The backstory wasn’t exactly auspicious as Red Herring publisher and tech conference organizer Alex Vieux convened the North America 100 in San Diego yesterday saying, “This is an economic crisis whose end is not near.” In a bid to sound positive, Vieux added that a crisis also represents an opportunity “that is too good to … Continue reading “Advice for Startups in Gloomy Times: Outwit, Outplay, Outlast”
Category: National
Inside View of the MIT 100K Competition—How One Team Got to Tonight’s Finals
We were checking in at the front desk for one of the $100K events, and the security guard asked me, “So, the 100K—the ‘K’ is for kilometers? It’s some sort of race?” No, it’s not a race, it’s MIT’s entrepreneurship competition. We’re the Web/IT track winner, and tonight we’ll be competing for the $100K grand … Continue reading “Inside View of the MIT 100K Competition—How One Team Got to Tonight’s Finals”
Seattle is “Minor League” Innovation Town, So We Shouldn’t Be So Smug, Tech Leaders Say
Seattle can be a very politically correct place, and one very un-PC thing to say is that we’re a second-rate burg when it comes to spawning innovative industries of the future. But Ed Lazowska, one of Seattle’s gutsiest public intellectuals, let it rip yesterday in front of a small gathering of about 100 technology elites … Continue reading “Seattle is “Minor League” Innovation Town, So We Shouldn’t Be So Smug, Tech Leaders Say”
Follica Gets New CEO, Gears Up for More (Hair and Business) Growth
Follica, the Boston-area startup out to bring a scientific approach to helping hair-loss sufferers re-grow their locks, is preparing for some new growth of its own. The firm, run since its late 2006 inception by founding CEO Daphne Zohar of Boston’s PureTech Ventures, announced today the hiring of a new president and CEO, William Ju, … Continue reading “Follica Gets New CEO, Gears Up for More (Hair and Business) Growth”
Gerry Langeler of OVP on Digital Energy and the Cyclical Nature of Venture Capital
Maybe it’s not such a bad time to be an investor after all. OVP Venture Partners, based in Kirkland, WA, held its sixth annual Technology Summit today at the Four Seasons Hotel in downtown Seattle, and the mood was decidedly upbeat. The crowd was a real who’s who of the technology and life sciences industries; … Continue reading “Gerry Langeler of OVP on Digital Energy and the Cyclical Nature of Venture Capital”
Amylin Co-Founder Sides with Rebels in Proxy Fight
Amylin Pharmaceuticals (NASDAQ: [[ticker:AMLN]]) co-founder and original CEO Howard Greene is urging shareholders to vote for Carl Icahn’s or Eastbourne Capital Management’s proposed slate of directors, the Associated Press is reporting today. Greene’s support for dissident nominees adds new twist to a hot proxy fight at the diabetes drug maker. In a letter to shareholders … Continue reading “Amylin Co-Founder Sides with Rebels in Proxy Fight”
Taligen Raises $26M For Inflammation Drugs
Taligen Therapeutics, the Cambridge, MA-based developer of drugs for inflammatory diseases, has raised $26 million out of a $65 million financing round, according to a regulatory filing. The investors in the company weren’t named in the document, although Nick Galakatos of Clarus Ventures, Ed Hurwitz of Alta Partners, and Timothy Mills of Sanderling Ventures are … Continue reading “Taligen Raises $26M For Inflammation Drugs”
San Diego Startup’s Breakthrough Is Making Lasers “the Color of Heat”
One understandable reaction to Daylight Solutions, a 23-employee startup that has developed a breakthrough in semiconductor-based, mid-infrared laser technology, might be to ask, “Where did this company come from?” The suburban San Diego company says its high-power lasers, about the size of a small box of matches, can be used in medical diagnostics, in environmental … Continue reading “San Diego Startup’s Breakthrough Is Making Lasers “the Color of Heat””
Boston VCs Grok Social Media—So Can We Please Not Tell That Facebook Story Anymore?
The X Factor, which debuted last week without yet having a name, is a mostly weekly column featuring conversations with local innovators, entrepreneurs, and investors. It’s a legendary story of doom here in Boston (folks around here kind of like gloomy stories)—how the local VCs passed on this idea called Facebook, the kids from Harvard … Continue reading “Boston VCs Grok Social Media—So Can We Please Not Tell That Facebook Story Anymore?”
Geezeo Goes White Label, Partners with Stanford Credit Union
Hartford, CT-based Geezeo—which was one of the first New England Internet startups Xconomy ever profiled, back in August 2007—announced late Monday that it’s found the first customer for its new institutional service, a personal financial management suite it unveiled in February. Geezeo has focused up to now on providing financial management tools directly to consumers … Continue reading “Geezeo Goes White Label, Partners with Stanford Credit Union”
Dendreon and Cell Therapeutics Sell Stock, Microsoft Buys BigPark, Calistoga Raises $30M, & More Seattle-Area Deals News
The days have gotten longer, and deals are really flowing in the Northwest. In the past week, there has been quite a bit of activity across different sectors of biotech, energy, and software. —Luke reported that Seattle-based Cell Therapeutics (NASDAQ: [[ticker:CTIC]]) sold $20 million worth of common stock, and warrants to buy stock, to a … Continue reading “Dendreon and Cell Therapeutics Sell Stock, Microsoft Buys BigPark, Calistoga Raises $30M, & More Seattle-Area Deals News”
Google, Microsoft May Help Usher in Personalized Medicine Wave, Says George Church
The genomic era hasn’t yet produced a revolution in personalized medicine, but it’s coming, says Harvard University geneticist George Church. Major tech companies like Google and Microsoft are making it their business to help people keep track of their health data—side-by-side with their genome sequence data (if they’ve got it). The adoption of these technologies … Continue reading “Google, Microsoft May Help Usher in Personalized Medicine Wave, Says George Church”
Q&A With Slacker Founder: The Demand for Free Online Music Just Won’t Quit
Two years ago, Dennis Mudd summoned his team of former Internet music executives and started Slacker, an online music service that offers personalized radio stations. The big idea was to mix the streaming music from Internet radio stations with personalized content according to listeners’ liking. When you want to listen to Led Zeppelin only, Slacker … Continue reading “Q&A With Slacker Founder: The Demand for Free Online Music Just Won’t Quit”
Hydrovolts Hopes to Flip Open Door to Hydropower with Novel Underwater Turbine
Burt Hamner, founder and CEO of the tiny Seattle startup Hydrovolts, has an idea he hopes will revolutionize the hydropower industry. His invention, the “flip wing” turbine, is still in development. It is a simple and cheap spin on the paddle wheel, but comes with a twist that boosts its power production. The turbine is … Continue reading “Hydrovolts Hopes to Flip Open Door to Hydropower with Novel Underwater Turbine”
Wistia Retargets Video Sharing and Measurement Technology for Small Business
I last wrote about Lexington, MA-based Wistia in September 2008, which, I’m sure you’ll remember, was approximately when the economy went all to hell. CEO Chris Savage said it was clear by October that Wistia’s original business model—licensing its Web-based video-sharing platform to large enterprises—was insufficient. So this week the startup is launching a reconfigured … Continue reading “Wistia Retargets Video Sharing and Measurement Technology for Small Business”
Icahn Throws Down the Gauntlet, Attacks Biogen Idec’s “Failed Leadership”
Billionaire investor Carl Icahn made a relatively softball argument a year ago about why shareholders should throw out the management slate for the Biogen Idec (NASDAQ: [[ticker:BIIB]]) board and vote for his nominees instead. It didn’t work. This time, he’s launching a blistering attack that accuses the company of botching its 2003 merger with Idec … Continue reading “Icahn Throws Down the Gauntlet, Attacks Biogen Idec’s “Failed Leadership””
Cell Therapeutics Raises $20M from Single Investor, Hopes to Unload $89.2M in Debt
[[Update with corrected Zevalin sale price]] Cell Therapeutics is trying to get rid of a major load of debt. The Seattle biotech company said today it has sold $20 million worth of common stock and warrants to buy stock to a single unnamed institutional investor. It hopes to swap some of that money, along with … Continue reading “Cell Therapeutics Raises $20M from Single Investor, Hopes to Unload $89.2M in Debt”
How Microsoft BizSpark Is Doing With Startups—And How It Can Do Better
Last November, Microsoft began an ambitious experiment. It would offer free software, development tools, and technical support to startup companies around the world, in exchange for getting its technology into the hands of young developers—and a small fee when startups exit the program. BizSpark, as the program is called (not to be confused with BigPark, … Continue reading “How Microsoft BizSpark Is Doing With Startups—And How It Can Do Better”
MIT 100K and Energy Prize—Impressions From the Finalist Party
The five track winners for the MIT 100K business plan competition were announced on Friday. These teams will compete in the finals on Wednesday, along with the winner of its sister contest, the MIT Clean Energy Prize competition (that team will be announced next Tuesday). All five track winners, and three of the five Energy … Continue reading “MIT 100K and Energy Prize—Impressions From the Finalist Party”
Avedro Adds $10M to Coffers, Eyes New Vision-Correction Tech
[[Updated: please see editor’s note below]] Avedro, a Waltham, MA-based startup developing a vision-correction procedure, has landed $10 million in a Series B round of equity financing, according to an SEC filing. New investor Flagship Ventures of Cambridge, MA, led the financing round, which included all previous backers from the firm’s first-round financing, Avedro CEO … Continue reading “Avedro Adds $10M to Coffers, Eyes New Vision-Correction Tech”
How Coaching T-Ball Is Like Running a Startup: Insights From Matt Hulett of Mpire
While the Mariners are still in contention for the American League West lead, I thought it might be useful to make some analogies between baseball teams and startup companies. This came out of a recent chat I had with Matt Hulett, the chief executive of Seattle-based Mpire, makers of the Widgetbucks ad network and AdXpose … Continue reading “How Coaching T-Ball Is Like Running a Startup: Insights From Matt Hulett of Mpire”
Dendreon Raises $197M in Stock Offering
Dendreon raised $197.4 million in the offering it announced last week, according to a regulatory filing. The Seattle biotech company (NASDAQ: [[ticker:DNDN]]) sold 10.7 million shares of stock at $18.45 apiece last Thursday, about a 15 percent discount on the closing market stock price of $19.76 that day. The sale is expected to close on … Continue reading “Dendreon Raises $197M in Stock Offering”
Personalized Medicine—A Tall Mountain
Despite an avalanche of new genomic information, the slope upward to applying it widely in medicine looks steep. This picture was laid out bluntly by biology pioneers Walter Gilbert and George Church at Xconomy’s biotechnology forum on Thursday, April 30. They saw big problems with both investment and public awareness. Their remarks were particularly striking … Continue reading “Personalized Medicine—A Tall Mountain”
NBC Universal Invests in EveryZing; CEO Says Media Companies Have Gotten Religion About Search
EveryZing, the Cambridge, MA-based maker of search-related software for media companies, announced today that it has raised $8.25 million in Series C funding, including $3 million from Peacock Equity Fund, the venture investing wing of General Electric and NBC Universal. At the same time, EveryZing said NBC Universal will deploy its search technology across all … Continue reading “NBC Universal Invests in EveryZing; CEO Says Media Companies Have Gotten Religion About Search”
Vical Developing Vaccine for Swine Flu, Acadia’s Stock Almost Doubles on Biovail Deal, Qualcomm Launches Business Plan Contest, & Other San Diego BizTech News
Although the financial meltdown has hit San Diego’s venture community pretty hard, Lux Capital’s Larry Bock says he made his most-successful investments during the biotech nuclear winter of the early 1990s. So what areas of venture innovation seem promising today? That’s what Xconomy is here for, my friends. Read on. — Serial healthcare entrepreneur James … Continue reading “Vical Developing Vaccine for Swine Flu, Acadia’s Stock Almost Doubles on Biovail Deal, Qualcomm Launches Business Plan Contest, & Other San Diego BizTech News”
Sorenson Wants to Become King of High-Quality Internet Video
At a time when Internet video is shifting increasingly to high-resolution images and towards professional-quality production, Sorenson Media is going through a transition of its own. The private online video codec company that was founded in Salt Lake City, UT, is joining the move to high-quality delivery with the Sorenson 360 video-publishing platform for serious … Continue reading “Sorenson Wants to Become King of High-Quality Internet Video”
Battery Ventures Backs ExactTarget, $22M for Tokai Pharmaceuticals, Ironwood Banks $40M in European Deal, & Much Much More Boston-Area Deals News
Sheesh there were a lot of deals last week! Let’s get to it. —Ironwood Pharmaceuticals of Cambridge, MA, earned $40 million in upfront payments as part of a deal giving Barcelona, Spain-based Laboratorios Almirall European development and commercial rights to linaclotide, Ironwood’s experimental drug for irritable bowel syndrome with constipation. The Spanish firm will potentially … Continue reading “Battery Ventures Backs ExactTarget, $22M for Tokai Pharmaceuticals, Ironwood Banks $40M in European Deal, & Much Much More Boston-Area Deals News”
A Brief Guide to Stimulus Act Funding for Health Information Technologies
A major focus of the American Recovery and Reinvestment Act (Stimulus Act) that President Obama signed in February is to improve the quality and expand the scope of health information technology in the United States. One of the central goals is to develop a nationwide health IT infrastructure and transfer all Americans’ health records to … Continue reading “A Brief Guide to Stimulus Act Funding for Health Information Technologies”
Seattle Tech Investment Trends and Themes, From Madrona’s Tom Alberg (Part 2)
In the past month, Luke and I had the opportunity to sit down with Tom Alberg, the co-founder and managing director of Seattle’s Madrona Venture Group, for a wide-ranging discussion. In earlier installments, we’ve reported on Alberg’s thoughts about the future of newspapers, as well as the rise of the high-tech innovation cluster in Seattle, … Continue reading “Seattle Tech Investment Trends and Themes, From Madrona’s Tom Alberg (Part 2)”
So You *Really* Want a Kindle DX? Get One This Month from E Ink for Only $4,000
E Ink, the Cambridge, MA, company that invented the electronic paper technology behind Amazon’s Kindle e-book devices and Sony’s PRS-500 line, announced today that the same 9.7-inch screen going into the new Kindle DX will be available as part of prototype kit that will go on sale this month, before Amazon ships its own device. … Continue reading “So You *Really* Want a Kindle DX? Get One This Month from E Ink for Only $4,000”
Seattle 2.0 Awards Are a Smash; Picnik Cleans Up
In 1939, it was “Gone with the Wind.” 2009’s Academy Awards darling was “Slumdog Millionaire.” And now the Seattle startup community has its own awards sweep: Picnik, the photo-editing software company founded by Mike Harrington and Darrin Massena and led by CEO Jonathan Sposato, took home all four prizes for which it was nominated at … Continue reading “Seattle 2.0 Awards Are a Smash; Picnik Cleans Up”
San Diego Just Beginning to Assess Needs of Emerging Algae Industry
Today is Algae Day plus 10 in San Diego. With all the enthusiasm expressed during the back-to-back events of April 28, I half-expected things would be greener by now. But now the real work begins. The effort is to make San Diego—home of many biologists, entrepreneurs, and lots of sun—nationally recognized as a “big green … Continue reading “San Diego Just Beginning to Assess Needs of Emerging Algae Industry”
Cell Therapeutics Cash To Last Into August
Cell Therapeutics has really been living life on the edge. The Seattle biotech company (NASDAQ: [[ticker:CTIC]]) had just $700,000 in cash left at the end of March, before it got another $6.5 million last month to keep paying the bills. Even after an investor put in another $15 million last month, it’s only enough to … Continue reading “Cell Therapeutics Cash To Last Into August”
Dendreon Sells Shares To Raise $200M For Provenge Manufacturing, Marketing
Dendreon is striking while the iron is hot. The Seattle biotech company said today it is offering 10.7 million new shares of stock to investors, and has hired Deutsche Bank Securities as the sole manager of the offering. Dendreon didn’t disclose the price of the shares, but with its shares trading at $19.50 a share … Continue reading “Dendreon Sells Shares To Raise $200M For Provenge Manufacturing, Marketing”
Why Kindle 2 is the Goldilocks of E-Book Readers
Fans of this column know that I spent months dithering over whether to buy Amazon’s Kindle 2 e-book reader. I had mercilessly panned the original Kindle, mainly for its ungainly looks. And while I was much more impressed by the Kindle 2 when it came out in February, I was put off by the $359 … Continue reading “Why Kindle 2 is the Goldilocks of E-Book Readers”
From MIT Blackjack Team to Amazon Acquisition: The Lexcycle Story
Neelan Choksi says he has an “addictive personality.” That might explain why he carefully orders an orange juice at the espresso bar, while I jack up my caffeine intake with another 12-ounce latte. We’re sitting at the Espresso Vivace in South Lake Union on a quintessentially rainy Seattle afternoon in early May. Choksi’s company, Lexcycle, … Continue reading “From MIT Blackjack Team to Amazon Acquisition: The Lexcycle Story”
Tokai Pharma Reports $22M Round, Developing Drug for Prostate Cancer
[[Updated: see editor’s note below]] Tokai Pharmaceuticals, a Cambridge, MA-based drug developer, says it has landed $22 million in a Series D round of private equity financing. The startup says that its main focus is advancing a new drug for prostate cancer that is unable to be treated with standard testosterone-blocking therapies, according to its … Continue reading “Tokai Pharma Reports $22M Round, Developing Drug for Prostate Cancer”
Targeted Genetics, Mainstay of Gene Therapy, Faces Likely Shutdown
Targeted Genetics, one of the diehards in the field of gene therapy, appears to be near the end of the road. The Seattle-based biotech company said if it is unable to improve its finances by the end of next month, “We plan to begin the process of ceasing operations, seeking bankruptcy protection or otherwise winding … Continue reading “Targeted Genetics, Mainstay of Gene Therapy, Faces Likely Shutdown”
The Recovery Starts Here—Xconomy Announces XSITE 2009 Event to Celebrate Innovation in New England
In case you haven’t noticed it, the recovery is underway. The economy is affecting all aspects of business, of course. But every day here at Xconomy we write about the unrelenting pace of innovation and see firsthand how, if anything, the pace has picked up during the recession—nothing like hard times to get the creative … Continue reading “The Recovery Starts Here—Xconomy Announces XSITE 2009 Event to Celebrate Innovation in New England”
Kalido Collects $5.1 Million for Data Warehouse Management
Burlington, MA-based Kalido, which makes software that helps companies make better use of historical business data, has secured $5.15 million in Series E venture funding, according to documents filed yesterday with the Securities and Exchange Commission. Existing investors Atlas Venture and Matrix Venture Partners led the round, $3.1 million of which has been collected so … Continue reading “Kalido Collects $5.1 Million for Data Warehouse Management”
Qualcomm Launches QPrize Competition
Joining in the latest wave of funding innovation, San Diego’s Qualcomm (NASDAQ: [[ticker:QCOM]]) today launched a new international business plan competition called the QPrize. In a short announcement, the wireless chipmaker said its corporate venture fund has created a pool of $550,000 to provide early stage funding to the most-promising plans submitted by entrepreneurs “who … Continue reading “Qualcomm Launches QPrize Competition”
The Fastest Growing Anti-Virus Software Developer You’ve Never Heard Of
The economy might be stalling, but sales of anti-virus software developed by San Diego-based Eset, which have been almost doubling every year since 2005, are rising fast at the beginning of a classic S-shaped curve of market penetration. I know this because Eset’s founding CEO Anton Zajac, who began his career as a theoretical physicist … Continue reading “The Fastest Growing Anti-Virus Software Developer You’ve Never Heard Of”
A123Systems Founder and MIT’s Cima Behind Startup Entra Pharmaceuticals
More clues about stealthy drug-delivery startup Entra Pharmaceuticals surfaced yesterday on Boston Globe columnist Scott Kirsner’s blog. It turns out that the technical whizzes behind Entra are Yet-Ming Chiang, an MIT engineering professor and founder of Watertown, MA-based advanced battery developer A123Systems, and Michael Cima, another MIT engineering professor, who is a co-founder of life … Continue reading “A123Systems Founder and MIT’s Cima Behind Startup Entra Pharmaceuticals”
Genzyme Offers Glimpse at Growth Engine, New Drugs for High Cholesterol, Gaucher’s
Genzyme is getting to the point where the law of large numbers start to look really daunting. The Cambridge, MA-based biotech company has been so successful for so long, it gets harder every year to sustain the breakneck sales and profit growth that investors in the company have come to expect. So what to do? … Continue reading “Genzyme Offers Glimpse at Growth Engine, New Drugs for High Cholesterol, Gaucher’s”
Dendreon’s Hiring Binge, Calistoga’s Venture Round, ZymoGenetics Unloads Drugs, & More Seattle-Area Life Sciences News
Biotech is a volatile business, and this week hammered home that point. Seattle had layoffs at one important device company (Pathway Medical), a hiring boom at another (Dendreon), and a national report that had some humbling stats about the local life sciences scene. —Dendreon is moving ahead fast to make the most of its good … Continue reading “Dendreon’s Hiring Binge, Calistoga’s Venture Round, ZymoGenetics Unloads Drugs, & More Seattle-Area Life Sciences News”
Brighter Planet Rolls Out Social Web App to Lower Carbon Footprints
Most of us want to help curb global warming, but the tricky part can be how to do our part without splurging on a shiny new Prius or some other expensive measure. Vermont’s Brighter Planet has spent the last few years building a business around providing products and services that help people and businesses cut … Continue reading “Brighter Planet Rolls Out Social Web App to Lower Carbon Footprints”
BakBone Gets a Bargain in $3M Purchase of Asempra’s Technologies
It looked like a small deal when San Diego-based data backup and recovery company BakBone Software acquired the assets of Santa Clara, CA-based Asempra Technologies earlier this week. BakBone shares trade over-the-counter, and the company’s press release mentioned that only $350,000 in cash changed hands. In fact, the value of the overall, cash-and-stock transaction was approximately $3 … Continue reading “BakBone Gets a Bargain in $3M Purchase of Asempra’s Technologies”
The Rise of Seattle’s High-Tech Cluster, As Told By Madrona’s Tom Alberg (Part 1)
One of the great pleasures of being a journalist is listening to influential leaders discuss where they come from and how it affects their strategy. Luke and I recently sat down with Tom Alberg, co-founder and managing director of Seattle-based Madrona Venture Group. In addition to sharing his thoughts on the future of newspapers and … Continue reading “The Rise of Seattle’s High-Tech Cluster, As Told By Madrona’s Tom Alberg (Part 1)”
Ironwood Inks $40M Deal with Laboratorios Almirall, CombinatoRx and Novartis Seek Combo Cancer Drugs, NABsys Nabs $4M, & More Boston-Area Life Sciences Deals
This past week produced a cornucopia of life sciences news, including new partnerships, personnel and real estate changes, venture deals, and some intriguing science. —A team led by UMass Medical School researcher Michael Czech, co-founder of Worcester, MA-based RXi Pharmaceuticals (NASDAQ: [[ticker:RXII]]), reported in the journal Nature that it has come up with an oral … Continue reading “Ironwood Inks $40M Deal with Laboratorios Almirall, CombinatoRx and Novartis Seek Combo Cancer Drugs, NABsys Nabs $4M, & More Boston-Area Life Sciences Deals”
Will Mobile Apps Live Up to the Hype? A View from the iPhone Trenches
I could not be more bullish about smartphones as a platform. The center of gravity in computing is shifting, and the mobile device in your pocket will play a greater and greater role in your life in ways that the non-dreamers among us never thought possible. As the capabilities of these devices increase, there are … Continue reading “Will Mobile Apps Live Up to the Hype? A View from the iPhone Trenches”