Here’s a rare bit of good news from the venture capital world. Boston-based Excel Venture Management has nailed down a $125 million fund to invest in new life sciences companies that it hopes will have broad potential to shake up a variety of industries, including information technology and alternative energy. Excel has been operating for … Continue reading “Excel Venture Unveils $125M Fund to Make Life Sciences Ideas Cross Over to IT, Energy”
Category: National
Qliance Raises $4M To Expand New Primary Care Model, Circumvent Health Insurers
Qliance Medical Management, the Seattle-based company that doesn’t accept health insurance for primary care medical services, has raised $4 million in venture capital to expand its practice in Washington and to other states around the country. The financing was led by Seattle-based Second Avenue Partners, and also included New Atlantic Ventures and Clear Fir Partners. … Continue reading “Qliance Raises $4M To Expand New Primary Care Model, Circumvent Health Insurers”
Fisher Plaza Fire Felt from Seattle to East Coast: Lessons from a Data Disaster
In case you missed it over the holiday, an electrical fire and power outage at Fisher Plaza near Seattle Center late on Thursday night disrupted a number of websites and services, including those of local tech companies Redfin, Survey Analytics, and Big Fish Games, as well as Microsoft’s Bing Travel site (formerly Farecast), Verizon’s DSL … Continue reading “Fisher Plaza Fire Felt from Seattle to East Coast: Lessons from a Data Disaster”
Behind NTT DoCoMo’s $45.5M Stake in PacketVideo
NTT DoCoMo, the Japanese wireless communications provider, has invested $45.5 million to acquire a 35 percent stake in PacketVideo, the only operating company of San Diego digital media provider NextWave Wireless (NASDAQ: [[ticker:WAVE]]). In a statement released last night, PacketVideo says the all-cash transaction is intended to strengthen DoCoMo’s position as a provider of music … Continue reading “Behind NTT DoCoMo’s $45.5M Stake in PacketVideo”
Taxing Times for Amazon in Japan, U.S.
Taxes aren’t fun for anyone, but recent events have put online retail leviathan Amazon.com in a “Boston Tea Party” mood. In the digital age, what does “physical presence,” the usual definition of a taxable company, really mean? —Amazon may owe 14 billion yen, or about $119 million, to Japanese tax authorities according to the Japanese … Continue reading “Taxing Times for Amazon in Japan, U.S.”
Akamai Delivers Live, High-Quality Video to the iPhone
For a long time, watching video on the Apple iPhone meant YouTube or nothing—and it only worked if you were within range of a Wi-Fi network. But now Cambridge, MA-based content distribution firm Akamai is helping many of its customers optimize live and recorded video for direct delivery to iPhones. Which, in effect, turns Apple’s … Continue reading “Akamai Delivers Live, High-Quality Video to the iPhone”
With Accounting Troubles in the Past, BakBone Gets Back to Business
Jim Johnson was named CEO of San Diego’s BakBone Software in late 2004, but he has only recently been focusing his full attention on what he was hired to do: expanding the company’s business and product lines. Embarking on something of a shopping spree in May, Johnson oversaw BakBone’s purchase of the assets of Santa … Continue reading “With Accounting Troubles in the Past, BakBone Gets Back to Business”
That Neighborhood Solar Nut is Now a Keynote Speaker
As a longtime advocate for sustainable building design, I have spent decades listening to people associate solar energy with ugly black boxes on the roof of the house that belonged to the neighborhood nutcase. I’m here to tell you those days are gone forever. I now find myself sharing the dais with the owners of those early solar … Continue reading “That Neighborhood Solar Nut is Now a Keynote Speaker”
EMC Raises Data Domain Offer
Determined not to be outbid by rival NetApp for data deduplication software maker Data Domain, Hopkinton, MA-based EMC (NYSE: [[ticker:EMC]]) today increased its takeover offer to $33.50 per share. In a letter to Data Domain’s board of directors, EMC CEO Joseph Tucci said the EMC offer is “far superior” to the latest $30-per-share bid from … Continue reading “EMC Raises Data Domain Offer”
MojoPages Gets Austin Powered, Reaction Design’s Technology is on Fire, ParAccel Raises $22M, & Other San Diego BizTech News
It was a week of deals before the Fourth of July weekend—partnership deals, funding deals, and even some buyout deals. So let’s just deal ’em. —ParAccel, which develops business analytics technologies that accelerate database queries, moved into new digs in San Diego six months ago—after doubling its staff to 60 employees. Now the company, which … Continue reading “MojoPages Gets Austin Powered, Reaction Design’s Technology is on Fire, ParAccel Raises $22M, & Other San Diego BizTech News”
Former CEO Alexis Borisy Voices Mixed Feelings on CombinatoRx Saga
Alexis Borisy stepped down from his chief executive role at drug developer CombinatoRx (NASDAQ:[[ticker:CRXX]]) last week after nine years on the job. His departure was revealed on the same day as the planned merger between Cambridge, MA-based CombinatoRx and Vancouver’s Neuromed Pharmaceuticals. I caught up with Borisy, an Xconomist, on the heels of the merger … Continue reading “Former CEO Alexis Borisy Voices Mixed Feelings on CombinatoRx Saga”
Ramgen, Maker of CO2 Compression Technology, Aims to Fight Climate Change
Forget renewable fuels for a minute. If the world is ever going to get serious about avoiding a global warming catastrophe, then we need to capture carbon dioxide being spewed from power plants into the atmosphere and bury it underground, at least according to one school of thought. The technology to make this practical on … Continue reading “Ramgen, Maker of CO2 Compression Technology, Aims to Fight Climate Change”
Microsoft’s Bing Gets Social, Includes Tweets in Search Results
Twing? Beet? There may have to be a new word for the sound of Twitter results showing up on Microsoft’s new search engine, Bing. Launched just last month, Bing has begun indexing popular Twitter feeds. This means that a search of the names of a few thousand famous people will bring up their Twitter feed … Continue reading “Microsoft’s Bing Gets Social, Includes Tweets in Search Results”
LogMeIn Pulls Off a $107 million IPO, CombinatoRx To Pair With Neuromed, CloudSwitch Turns on $8M, & More Boston-Area Deals News
Finally, an IPO! That, and the rest of the week’s deals news from New England’s tech and life sciences industries below. —Lexington, MA-based Highland Capital Partners reportedly pushed the close of its eighth venture fund back from late June until mid-July to give limited partners more time to contribute. PE Hub’s Dan Primack wrote that … Continue reading “LogMeIn Pulls Off a $107 million IPO, CombinatoRx To Pair With Neuromed, CloudSwitch Turns on $8M, & More Boston-Area Deals News”
Prometheus, $10M in Hand, Poised to Deliver Alternative Fuel for Shell Technology Ventures
Kirt Montague is the Comeback Kid of the Seattle cleantech community. We saw the fire in his eyes back in March when he rocked the room with a killer presentation on waste-to-energy at Xconomy’s cleantech forum in Seattle. And we see it again now that his company, Redmond, WA-based Prometheus Energy, which produces liquid natural … Continue reading “Prometheus, $10M in Hand, Poised to Deliver Alternative Fuel for Shell Technology Ventures”
Happy Fireworks Day; See You Next Week
When in the course of human events it becomes necessary for bloggers to temporarily dissolve the bonds which have connected them with their readers, and to assume among the powers of the earth the long weekend to which the laws of nature entitle them, a decent respect to the opinions of mankind requires that they … Continue reading “Happy Fireworks Day; See You Next Week”
Intellikine, Chasing Hot Cancer Drug Target, Raises Big Venture Round
La Jolla, CA-based Intellikine, a company developing drugs against one of the hottest targets in cancer biology, has nailed down $16 million in venture capital out of a round that could be worth as much as $38.5 million, according to a regulatory filing. Intellikine got the capital infusion from its founding crew of investors—Sofinnova Ventures, … Continue reading “Intellikine, Chasing Hot Cancer Drug Target, Raises Big Venture Round”
Bakersfield Firm Re-Energizing San Diego’s Pyron Solar
Bakersfield businessman Stan Ellis, whose Ellis Energy Investments recently acquired Pyron Solar, says he’s keeping Pyron’s headquarters in San Diego but he plans to outsource much of the manufacturing. Ellis, who announced the acquisition of Pyron’s assets and intellectual property Tuesday, declined to disclose Pyron’s purchase price in a telephone interview yesterday. But he says … Continue reading “Bakersfield Firm Re-Energizing San Diego’s Pyron Solar”
The Eight (Seven…Six?) Information Devices I Can’t Live Without
If you read Xconomy, chances are that digital information is a big part of your day. You spend quite a bit of time absorbing, manipulating, and repackaging it. So here are a few questions for you: How many different devices do you use to channel all those bits? Is the number going up, or down? … Continue reading “The Eight (Seven…Six?) Information Devices I Can’t Live Without”
Sequenom Discloses SEC Probe, How Evoke Pharma Got its Drug, Illumina Sales Fall Short, & More San Diego Life Sciences News
We had a mixed bag of bad and good news from the San Diego life sciences industry this week heading into the holiday weekend. —At least 11 shareholder lawsuits have been filed against San Diego’s Sequenom (NASDAQ: [[ticker:SQNM]]) since the medical diagnostics company disclosed on April 29 that four employees were suspended for “mishandling” research … Continue reading “Sequenom Discloses SEC Probe, How Evoke Pharma Got its Drug, Illumina Sales Fall Short, & More San Diego Life Sciences News”
Stem Cell Entrepreneur Quinn Dies, Dendreon Tames Shorts, PhysioSonics Monitors Brain Blood, & More Seattle-Area Life Sciences News
News flow in Seattle life sciences slowed down heading into the holiday weekend, so I rolled out a couple biotech and medical device features I’ve been meaning to clear off my to-do list for a while. —Dendreon (NASDAQ: [[ticker:DNDN]]) raised $221 million last month to expand its manufacturing and marketing efforts for its prostate cancer … Continue reading “Stem Cell Entrepreneur Quinn Dies, Dendreon Tames Shorts, PhysioSonics Monitors Brain Blood, & More Seattle-Area Life Sciences News”
Who’s Playing at the Battle of the Tech Bands? Stay Tuned…
We are in the final stages of selecting the five finalist bands who will perform on July 30 at the Xconomy Battle of the Tech Bands, to be featured at the Washington Technology Industry Association’s Summer Celebration at the Pyramid Alehouse across from Safeco Field in Seattle. We will announce the finalists very soon, but … Continue reading “Who’s Playing at the Battle of the Tech Bands? Stay Tuned…”
How IT Entrepreneurs Can Profit from Healthcare Reform and Other Tips from Boston’s Health 2.0 Insiders
The healthcare industry is facing a shakeup in the way it uses information technology, and this is creating all sorts of opportunities for entrepreneurs in New England. This was the take-home message from some of the top minds in the Health 2.0 field, who we gathered together last week for a jam-packed panel discussion at … Continue reading “How IT Entrepreneurs Can Profit from Healthcare Reform and Other Tips from Boston’s Health 2.0 Insiders”
Prometheus Energy, Maker of Liquid Natural Gas from Waste, Raises $10M from Shell Oil
Redmond, WA-based Prometheus Energy has closed a $10 million financing from Netherlands-based Kenda Capital, which manages the Shell Technology Ventures Fund that’s part of the Dutch oil giant. A second tranche of financing, worth an additional $10 million, will be part of the deal if Prometheus meets certain milestones. Chief executive Kirt Montague co-founded Prometheus … Continue reading “Prometheus Energy, Maker of Liquid Natural Gas from Waste, Raises $10M from Shell Oil”
Cleantech Venture Funding Brightens for All But Solar
The clouds may be parting for cleantech startups. Venture capital funding for renewable energy and cleantech startups (which plunged from last October through March) rebounded in the second quarter—but the $1.2 billion invested in 67 countries is still down 44 percent from the same quarter in 2008. Cleantech venture investments were strongest in transportation—specifically, vehicles … Continue reading “Cleantech Venture Funding Brightens for All But Solar”
CombinatoRx to Combine with Neuromed, CEO Borisy Steps Down
[Updated: 5 pm EST] Big news this morning from CombinatoRx, the developer of treatments based on combinations of known drugs. The Cambridge, MA-based firm (NASDAQ:[[ticker:CRXX]]) has agreed to a merger with a privately held biotech firm called Neuromed Pharmaceuticals to beef up its product pipeline and grow its cash surplus enough to operate into 2012, … Continue reading “CombinatoRx to Combine with Neuromed, CEO Borisy Steps Down”
Amira Pharmaceuticals’ Experimental Lung Disease Drug May Have Legs
The story around Amira Pharmaceuticals’ experimental drug AP2966 is beginning to get interesting. Yesterday the San Diego-based respiratory drug company said its experimental drug reduced lung scarring in mice, offering promise that the oral medication might one day be approved to treat pulmonary fibrosis. But it turns out there may be a lot more to this … Continue reading “Amira Pharmaceuticals’ Experimental Lung Disease Drug May Have Legs”
Emo Labs, Making Sound Leap Off the TV Screen, Woos Asian Electronics Makers
Thanks to ongoing advances in liquid crystal display and plasma screen technology, flat-panel TVs keep getting flatter. Sharp’s new 46-inch Aquos X model is only 1.35 inches deep—thinner than three iPhones stacked together. But while all this thinness may be sexy, it comes at the cost of decent sound: the less room a conventional loudspeaker … Continue reading “Emo Labs, Making Sound Leap Off the TV Screen, Woos Asian Electronics Makers”
Appature Labs Experiments with Twitter Search Engine, Chatterfly
Even with only 180 characters per post, it can be hard to find what you are looking for on Twitter. Sorting through the stream of tweets from the people you follow, let alone the entire Twitter network, can be daunting. Seattle-based healthcare marketing firm Appature recognized this fact, and so early last month released the … Continue reading “Appature Labs Experiments with Twitter Search Engine, Chatterfly”
New England Firms Poised for Biogeneric Future, Tobin Bids Boston Scientific Adieu, Biogen Idec Reports Tenth PML Case, & More Boston-Area Life Sciences News
Ryan and Luke did a couple of great in-depth stories this week—on the burgeoning business of biogenerics and on a young company out to take on the big boys of cancer with a new mouse model for the disease. —Ryan took a look at the Boston-area biotech companies that are poised to become key players … Continue reading “New England Firms Poised for Biogeneric Future, Tobin Bids Boston Scientific Adieu, Biogen Idec Reports Tenth PML Case, & More Boston-Area Life Sciences News”
In Drought-Ending IPO, LogMeIn Logs $107 Million
In the year’s first initial public offering by a venture-backed company from New England, Woburn, MA-based remote access software maker LogMeIn has raised $80 million, according to a report late Tuesday night in the Wall Street Journal. Through lead underwriters Barclays and JP Morgan Chase, the company sold 5 million shares at $16 per share—the … Continue reading “In Drought-Ending IPO, LogMeIn Logs $107 Million”
‘Rev’ing’ it up with Facebook
After a national competition, RunMyErrand was one of 25 companies invited to be part of Facebook’s fbFund Rev 2009 incubator program this summer in Palo Alto, CA. The program will last 10 weeks, and RunMyErrand team members from the engineering and business realm will be participating. We arrived into SFO late the night of Tuesday, … Continue reading “‘Rev’ing’ it up with Facebook”
Amag Pharmaceuticals Wins FDA Approval to Sell Iron Deficiency Drug
Amag Pharmaceuticals, the Lexington, MA-based developer of a drug for iron deficiency, said today it has received clearance from the FDA to start selling the drug on the U.S. market. The intravenous drug, feromoxytol, will be marketed under the brand name Feraheme for adult patients with iron deficiency anemia with chronic kidney disease. The company … Continue reading “Amag Pharmaceuticals Wins FDA Approval to Sell Iron Deficiency Drug”
Amira Pharmaceuticals Can Breathe Easier After Mouse Study
The people at San Diego’s Amira Pharmaceuticals are certainly breathing easier today. The respiratory drug development company is reporting that an experimental drug for idiopathic pulmonary fibrosis reduced lung scarring in mice, bringing Amira closer to its goal of beginning human tests of the oral medication during the first half of next year. In results presented this … Continue reading “Amira Pharmaceuticals Can Breathe Easier After Mouse Study”
Stephen Quinn, Biotech and Medical Device Entrepreneur, Dies Suddenly at 46
Xconomy is sad to report that Stephen Quinn, an emerging biotech and medical device entrepreneur in the Northwest, died suddenly at his home in Redmond, WA, on Sunday. He was 46. The cause of death is unknown. Paramedics found Quinn at home on Sunday afternoon with no pulse, and rushed him to Overlake Hospital Medical … Continue reading “Stephen Quinn, Biotech and Medical Device Entrepreneur, Dies Suddenly at 46”
Vical on Fast Pace With Animal Tests of Prototype Swine Flu Vaccine
An experimental swine flu vaccine from San Diego’s Vical (NASDAQ: [[ticker:VICL]]) produced “robust immune responses” in animal tests, the company reports. Vical says it can proceed to large-scale manufacturing and human tests if it receives funding. Getting regulatory approval of the prototype vaccine is another matter. Nevertheless, the company’s shares surged 50 cents, or more … Continue reading “Vical on Fast Pace With Animal Tests of Prototype Swine Flu Vaccine”
Dell Taps Skyhook for Location-Enabled Netbooks
Dell (NASDAQ: [[ticker:DELL]]) announced today that starting next week, customers will be able to order versions of its Mini 10 netbook computer equipped with GPS hardware as well as hybrid GPS and Wi-Fi-based location-finding software from Boston’s Skyhook Wireless. It’s the first time Round Rock, TX-based Dell has licensed Skyhook’s software for its products, and … Continue reading “Dell Taps Skyhook for Location-Enabled Netbooks”
Powering Cleantech to Market: Highlights from the XSITE Energy Panel
[Corrected 7/1/09] The atmosphere at last Wednesday’s XSITE energy breakout session was electric—clean electric, that is. The topic of the hour was the future and feasibility of wind, solar, and other alternative energy industries in New England. Rob Day, president of the Renewable Energy Business Network, moderated the panel, which included Jay Fiske (a VP … Continue reading “Powering Cleantech to Market: Highlights from the XSITE Energy Panel”
Reaction Design Aims for Cleantech Boom with Combustion Simulation Software
The world of combustion science is much like fluid dynamics, an intense and ever-changing pattern of turbulence, a swirling river of fire and complex chemistry. So it’s only apropos that San Diego’s Reaction Design, which seemed adrift for a decade or more, now finds itself at a powerful confluence of forces in combustion technology. Increasing … Continue reading “Reaction Design Aims for Cleantech Boom with Combustion Simulation Software”
UCSD’s Biological Dynamics a Finalist in Global Contest for $250K Prize
Biological Dynamics, an early stage cancer diagnostics company founded by UC San Diego grad student Raj Krishnan, has raised more than $47,000 in startup capital by winning cash prizes in business plan competitions and other academic contests. Now Krishnan tells me he’s one of 16 finalists in a global competition for university and business-school students that provides … Continue reading “UCSD’s Biological Dynamics a Finalist in Global Contest for $250K Prize”
Dendreon Tames Short Sellers, Transforms Itself into Old-School Buy-and-Hold Stock
Dendreon has had enough of the fast money world. The short sellers who hope to profit from a falling stock, and the hedge fund players who thrive on volatility that comes from rumors and speculation, turned this Seattle-based biotech company into one of Wall Street’s great running dramas of the past two years. Not anymore. … Continue reading “Dendreon Tames Short Sellers, Transforms Itself into Old-School Buy-and-Hold Stock”
Yapta Closes Series B, PhysioSonics Scores $2M More, Powerit Talks Strategy, & More Seattle-Area Deals News
It was a slow week for deals in the Northwest, with just a trickle of activity in software, Internet, and medical devices. We’ll see if things pick up after the holiday weekend. —Bellevue, WA-based PhysioSonics raised $2 million in equity funding from undisclosed investors, as Luke reported. The maker of ultrasound technology for monitoring blood … Continue reading “Yapta Closes Series B, PhysioSonics Scores $2M More, Powerit Talks Strategy, & More Seattle-Area Deals News”
CloudSwitch Doubles Venture Pot, Names CEO; Startup Wants to Make Cloud Computing Safe and Simple for Enterprises
Within a few years, says John McEleney, sheer economics will force most companies to stop buying their own computer hardware and offload some or all of their processing and storage to the cloud. But at the moment, figuring out which business applications can safely be transferred to the cloud—meaning pay-as-you-go, off-premises storage and computing power—is … Continue reading “CloudSwitch Doubles Venture Pot, Names CEO; Startup Wants to Make Cloud Computing Safe and Simple for Enterprises”
Biotech Gaining Ground in Washington State, Report Says
“Boeing, bytes, and biotech.” That is what Washington state will be best known for over the coming decades, at least according to U.S. Rep. Jay Inslee. Inslee, a Democrat from Western Washington’s first congressional district, delivered that catchy sound bite yesterday morning at the Seattle Biomedical Research Institute. He spoke during a press conference to … Continue reading “Biotech Gaining Ground in Washington State, Report Says”
Fluent Mobile’s New iPhone App—An Elegant, Multi-Source News Reader
Ah, the beauties and the pitfalls of the new mobile-software ecosystem. With ready-made distribution platforms like Apple’s iTunes App Store, it’s possible for a couple of entrepreneurs to launch a company on the cheap around a single application. But if you go that route, you’re entirely at the mercy of Apple, where the App Store … Continue reading “Fluent Mobile’s New iPhone App—An Elegant, Multi-Source News Reader”
Amazon Pulls the Plug on Rhode Island Affiliates
Seattle’s mighty Amazon isn’t feeling too friendly toward the Ocean State. This morning, the online retail giant sent out a terse notice to its Rhode Island affiliates, informing them that their accounts were closed effective June 29th, due to impending changes to the state’s tax laws that apply to certain online purchases. This echoes a … Continue reading “Amazon Pulls the Plug on Rhode Island Affiliates”
Yahoo to Wind Down Maven Video Publishing Service
[Update 12:30 a.m. 6/30/09: We’ve revised this story after speaking with a Yahoo official.] A report Monday in TechCrunch asserting that Yahoo is killing off its Cambridge, MA-based video hosting company Maven Networks just 16 months after acquiring it for $160 million is inaccurate in some respects, but accurate in others, according to the company. … Continue reading “Yahoo to Wind Down Maven Video Publishing Service”
With Cash from Siemens and ArcelorMittal, Powerit Looks to Expand, Tap the Smart Grid
In the world of cleantech, there’s a lot of focus on alternative energy sources and power generation. But for Seattle’s Powerit Solutions, the name of the game is energy efficiency. Powerit is the North American division of the company, which also has a European division in Sweden (where the company started). It is a leader … Continue reading “With Cash from Siemens and ArcelorMittal, Powerit Looks to Expand, Tap the Smart Grid”
ParAccel Lands $22 Million in VC Funding
ParAccel, which has offices in Cupertino, CA, and San Diego, says it has raised $22 million in a Series C round of venture funding. The company provides database management system for data warehousing and analysis. A new investor, Menlo Ventures, led the round, which included Walden International as well as previous investors Bay Partners, Mohr Davidow Ventures … Continue reading “ParAccel Lands $22 Million in VC Funding”
The Tale of the Green Surfboard: Behind the Scenes at Connect’s Cleantech Venture Roundtable
In December 2005, the biggest maker of polyurethane foam blanks used to make the core of surfboards (and other products) abruptly shut down—creating a huge void among Southern California surfboard makers and the composites industry. I have worked in the composites industry for nearly 30 years and I was keenly aware of the highly toxic … Continue reading “The Tale of the Green Surfboard: Behind the Scenes at Connect’s Cleantech Venture Roundtable”