a specialty drug company focused on pain relievers. A Japanese drug marketer backed out of a $150-million deal to acquire Victory this week, leaving the San Diego pain specialist in need of solace and a new game plan. Sciele Pharma said in a press release that … Continue reading “Canceled Buyout Snatches Victory From Victory Pharma’s Investors”
ConforMIS Corrals $50M, Oscient Files for Bankruptcy, Vertex Peddles Rights to Milestone Payments, & More Boston-Area Life Sciences News
New England’s life sciences companies produced a couple of sizeable venture deals this past week, but they also faced some significant challenges. —Rapid Micro Biosystems closed a Series A financing round worth $18.6 million. Kleiner Perkins Caufield & Byers, TVM Capital, Quaker BioVentures, and VIMAC Milestone Medica Fund provided the backing for the Bedford, MA-based … Continue reading “ConforMIS Corrals $50M, Oscient Files for Bankruptcy, Vertex Peddles Rights to Milestone Payments, & More Boston-Area Life Sciences News”
Blackbox Republic, Led by Ex-Jive Exec, Gets Seed Funding for Sex-Positive Social Network
First of all, Blackbox Republic is not a hook-up site. Let’s just get that out of the way. It’s also not a porn site, sex site, or dating site. It’s a niche social network, looking to fill the void between Facebook, Match.com, and Amazon, and it’s starting out by targeting members of an emerging community … Continue reading “Blackbox Republic, Led by Ex-Jive Exec, Gets Seed Funding for Sex-Positive Social Network”
Synthetic Genomics to Build Algae Biofuels Facility in San Diego
The $600 million that ExxonMobil is investing to develop algae-based biofuels, including at least $300 million through its partnership with San Diego’s Synthetic Genomics, represents the largest single investment in the emerging technology, according to J. Craig Venter, Synthetic Genomics’ founding CEO. Venter and Emil Jacobs, a vice president at ExxonMobil Research and Engineering, discussed … Continue reading “Synthetic Genomics to Build Algae Biofuels Facility in San Diego”
Oscient Pharma Seeks Bankruptcy, Finds Buyer for No. 2 Product
Oscient Pharmaceuticals has apparently run short on options to keep its struggling drug business afloat. The Waltham, MA-based biotech firm (NASDAQ:[[ticker:OSCI]]) and its subsidiary Guardian II Acquisition Corporation have each filed for Chapter 11 bankruptcy protection and Oscient has landed a buyer for one of its two marketed products, Oscient announced late yesterday. The company … Continue reading “Oscient Pharma Seeks Bankruptcy, Finds Buyer for No. 2 Product”
Nuance Acquires Jott
Nuance Communications (NASDAQ: [[ticker:NUAN]]), the Burlington, MA-based voice technology juggernaut that has already absorbed most of its East Coast competitors, reached west today, announcing that it has acquired Seattle-based Jott. Jott, founded in 2006 by ex-Microsoft employees, started out as a free voice-to-text service that allowed users to record messages via telephone that were then … Continue reading “Nuance Acquires Jott”
The Medium is the Message as VoxOx Unifies, Updates Communications Services
San Diego’s TelCentris is announcing an upgrade to its VoxOx universal communicator service that includes a personal assistant feature, a virtual service that can answer your phone calls and route them according to your personal preferences. With the technology, you can direct phone calls from a family phone to reach you on your cell phone, … Continue reading “The Medium is the Message as VoxOx Unifies, Updates Communications Services”