OutSmart Power Systems, a Natick, MA-based startup developing systems to monitor and manage energy usage and other activities in commercial buildings, says it has closed a $2 million seed round of financing. The financing round, the first part of which was raised last year, included contributions from Bainco International Investors in Wellesley, MA, Northeastern U.S. … Continue reading “OutSmart Power Systems Wraps Up $2M Seed Round”
Category: National
Amylin Shareholders Vote Today in Battle to Influence Board
[[Editor’s note: Updated today at 10:55 am PT]] A shareholder vote that could influence the course of San Diego’s Amylin Pharmaceuticals has been completed, but results of the board election were not released during the meeting today. “We do not have an indication [of the outcome] at this time,” Amylin chairman Joseph Cook told shareholders … Continue reading “Amylin Shareholders Vote Today in Battle to Influence Board”
Fate Therapeutics Starts First Clinical Trial of Drug to Boost Stem Cell Transplants
Fate Therapeutics plans to announce this morning that it has begun its first clinical trial of a drug built on its knowledge of stem cell biology. Rather than injecting certain kinds of adult stem cells to regenerate tissues, this treatment involves a conventional small-molecule drug that’s designed to spur growth of blood-forming stem cells that … Continue reading “Fate Therapeutics Starts First Clinical Trial of Drug to Boost Stem Cell Transplants”
Genologics Aims to Turn Patient Records, Genome Data into Something Biologists Can Use
A little company on Vancouver Island has its sights set on one of the big challenges of the day in healthcare software. It is trying to piece together the vast puzzle of data on human health—everything from patient medical records, tissue or blood sample readings from the lab, and genomic data—and package it all in … Continue reading “Genologics Aims to Turn Patient Records, Genome Data into Something Biologists Can Use”
Visible Measures Rides Susan Boyle’s Coattails to Viral Video Fame, But It’s Got Something Even Bigger Planned
If you followed news articles mentioning Visible Measures, you might get the impression that the Boston startup’s technology is devoted entirely to tracking viral Web videos. An article in Sunday’s New York Times, for example, cited Visible Measures’ statistics on singing sensation Susan Boyle; it turns out that clips of her performances on “Britain’s Got … Continue reading “Visible Measures Rides Susan Boyle’s Coattails to Viral Video Fame, But It’s Got Something Even Bigger Planned”
Sen. Maria Cantwell and Nathan Myhrvold Talk Statewide Innovation at Intellectual Ventures Lab Ceremony
It’s not every day you get to watch a U.S. senator swallow a swirling ball of liquid nitrogen-cooled foam (yuzu-flavored, no less). Talk about a palate cleanser. That was just one stop along a rather surreal press tour and ribbon-cutting ceremony this morning at the Intellectual Ventures Laboratory in Bellevue, WA, as Sen. Maria Cantwell … Continue reading “Sen. Maria Cantwell and Nathan Myhrvold Talk Statewide Innovation at Intellectual Ventures Lab Ceremony”
Vical Raises $20M in Private Stock Placements
Vical (NASDAQ: [[ticker:VICL]]), the San Diego biotech developing a vaccine for the H1N1 swine flu, says it has raised about $20 million in private stock sales arranged with several institutional investors. The overall deal includes a $4.6 million commitment announced today from Special Situations Funds, a New York institutional investor. The company says it is raising approximately $15.4 million … Continue reading “Vical Raises $20M in Private Stock Placements”
Icahn Wins Key Endorsement In Proxy Fight With Biogen Idec
Carl Icahn has gotten the support of a key outside voice in his proxy fight with Biogen Idec. The billionaire investor received an endorsement from RiskMetrics Group for two of the four candidates he has nominated to the 13-member board of the Cambridge,MA-based biotech company (NASDAQ: [[ticker:BIIB]]). Riskmetrics, formerly known as ISS, recommended shareholders vote … Continue reading “Icahn Wins Key Endorsement In Proxy Fight With Biogen Idec”
Visible Raises $6M, Vulcan Goes Deep with BiPar, IdeaScale Serves White House, & More Seattle-Area Deals News
It was a relatively light week for deals in the Northwest, perhaps owing to the holiday weekend. But there was still action in biotech, marketing software, and alternative energy. —Kennewick, WA-based Infinia raised $14.1 million in debt financing out of a $50 million offering. The company, which is backed by Vulcan Capital, Khosla Ventures, and … Continue reading “Visible Raises $6M, Vulcan Goes Deep with BiPar, IdeaScale Serves White House, & More Seattle-Area Deals News”
Homegrown VCs a Vanishing Breed, Cardiologist Eric Topol Sees a Revolution in Wireless Health, Local Companies Raise Capital, & More San Diego BizTech News
It seems as though a number of San Diego tech companies saw the week before the Memorial Day weekend as a time to clear the decks, launch a few online products, and to raise some more capital. We also highlight the emergence of wireless healthcare and add some perspective to San Diego’s homegrown venture capital firms. —I … Continue reading “Homegrown VCs a Vanishing Breed, Cardiologist Eric Topol Sees a Revolution in Wireless Health, Local Companies Raise Capital, & More San Diego BizTech News”
Dog Patch Lab—An Entrepreneur’s Kennel
Ceiling fans lolling high overhead, starfish in trawler nettings slung on one wall, funked-out wood floors, bar stools, round tables, comfy couches, a big bowl laden with fruit, huge windows overlooking the pier. No cubicles, just work areas with signs indicating where one company ends and another begins—and sometimes no signs at all. The whole … Continue reading “Dog Patch Lab—An Entrepreneur’s Kennel”
Who’s Driving Innovation in the Life Sciences Ecotope? Some Ideas for Keeping Early-Stage Venture Alive
New England is indeed a fertile ground for new technologies in healthcare and the life sciences, but the number of VCs doing the early and risky stuff is dwindling. We will probably see the number of start-ups in our space dive this year. Keeping to ol’ Darwin’s creed of adaptation, we simply have to find … Continue reading “Who’s Driving Innovation in the Life Sciences Ecotope? Some Ideas for Keeping Early-Stage Venture Alive”
Shareholder Showdown at Amylin Headquarters
A battle for control of Amylin Pharmaceuticals (NASDAQ: [[ticker:AMLN]]) that began last year will come to a final showdown tomorrow at the company’s annual shareholder meeting. Challenging Amylin’s leadership in the proxy fight is Carl Icahn, the billionaire New York investor, who owns approximately 10.5 percent of Amylin’s stock, and Eastbourne Capital Management, a hedge … Continue reading “Shareholder Showdown at Amylin Headquarters”
Tekmira Tackles RNAi Delivery Challenge, With Alnylam, Roche Putting It to the Test
The people at Cambridge, MA-based Alnylam Pharmaceuticals are widely recognized as leaders in the field of RNA interference, but they are quick to acknowledge they don’t do it all themselves. They lean on partners, including one important one in the Northwest, Vancouver, BC-based Tekmira (TSX: [[ticker:TKM]]). This Canadian company’s reputation as a key player in … Continue reading “Tekmira Tackles RNAi Delivery Challenge, With Alnylam, Roche Putting It to the Test”
What I Like About Innovation in New England
There is a lot of great stuff going on in Boston right now. Granted, there are still many signs of paralysis throughout the system, but there are also many high-quality entrepreneurs in the marketplace attempting to change the world with exciting, innovative solutions to some very large problems. June 2009 has been dubbed “Innovation Month … Continue reading “What I Like About Innovation in New England”
Making the Smart Grid Smarter Through Instant Messaging: A Talk with EnerNOC’s David Brewster
Late last month, Boston-based smart grid company EnerNOC (NASDAQ: [[ticker:ENOC]]) revealed that it’s looking to the consumer Internet for a new way of managing its “demand response” pools. These are the groups of companies and municipalities that, in return for cash payments from EnerNOC, sign up to have their electrical consumption dialed back remotely in … Continue reading “Making the Smart Grid Smarter Through Instant Messaging: A Talk with EnerNOC’s David Brewster”
UW Business Plan Competition Kick-Starts Companies to Action
The University of Washington Business Plan Competition hosted by the Center for Innovation and Entrepreneurship (CIE) came to a close Thursday night, handing out $60,000 in prize money to an impressive field of technologies. It brought a bittersweet end for my team’s company, Shockmetrics. We did not take the $25K grand prize award that we … Continue reading “UW Business Plan Competition Kick-Starts Companies to Action”
Croaking Frogs, Swiss Cheese, and Close Calls—A $25K Winner’s Tale
The 2009 University of Washington Business Plan Competition has come and gone. It started with something like 90 business plan submissions that were paired down to 33 set to compete in an investment round. That round can best be described as a Las Vegas-style trade show with 33 booths, over two hundred judges, team shirts, … Continue reading “Croaking Frogs, Swiss Cheese, and Close Calls—A $25K Winner’s Tale”
Commemorative Day, Innovative Month
Barring any earth-shattering late-breaking news, my Xconomy colleagues and I will knock off a little early today and be back online next Tuesday after the Memorial Day holiday. We’re looking forward to a little R&R as we gear up for next month, which is so chock full of innovation-related events—including our own Xconomy Summit on … Continue reading “Commemorative Day, Innovative Month”
The New Vulcan Capital: Steve Hall and Chris Temple on Working with Paul Allen, Investing with Partners, and Banking On Seattle Innovation
It feels like the dawn of a new era at Vulcan Capital. The private investment group, which manages billionaire Paul Allen’s personal and professional holdings, has been very private—until now, it seems. Coming off a series of high-profile successes (like BiPar Sciences, a $100 million-plus return on $13 million investment) and failures (like the Charter … Continue reading “The New Vulcan Capital: Steve Hall and Chris Temple on Working with Paul Allen, Investing with Partners, and Banking On Seattle Innovation”
UW Business Plan Competition Yields $25K Awardee, Nanocel, and Many Other Winners
From an initial field of 90 teams last month, down to 33 presenters, and the sweet 16 and finals yesterday, the business plan competition at the University of Washington has captivated us with the spirit and determination of these student innovators and their veteran advisors. Some 30 judges from the Seattle-area innovation community participated in … Continue reading “UW Business Plan Competition Yields $25K Awardee, Nanocel, and Many Other Winners”
$6.3M Financing Deal Shines Light on Startup Digital Lumens
[Updated: See editor’s note below] It has come to light that Digital Lumens, a Salem, MA-based developer of energy-efficient lighting products, has raised $6.3 million in a round of equity financing, according to an SEC filing. The filing doesn’t specifically list investors in the round, but it does say that board members include Jon Karlen … Continue reading “$6.3M Financing Deal Shines Light on Startup Digital Lumens”
X Prize Founder Peter Diamandis Targets Breakthroughs With More Incentive Prizes
It has been almost five years since a team of aerospace entrepreneurs funded by a software billionaire claimed the Ansari X Prize, the $10 million prize competition to develop the first reusable private spacecraft. Since then, the frustrated space enthusiast who established the X Prize as a way to re-ignite astronautical innovation, Peter Diamandis, has … Continue reading “X Prize Founder Peter Diamandis Targets Breakthroughs With More Incentive Prizes”
People Doing Strange Things With Soldering Irons: A Visit to Hackerspace
You might think that all of the engineering brainpower in cities like Boston, San Diego, and Seattle is sucked up by high-voltage startups or by giant employers in the software, server, or semiconductor businesses. But proof that there’s plenty of surplus technological creativity in these regions is popping up in odd places like Willoughby & … Continue reading “People Doing Strange Things With Soldering Irons: A Visit to Hackerspace”
Brad Feld’s Latest Investment: Students
Yet another Boston-area innovation institution has been hit by the recession: the summer internship. Jackie Wilbur, the director of the Career Development Office at MIT’s Sloan School of Management, says that in this year’s tight job market, many local startups that would ordinarily take on Sloan students as summer interns simply can’t afford it. Enter … Continue reading “Brad Feld’s Latest Investment: Students”
Biomatrica Wants to Make Labs Greener by Unplugging the Freezer
Walk into any biology lab, and you’ll see freezers full of precious biological samples that researchers typically use to gain insights on cancer, heart disease or some other ailment. The freezers run around the clock for years, sucking up lots of electricity. But what if scientists could store their samples at room temperature by just … Continue reading “Biomatrica Wants to Make Labs Greener by Unplugging the Freezer”
Vulcan’s Biotech Windfall, BiPar Sciences, Sparks “Fundamental” Cancer Advance
Vulcan Capital, the investment group that controls billionaire Paul Allen’s fortune, generates lots of headlines for its big losses in Charter Communications. But few people have made much of the fact that Seattle-based Vulcan generated one of the biggest venture returns in the country this year from a cancer drug developer it founded four years … Continue reading “Vulcan’s Biotech Windfall, BiPar Sciences, Sparks “Fundamental” Cancer Advance”
Elixir Sips $12M, Might Eventually Guzzle $500M; Evergreen Solar Offers $60M in Stock; BigBelly Bags $3.2M; & More Boston-Area Deals News
This week saw a variety of small-to-medium deals—and one potentially huge one. —Avila Therapeutics of Waltham, MA raised $5 million from existing investors in a debt and options financing that could reach up to $20 million, according to an SEC fling. Avila is developing drugs that form strong, covalent bonds with target proteins. —Ashaway, RI-based … Continue reading “Elixir Sips $12M, Might Eventually Guzzle $500M; Evergreen Solar Offers $60M in Stock; BigBelly Bags $3.2M; & More Boston-Area Deals News”
Seattle Startup, Survey Analytics, Powers Obama’s Open Government Dialogue Site
It’s a good day for Vivek Bhaskaran. The co-founder of Seattle-based Survey Analytics, a marketing and customer relations startup that has been bootstrapped since 2004, has just scored a big win with the White House. The company’s software platform for hosting and managing feedback communities (engaging customers and gathering unsolicited feedback), called IdeaScale, is being … Continue reading “Seattle Startup, Survey Analytics, Powers Obama’s Open Government Dialogue Site”
Inside the UW Business Plan Competition—How One Team Got to Today’s Sweet 16
Today is the Sweet 16 and final round of the University of Washington’s annual business plan competition. Yesterday, I was asked to write an article about my experiences thus far. The fact that I’m writing this article during time that I should be practicing my pitch or, if I were really smart, trying to sleep, … Continue reading “Inside the UW Business Plan Competition—How One Team Got to Today’s Sweet 16”
Will 2009 Be The Year of Crowdsourcing?
Ultra Light Startups is a new meetup group in Boston that holds panel events to discuss concepts, ideas, and models that help startups launch more quickly and cheaply. I organized the first event earlier this May to discuss crowdsourcing and how companies can leverage the model. The following are ideas that emerged from the pitches … Continue reading “Will 2009 Be The Year of Crowdsourcing?”
Xconomy Battle of the Tech Bands Finds Judges Who Rock
With summer on its way in, we’re starting to gear up for Xconomy’s Battle of the Tech Bands, which is happening on July 30 at the WTIA Summer Celebration at the Pyramid Alehouse in Seattle. If you or someone you know plays in a band that has at least one member who hails from a … Continue reading “Xconomy Battle of the Tech Bands Finds Judges Who Rock”
Fallbrook Spinout Viryd Technologies Raises $2.2 Million for Wind Turbine Technologies
San Diego’s Fallbrook Technologies spent a decade developing its innovative transmission technology before it finally raised $25.4 million in its first round of venture funding four months ago. Before that, the company had raised $25 million from more than 80 private investors. Now it’s happening again at Viryd Technologies, a Fallbrook spinout that is adapting … Continue reading “Fallbrook Spinout Viryd Technologies Raises $2.2 Million for Wind Turbine Technologies”
The $1,000 Genome is Coming: How Will It Change the World?
The big headline from the OVP Tech Summit last week came when UW computer science professor Ed Lazowska called on everyone to quit being so smug, and get serious about turning Seattle into a major league innovation cluster. But later that day, I was lucky to be the only journalist in the room, along with … Continue reading “The $1,000 Genome is Coming: How Will It Change the World?”
Dartmouth Biz Plan Competition Elevates Novoculi, Developer of Non-Invasive Diabetes Test
There was plenty of chatter around the MIT $100K Entrepreneurship Competition in Boston earlier this month. The Cambridge, MA-based institute is one of the world’s leading hotbeds for entrepreneurship, but it shouldn’t completely drown out the buzz we’re hearing from Hanover, NH. That’s where Dartmouth College’s Dartmouth Entrepreneurial Network (DEN) named the winner of a … Continue reading “Dartmouth Biz Plan Competition Elevates Novoculi, Developer of Non-Invasive Diabetes Test”
Dendreon’s Manufacturing Challenge, Archus Cuts Deep, Accelerator Company Launches & More Seattle-Area Life Sciences News
Seattle’s biotech companies must be trying to get a lot done before Memorial Day weekend, because we had reports on deals, layoffs, and big strategic moves. —Dendreon (NASDAQ: [[ticker:DNDN]]) has spent years trying to prove that its immune-boosting therapy for prostate cancer really works, and now it has to show it can make enough of … Continue reading “Dendreon’s Manufacturing Challenge, Archus Cuts Deep, Accelerator Company Launches & More Seattle-Area Life Sciences News”
Amylin Nears Endgame With Icahn, Sciele Pharma Declares Victory in Buyout, Nanogen Files Bankruptcy, & More San Diego Life Sciences News
With the proxy battle for control of San Diego’s Amylin Pharmaceuticals coming to a crucial shareholder vote next Wednesday (and with a similar fight at Biogen Idec coming to a head on June 3), we decided it was an opportune time to launch a life sciences news roundup at Xconomy San Diego. We’ve also wrapped … Continue reading “Amylin Nears Endgame With Icahn, Sciele Pharma Declares Victory in Buyout, Nanogen Files Bankruptcy, & More San Diego Life Sciences News”
MIT, E8 Pharmaceuticals Sue Second California Firm over Genotyping Patent
The stellar plaintiffs in a patent lawsuit over genotyping technology developed at MIT are raising the stakes by dragging a second California company into the dispute. In 2008, MIT and E8 Pharmaceuticals, a Cambridge, MA-based startup created by MIT biologist David Housman and Harvard biologist Richard Mulligan, sued Santa Clara, CA-based Affymetrix for allegedly including … Continue reading “MIT, E8 Pharmaceuticals Sue Second California Firm over Genotyping Patent”
Sciele Pharma Expands Into Pain Market With Victory Pharma Buyout
Sciele Pharma, an Atlanta, GA, pharmaceutical company owned by Japan’s Shionogi & Co., says it is acquiring San Diego-based Victory Pharma for $150 million. Sciele specializes in the sales, marketing and development of branded drugs for cardiovascular diseases, diabetes, women’s health, and pediatrics. The acquisition adds Victory’s lead product, a once-daily sustained release formulation of … Continue reading “Sciele Pharma Expands Into Pain Market With Victory Pharma Buyout”
San Diego’s Homegrown VCs Waning, But Out-of-Town VCs Make Up the Difference
Here’s a question that CEOs might be able to relate to: What should you do when the purring financial machinery under your control just doesn’t feel right (and the anecdotal evidence suggests something has gone haywire) but your outside auditor is saying, “Nope. Everything is looking pretty normal to me.” In this particular case, the … Continue reading “San Diego’s Homegrown VCs Waning, But Out-of-Town VCs Make Up the Difference”
Genzyme, Isis Cholesterol Drug Reaches Goal in Pivotal Study, Paving the Way to FDA
[[Update below]] Genzyme and Isis Pharmaceuticals have bet big on a new kind of cholesterol-lowering drug, and today the companies said it worked in a pivotal clinical trial. Mipomersen, a drug designed to block production of a protein that carries LDL cholesterol in the blood, reached its goal in a study of 51 patients with … Continue reading “Genzyme, Isis Cholesterol Drug Reaches Goal in Pivotal Study, Paving the Way to FDA”
Alex Castro of Delve Networks on the Future of Internet Video
“There are a quarter of a billion websites on Planet Earth, and most of them will want video.” Now there‘s a market to put hair on your chest—the stat comes courtesy of Alex Castro, the chief executive of Seattle startup Delve Networks. I called up Castro last week, in part to ask him about his … Continue reading “Alex Castro of Delve Networks on the Future of Internet Video”
MocoSpace’s Winning Formula for Feature-Phone Social Networking
MocoSpace is one of Boston’s hidden technology success stories. The four-year-old startup, located on the second floor of a classic old office building near Boston’s South Station, has built what is probably the world’s largest standalone social network for mobile phone owners (that is, one that isn’t merely the mobile counterpart of a primarily Web-based … Continue reading “MocoSpace’s Winning Formula for Feature-Phone Social Networking”
PATH Sparks Market for “Ultra Rice” in India, Through Lunches For 60,000 Schoolchildren
[[Corrected version May 22]] One of the big ideas for tackling global malnutrition that’s been percolating for years at Seattle-based PATH is showing signs of its first real momentum in the marketplace. More than 60,000 children in India are now getting a daily serving of “Ultra Rice” fortified with iron as part of their school … Continue reading “PATH Sparks Market for “Ultra Rice” in India, Through Lunches For 60,000 Schoolchildren”
Cardiologist Eric Topol Outlines Goals for San Diego’s West Wireless Healthcare Institute
As a scientific advisor to CardioNet (NASDAQ: [[ticker:BEAT]]) (before the San Diego startup went public last year and moved to Pennsylvania), Eric Topol was in a position to see the coming wave of next-generation wireless technologies in healthcare. Among other things, Topol is the chief academic officer at Scripps Health in San Diego and director … Continue reading “Cardiologist Eric Topol Outlines Goals for San Diego’s West Wireless Healthcare Institute”
Dendreon Drug Works, But Can It Manufacture Enough to Meet Demand?
The most successful homegrown biotech company from Seattle, Immunex, ultimately stumbled when it couldn’t keep up with feverish demand for its big rheumatoid arthritis drug. Now investors want to make sure another Seattle-based biotech, Dendreon, doesn’t drop the ball on manufacturing. Dendreon (NASDAQ: [[ticker:DNDN]]) has been riding a wave of enthusiasm since last month, when … Continue reading “Dendreon Drug Works, But Can It Manufacture Enough to Meet Demand?”
Biogen Idec Rebuts Icahn Attack, GlaxoSmithKline Quietly Spins Off Tempero Pharmaceuticals, Knome Launches Cheaper Sequencing Service, & More Boston-Area Life Sciences News
New CEOs, new financings, new approvals, and new data—it was an interesting week for New England’s life sciences companies. —Cambridge, MA-based Molecular Insight Pharmaceuticals (NASDAQ:[[ticker:MIPI]]) named a new president and CEO, Daniel Peters, just months after giving that post to co-founder John Babich. Babich will stay on as chief scientific officer of Molecular, which is … Continue reading “Biogen Idec Rebuts Icahn Attack, GlaxoSmithKline Quietly Spins Off Tempero Pharmaceuticals, Knome Launches Cheaper Sequencing Service, & More Boston-Area Life Sciences News”
Startup Targets Business Users With iPhone Graphics App
By some estimates, some 40,000 software applications have been developed for the Apple iPhone. But with a few notable exceptions, such as Apperian, the Boston startup that Wade profiled earlier this year, not many companies are working on business apps for the versatile mobile phone. So today’s introduction of a new iPhone app by MeLLmo, … Continue reading “Startup Targets Business Users With iPhone Graphics App”
Elixir Raises $12 Million, Says Drug Trial Could Lead to Novartis Purchase
Two major pieces of news from Elixir Pharmaceuticals today: first, the Cambridge, MA-based drug maker has just completed a $12 million round of equity financing led by MPM Capital, which joins current investors ARCH Venture Partners, Oxford Bioscience Partners, the Omega Fund and Physic Ventures. Kenneth Greenberg from MPM Capital will join Elixir’s Board of … Continue reading “Elixir Raises $12 Million, Says Drug Trial Could Lead to Novartis Purchase”
CoAptus Medical, With $3M in Hand, Seeks to Seal Up Heart Defects that Lead to Stroke
New England Patriots linebacker Tedy Bruschi suffered a stroke back in 2005, because he had a hole in his heart that allowed a blood clot to pass to his brain. State-of-the-art treatment at the time was for doctors to do surgery, patching it up with an implantable metal-and-fabric device. If Redmond, WA-based CoAptus Medical is … Continue reading “CoAptus Medical, With $3M in Hand, Seeks to Seal Up Heart Defects that Lead to Stroke”