A Chicago-based developer of large-scale renewable energy projects will build a 160-megawatt wind farm on the Campo Indian Reservation about 60 miles east of San Diego, under an agreement announced today. If completed as expected by 2012, the 100-turbine facility in the Laguna Mountains will generate enough electricity during peak production for more than 100,000 … Continue reading “Small Indian Tribe Lands Big Wind Energy Deal”
Category: National
PayScale and Bing Give Each Other a Raise
Bing, Microsoft’s new search engine, is partnering with PayScale, a Seattle-based salary comparison company, to help Bing users find answers about job salaries. Bing debuted last week, and has continued to add new features and capabilities as it attempts to compete with Google and become what Microsoft calls a “decision engine.” Under the terms of … Continue reading “PayScale and Bing Give Each Other a Raise”
DIGMA Aims To Boost Bay State’s Design Economy
Design isn’t just about deciding which shade of taupe to paint City Hall or whether to make a water bottle square or round. It can mean the difference between comprehension (think iPhone) and confusion (think butterfly ballot). A new multidisciplinary organization launched yesterday is out to promote the importance of the Bay State’s design industries, … Continue reading “DIGMA Aims To Boost Bay State’s Design Economy”
12 By 12 By 12 By 12 By 12
Yesterday, I participated in a very exciting event that culminated with the announcement by Massachusetts Governor Deval Patrick of an important funding program—a $1 million annual business plan competition called MassChallenge. The essence of this announcement is to match the next generation of young aspiring entrepreneurs with numerous sources of capital, most likely local venture … Continue reading “12 By 12 By 12 By 12 By 12”
Canditto—A Wedding Crasher That Shares The Love
Four years ago, Rush Hambleton and his wife left their wedding reception on a restored 1962 Vespa motor scooter. The professional photographer missed it. But luckily, an aunt just happened to catch the shot on her digital camera, and eventually sent the couple a print. The Vespa image, Hambleton says, was “the” shot of the … Continue reading “Canditto—A Wedding Crasher That Shares The Love”
Ardea Sees Early Signs of Effectiveness With Gout Drug
Ardea Biosciences, the San Diego-based developer of a treatment for gout, has shown in a small clinical trial that a treatment its scientists stumbled upon by accident just might work. Ardea (NASDAQ: [[ticker:RDEA]]) said today that 6 of the first 7 patients who got its lead drug candidate for gout were able to bring their … Continue reading “Ardea Sees Early Signs of Effectiveness With Gout Drug”
Anadys Cuts Jobs, Obesity Drug Developers Show Intriguing Results, Trius Antibiotic Passes Key Test, & More San Diego Life Sciences News
There was a lot of life sciences news over the past week in San Diego, with much of it coming out of the American Diabetes Association annual meeting in New Orleans. —At a time when San Diego’s Amylin Pharmaceuticals (NASDAQ: [[ticker:AMLN]]) doesn’t need more challenges, Denmark’s Novo Nordisk announced that liraglutide, its once-daily diabetes drug, … Continue reading “Anadys Cuts Jobs, Obesity Drug Developers Show Intriguing Results, Trius Antibiotic Passes Key Test, & More San Diego Life Sciences News”
UW Spinout, Beat BioTherapeutics, Aims to Make Stem Cells for Damaged Hearts
Stem cell researchers have a lot of big dreams, and one is to someday regenerate damaged hearts. That is still many years away from becoming a commercial reality, if ever, but a few University of Washington scientists have formed a new company that hopes to make cells that can replace pacemakers, and someday rebuild damaged … Continue reading “UW Spinout, Beat BioTherapeutics, Aims to Make Stem Cells for Damaged Hearts”
Dendreon Resists Urge to Sell Out, NanoString Nabs $30M, VC Firm Cashes Out on OncoGenex, & More Seattle-Area Life Sciences News
This is definitely not in sync with the economic theme of 2009, but surprisingly, there was a lot of good news in Seattle biotech the past week. —Dendreon CEO Mitchell Gold fielded a lot of questions at the company’s annual shareholder meeting yesterday, and the biggest one of all is whether he’s looking to sell … Continue reading “Dendreon Resists Urge to Sell Out, NanoString Nabs $30M, VC Firm Cashes Out on OncoGenex, & More Seattle-Area Life Sciences News”
Twitter’s Growth May Be Illusory, Says HubSpot Report
“Tweet, tweet,” chirped the robin outside my window yesterday. Given the Wall Street Journal’s report last month that 32.1 million people now have Twitter accounts, it seems like much of humanity is poised to join the robin and his avian cohorts in tweeting. Not everyone who has a Twitter account is using it though, according … Continue reading “Twitter’s Growth May Be Illusory, Says HubSpot Report”
By Fostering Innovation, San Diego Will Pull Venture Capital From Everywhere
Against the backdrop of a broad decline in venture investing nationwide, some concerns have been raised about San Diego’s hometown VCs and whether they are continuing to actively invest. But San Diego remains a vibrant community for venture capitalists to invest. We enjoy diverse industries including biotech, wireless, software, cleantech, and more. Good money follows … Continue reading “By Fostering Innovation, San Diego Will Pull Venture Capital From Everywhere”
Cell Therapeutics, After Raising More Cash, Hands Some Out in Management Bonuses
Cell Therapeutics (NASDAQ: [[ticker:CTIC]]) has been running dangerously low on cash this year, on a “tight-wire act” in the words of CEO James Bianco. Now the board has decided to hand out some rewards to management for not falling off. The compensation committee of the Seattle biotech company’s board agreed on June 4 to pay … Continue reading “Cell Therapeutics, After Raising More Cash, Hands Some Out in Management Bonuses”
Friday Is the Deadline to Enter Xconomy’s Battle of the Tech Bands
Two more days… That’s all that stands between us and the start of the ultra-competitive judging process to determine the finalists for Xconomy’s Battle of the Tech Bands. In case you haven’t heard, the big event is taking place on July 30, at the Washington Technology Industry Association’s annual summer celebration in Seattle (event details … Continue reading “Friday Is the Deadline to Enter Xconomy’s Battle of the Tech Bands”
Governor Patrick Announces $1 Million Business Plan Competition to Draw Startups to Massachusetts
Massachusetts Governor Deval Patrick today announced the creation of a $1 million annual business plan competition designed to attract more high-growth startups to the state. The competition, which will get underway next year, will be modeled on similar contests at MIT and other universities, but will be open to all teams of entrepreneurs willing to … Continue reading “Governor Patrick Announces $1 Million Business Plan Competition to Draw Startups to Massachusetts”
Dendreon, Resisting Urge to Sell, Eyes Opportunity to Be Seattle’s Next Immunex
Dendreon CEO Mitch Gold envisions his company becoming the next anchor tenant for the biotechnology industry in Seattle—the first big success story since Immunex in the late 1990s and early 2000s. For those in need of a refresher, Dendreon (NASDAQ: [[ticker:DNDN]]) has been riding a wave of enthusiasm the past couple months, since a clinical … Continue reading “Dendreon, Resisting Urge to Sell, Eyes Opportunity to Be Seattle’s Next Immunex”
Digital TV Conversion Clears Way for Qualcomm’s Flo TV Expansion to Boston, Other Markets
Qualcomm’s delayed plan to substantially expand the scope of its Flo TV service should finally take effect tomorrow, once television broadcasters in 39 markets turn off their analog transmitters and switch to digital TV broadcasts. Tomorrow’s planned DTV transition will free broadband spectrum on what was UHF Channel 55 that will be used by Flo … Continue reading “Digital TV Conversion Clears Way for Qualcomm’s Flo TV Expansion to Boston, Other Markets”
A Fresh Take on Websites and Wiki-Based Discovery, from Ray King of AboutUs
I dropped in on AboutUs for a mid-year checkup while I was in Portland, OR, last week. The company announced a $2.5 million Series A funding round from Voyager Capital in January, and has been transitioning from startup mode to strategic execution of its plans to reinvent how people discover and share information on the … Continue reading “A Fresh Take on Websites and Wiki-Based Discovery, from Ray King of AboutUs”
New Owner Laying Off a Quarter of Indevus Pharma Employees
For some former employees of Indevus Pharmaceuticals, it’s not such great news that the Lexington, MA, drug developer was acquired by Endo Pharmaceuticals. Chadds Ford, PA-based Endo (NASDAQ:[[ticker:ENDP]]), which completed its $370 million buyout of Indevus in March, is in the process of laying off a quarter of Indevus employees and moving research programs out … Continue reading “New Owner Laying Off a Quarter of Indevus Pharma Employees”
Northern Power Systems Aims for Large-Scale Wind Turbine Market, Taking on Industry Giants
Northern Power Systems is a busy company these days. The Barre, VT-based firm is expanding its business of designing and making medium-sized wind turbines to include the production of larger, utility-scale systems. Competition in the utility-scale market is fierce, but Northern Power has developed wind-turbine technology that its leadership believes will enable the firm to … Continue reading “Northern Power Systems Aims for Large-Scale Wind Turbine Market, Taking on Industry Giants”
Raj Krishnan: Moving From Cancer Diagnosis Innovation to a Business
What recourse does an entrepreneur have when there is no venture capital for a start-up with a truly promising invention? At San Diego’s Biological Dynamics, 27-year-old founder Raj Krishnan’s solution is to win entrepreneur and student competitions—and so far he has won 13 awards, nine of them this year, including most recently a $40,000 first … Continue reading “Raj Krishnan: Moving From Cancer Diagnosis Innovation to a Business”
Icahn Bags Two Biogen Board Seats, Pharma Giants Add $40M to Aileron Coffers, Pulmatrix Proceeds With Tests of Flu-Blocking Aerosol, & More Boston-Area Life Sciences News
Ryan and Luke profiled some extremely interesting companies this week. More on those, and the rest of the week’s New England life sciences news, below. —Billionaire investor Carl Icahn succeeded—at least partially—in his attempt to gain representation on the board of Cambridge, MA-based Biogen Idec (NASDAQ: [[ticker:BIIB]]). Roxanne reported live from the highly contentious annual … Continue reading “Icahn Bags Two Biogen Board Seats, Pharma Giants Add $40M to Aileron Coffers, Pulmatrix Proceeds With Tests of Flu-Blocking Aerosol, & More Boston-Area Life Sciences News”
Ventures West Cashes Out Stake in OncoGenex, Developer of Prostate Cancer Drug
Who says you can’t make money investing in biotech? Vancouver, BC-based Ventures West, one of the largest venture firms in Canada, has cashed out on its booming investment in Bothell, WA-based OncoGenex Pharmaceuticals (NASDAQ: [[ticker:OGXI]]). Ventures West disclosed earlier this week in a regulatory filing that it has sold all of its shares in OncoGenex—which … Continue reading “Ventures West Cashes Out Stake in OncoGenex, Developer of Prostate Cancer Drug”
Survey Shows VCs Expect Huge Shifts in Fundraising, Global Investing
We keep hearing there’s no better opportunity to start a company than during hard times, but a survey of venture capitalists shows that doesn’t necessarily translate into increased investment activity. In fact, results of a survey of VCs around the world being released today show that just over half (51 percent) of 725 VCs who … Continue reading “Survey Shows VCs Expect Huge Shifts in Fundraising, Global Investing”
State Set to Make Big, “Green” High Performance Computing Announcement: Effort to Bring Jobs to Western MA
Updated with additional detail June 9, 8:10 pm; further update and a correction added June 10, 7:15 am—see below A university, industry, and Massachusetts government coalition is set to announce a major initiative in high performance computing later this week, Xconomy has learned. Official sources are guarded, and specifics were hard to come by tonight. … Continue reading “State Set to Make Big, “Green” High Performance Computing Announcement: Effort to Bring Jobs to Western MA”
Biogen Idec Confirms Second Icahn Pick Elected to Board of Directors
Carl Icahn has landed a one-two punch on Biogen Idec. Today, the Cambridge, MA-based biotech confirmed what the activist investor had proclaimed last week—that two members of Icahn’s board slate have been elected to Biogen’s board of directors. This afternoon, the company acknowledged that Richard Mulligan, a professor of genetics at Harvard Medical School and … Continue reading “Biogen Idec Confirms Second Icahn Pick Elected to Board of Directors”
Drastic Cuts at Dataupia—Company Lays Off Majority of Staff While Hunting for New Investors
Cambridge, MA-based data warehousing appliance maker Dataupia has laid off nearly two-thirds of its staff and scaled back its operations while it seeks new funders, Xconomy has learned. We contacted Dataupia today after hearing a rumor that the four-year-old startup had shut down—a rumor that turns out to be exaggerated but not wholly unfounded. “Dataupia … Continue reading “Drastic Cuts at Dataupia—Company Lays Off Majority of Staff While Hunting for New Investors”
Amazon Solicits Customers for TV Ad Ideas
Amazon.com wants your brain. Well, actually it wants your creative ideas for a television advertisement. The “Your Amazon Ad Contest” announced yesterday is giving customers of the Seattle, WA-based internet retail giant a chance to send in their own ads for the website. Two winners, one picked by Amazon and one voted on by people … Continue reading “Amazon Solicits Customers for TV Ad Ideas”
MadCap Offers a Lesson in Bootstrapping, and a Case Study on Offshoring
San Diego’s MadCap Software may stand as an exemplar in showing how a small American technology company can compete against rivals that take advantage of low-cost development offshore. The startup, founded in 2005, specializes in developing authoring software that is used by technical writers and others to create owners’ manuals, user guides and other types … Continue reading “MadCap Offers a Lesson in Bootstrapping, and a Case Study on Offshoring”
Taris Biomedical Gives Glimpse of Drug-Delivery Tech, Discloses $15M Series A
We’ve heard talk since the middle of last year that MIT inventors Michael Cima and Bob Langer had again united with top venture capitalists in the Boston area to launch a life sciences startup. But the founders of the startup have tried to keep lid on their activities—until today. Taris Biomedical, formerly known as Certus … Continue reading “Taris Biomedical Gives Glimpse of Drug-Delivery Tech, Discloses $15M Series A”
Next 10 to Sign Up for XSITE 2009 are Eligible to Win a Garmin GPS System—So Hurry Up and Navigate to the Registration Site
We just got another great prize to give out to one lucky attendee of our upcoming XSITE 2009 event: a Garmin Nuvi 310 GPS unit, courtesy of the generous souls at the MIT Sloan CIO Symposium. Only the next 10 folks to buy tickets for XSITE—the Xconomy Summit on Innovation, Technology, and Entrepreneurship—will be eligible … Continue reading “Next 10 to Sign Up for XSITE 2009 are Eligible to Win a Garmin GPS System—So Hurry Up and Navigate to the Registration Site”
After Years of Red Ink, Vical Says DNA-Based Vaccines ‘Ready for Prime Time.’
For a lesson in surviving tough times, look no further than San Diego’s Vical. (NASDAQ: [[ticker:VICL]]) The vaccine developer has endured two decades of red ink and by any sort of business logic should have folded its tent long ago. Instead, Vical is slowly but steadily advancing its “naked DNA” technology for use as a … Continue reading “After Years of Red Ink, Vical Says DNA-Based Vaccines ‘Ready for Prime Time.’”
Prepared Response Raises $6.3M, Cell Therapeutics Loses Debt, RealNetworks Gets Into Netbooks, & More Seattle-Area Deals News
Deals in the Northwest have slowed down a bit in the past week. But there were some new partnerships formed, as well as a trickle of funding deals, in software, entertainment, cleantech, and biotech (the biggest deal came this morning). —Seattle-based NanoString Technologies raised $30 million in a third-round venture financing led by new investor … Continue reading “Prepared Response Raises $6.3M, Cell Therapeutics Loses Debt, RealNetworks Gets Into Netbooks, & More Seattle-Area Deals News”
Where Innovation Happens—A Still-Forming Map of Boston’s Growing Tech Lab Cluster
Where does technological innovation happen around Boston? What are the sources of new software and hardware creations? You’ve probably heard about Google and Microsoft moving to Cambridge in the past couple of years—but did you know Microsoft has two labs in Cambridge, not one? Or that another Silicon Valley company has a research lab just … Continue reading “Where Innovation Happens—A Still-Forming Map of Boston’s Growing Tech Lab Cluster”
NanoString Nabs $30M in Third Venture Round (Which It Hopes Will Be The Last)
NanoString Technologies, a Seattle-based maker of genetic analysis tools, has nailed down $30 million in a third-round venture financing to boost sales of its first product, just as it was running low on cash while it tries to prove itself in the marketplace. The round was led by Clarus Ventures, and was joined by NanoString’s … Continue reading “NanoString Nabs $30M in Third Venture Round (Which It Hopes Will Be The Last)”
Pulmatrix, With One Drug for Multiple Bugs, Aims to Fundamentally Change Flu Treatment
Back in September, I wrote in this space that if a global flu pandemic ever strikes, public health officials might turn to a Lexington, MA-based startup company called Pulmatrix. The pandemic (a bit overblown, I must say) did strike. And yes, the public health officials have been calling Pulmatrix. This company’s technology is nowhere near … Continue reading “Pulmatrix, With One Drug for Multiple Bugs, Aims to Fundamentally Change Flu Treatment”
ULocate Launches Where on Palm Pre
Most eyes in the mobile industry are on San Francisco today, where Apple unveiled the latest version of its smart phone platform, the $199 iPhone 3GS, at its Worldwide Developer Conference. But that hasn’t diminished the buzz around Palm’s newest phone, the $200 Palm Pre, which hit stores on Saturday and has already sold at … Continue reading “ULocate Launches Where on Palm Pre”
MOD Systems to Sell Music, Movies Without DRM in Retail Stores
Digital rights management took another hit today. MOD Systems, a Seattle, WA-based creator of digital delivery systems for media, announced it has signed deals with Universal Music Group, Sony Music Entertainment, Warner Music Group, and EMI Music, along with several groups of independent labels, to sell more than 5.2 million music tracks and 4,000 movies … Continue reading “MOD Systems to Sell Music, Movies Without DRM in Retail Stores”
Trius, Developer of Antibiotic for Deadly MRSA Bacteria, Passes Key Test
Trius Therapeutics, the San Diego-based biotech company, has passed an important milestone in its quest to develop a more convenient, more effective antibiotic against deadly MRSA bacterial infections that people tend to get in the hospital. Trius released results today from a study in which 188 patients with severe skin infections were randomly assigned to … Continue reading “Trius, Developer of Antibiotic for Deadly MRSA Bacteria, Passes Key Test”
Her Interactive’s Nancy Drew Games Help Solve the Mystery of Girl Gamers
On a desk, two magnifying glasses lie atop a small stack of books bound in a style reminiscent of a stately Victorian library. In any other video game company’s office they might seem out of place, but Bellevue, WA-based Her Interactive makes video games based on the written adventures of girl detective Nancy Drew, whose … Continue reading “Her Interactive’s Nancy Drew Games Help Solve the Mystery of Girl Gamers”
Display Technology That Shines Like Butterfly Wings, Venture Capital Resets Business, Promising Start-Ups Recognized, & More San Diego BizTech News
San Diego has retained its status among the country’s top regions for innovation, but the hometown venture community is contracting to the point where venture funding is back where it was in the 1990s. —Qualcomm is getting ready to deliver its latest innovation, a display screen for mobile devices that provides great visibility outdoors. The … Continue reading “Display Technology That Shines Like Butterfly Wings, Venture Capital Resets Business, Promising Start-Ups Recognized, & More San Diego BizTech News”
Alder Expands Partnership with Schering-Plough, Adds “Significant” Upfront Cash
Alder Biopharmaceuticals, the Bothell, WA-based developer of antibody drugs, is announcing today it has broadened its four-year-old partnership with Kenilworth, NJ-based drug giant Schering-Plough. The new deal calls for Alder to develop new targeted therapies against an undisclosed target on cells associated with a common neurological disease. Financial terms of the deal aren’t being disclosed, … Continue reading “Alder Expands Partnership with Schering-Plough, Adds “Significant” Upfront Cash”
VoxOx Launches Text Callback Service for International Calls
After launching a beta version of its free VoxOx universal communications service in November, San Diego’s TelCentris is rolling out a revision today that could make it easier for VoxOx users to place low-cost international calls. The privately held startup says it has updated its SMS (text messaging) service so that you can place an international call … Continue reading “VoxOx Launches Text Callback Service for International Calls”
GenArts Inks Major Visual Effects Software Deal with Lucasfilm
If you’re watching a movie, a commercial, or a TV sports promo and you see a special effect with an especially stunning glow, glint, flash, flare, light ray, starburst, sparkle, explosion, or atmospheric wave, there’s a good chance it was created using software from Cambridge, MA-based GenArts. The venture-backed startup, launched in 1996 by MIT … Continue reading “GenArts Inks Major Visual Effects Software Deal with Lucasfilm”
Aileron Snags $40M From Quartet of Pharma Giants to Develop New Class of Drugs
The biotech world will be buzzing today about something called “stapled peptides.” That’s because Cambridge, MA-based Aileron Therapeutics, a pioneering developer of this new class of drugs, has secured $40 million in venture capital from an ensemble cast of investors that includes four of the world’s biggest drugmakers. Aileron’s latest investment round was led by … Continue reading “Aileron Snags $40M From Quartet of Pharma Giants to Develop New Class of Drugs”
Verdiem Releases Energy-Saving Software Stats from Seattle, Chicago, Honolulu
Seattle-based Verdiem has some encouraging news today from around the country—and its own backyard. The maker of energy-saving software for personal computers is announcing results from trials performed by the city governments of Seattle, Chicago, and Honolulu. These customers have been using Verdiem’s product over a period of months to a year, in an effort … Continue reading “Verdiem Releases Energy-Saving Software Stats from Seattle, Chicago, Honolulu”
EMD Serono Staging Battle Against Multiple Sclerosis in Boston, Chief Says
If you don’t already count EMD Serono among the leaders in research of multiple sclerosis treatments in the Boston area, perhaps you haven’t talked to EMD chief executive Fereydoun Firouz. For EMD Serono—the U.S. affiliate of German chemical and drug powerhouse Merck KGaA and its Swiss biotech unit Merck Serono— the Boston area is home … Continue reading “EMD Serono Staging Battle Against Multiple Sclerosis in Boston, Chief Says”
Amylin’s Would-Be Savior, Once-Weekly Diabetes Shot, Shows Two-Year Benefit
The dust has settled in the boardroom battle for control over Amylin Pharmaceuticals, and now it’s time to get back to fundamentals. The San Diego-based biotech company hopes to grab the attention of physicians and investors this weekend with some new clinical trial data that suggests its once-weekly shot for diabetes was able to maintain … Continue reading “Amylin’s Would-Be Savior, Once-Weekly Diabetes Shot, Shows Two-Year Benefit”
Arena Obesity Drug Helps Patients Shed a Few Pounds, Lower Risk of Heart Disease
San Diego-based Arena Pharmaceuticals disappointed a lot of investors a couple months ago when its obesity drug didn’t help people shed as many pounds as hoped. But after combing through the data in greater detail, the company says it has evidence that its drug can help many patients lose weight, and that it leads to … Continue reading “Arena Obesity Drug Helps Patients Shed a Few Pounds, Lower Risk of Heart Disease”
Orexigen Obesity Drug Produces “Modest” Weight Loss, Lowers Cardiovascular Risk
Orexigen Therapeutics, the San Diego-based obesity drug developer, underwhelmed investors back in January with its incremental ability to help patients lose weight. But now the company is presenting more detailed results from a clinical trial that says it had a positive effect on lowering the risk of heart disease while improving patients’ quality of life. … Continue reading “Orexigen Obesity Drug Produces “Modest” Weight Loss, Lowers Cardiovascular Risk”
SplashCast Focuses on Social TV, Looks To Get Acquired
Portland, OR-based SplashCast has been making news in the past day or so, after a report surfaced in TechCrunch that it has discontinued its original product—user-generated content software—and is looking for a buyer after failing to raise a Series B funding round. Rick Turoczy, of the Portland-based blog Silicon Florist, pointed out that when it … Continue reading “SplashCast Focuses on Social TV, Looks To Get Acquired”