Why isn’t public health important enough? This is what I wondered, sitting in a press conference yesterday at Seattle Children’s Hospital Research Institute, listening to high government and business officials talk about the urgent need to foster greater public understanding of biotechnology and why it matters to the future of Washington state and our country. … Continue reading “Why Should the Public Care About Biotech? Why is the Answer Always Jobs?”
Category: National
Brightcove Forges Adobe Alliance, Investors Give in to DemandWare’s $15M Demands, Fate Therapeutics and Stemgent Team Up on Stem Cell Tech, & More Boston-Area Deals News
There’s much to report from New England’s tech and life sciences sectors this week. Let’s get started. —Clarus Ventures of Cambridge, MA, joined with the likes of InterWest Partners and Arch Venture Partners to lead a $10 million Series A financing for Ann Arbor, MI-based Lycera. The startup is developing treatments for autoimmune diseases based … Continue reading “Brightcove Forges Adobe Alliance, Investors Give in to DemandWare’s $15M Demands, Fate Therapeutics and Stemgent Team Up on Stem Cell Tech, & More Boston-Area Deals News”
Investors Dump Anadys Shares on Report of Itchy Side Effect
Did three cases of skin rash prompt Anadys shareholders to act rashly? The company’s stock crashed today after investors interpreted the cases as a warning sign that the company’s hepatitis C drug might not be as safe as expected. The shares (NASDAQ: [[ticker:ANDS]]) fell 40 percent to $3.51, making it the biggest percentage decliner on … Continue reading “Investors Dump Anadys Shares on Report of Itchy Side Effect”
Arena Lays Off 130 Employees After Weight Drug Disappointment
San Diego’s Arena Pharmaceuticals (NASDAQ: [[ticker:ARNA]]) said in a regulatory filing today it’s laying off approximately 130 employees, or 31 percent of its U.S. workforce, over the next four weeks. Check Xconomy’s San Diego layoff tracker here to see our running tally of local tech sector layoffs. In its SEC filing, Arena says, “We believe it is … Continue reading “Arena Lays Off 130 Employees After Weight Drug Disappointment”
Sequenom Reorganizes its Genetic Analysis Business, Trims Workforce
San Diego-based Sequenom said today it’s laying off 30 employees, or 12 percent of its workforce, as part of a broader cost-cutting initiative in the company’s genetic analysis business. The company, which has developed a proprietary, high-performance system for precisely analyzing genetic material, says the restructuring was necessitated by the “continuing weak outlook in 2009 … Continue reading “Sequenom Reorganizes its Genetic Analysis Business, Trims Workforce”
LookStat Closes $500K from Founder’s Co-op, Other Investors
Seattle-based LookStat, which develops Web-based analytics, workflow automation, and earnings tracking software for the microstock photography industry, says it has closed a $500,000 Series A financing round from Founder’s Co-op and individual investors in the Seattle and San Francisco areas. Xconomy broke the preliminary news of the funding (but not the amount) last month, while … Continue reading “LookStat Closes $500K from Founder’s Co-op, Other Investors”
Fate Therapeutics and Stemgent Team Up to Offer Stem Cell Advances to the Research Market
San Diego-based Fate Therapeutics and Stemgent, a provider of stem cell research products headquartered in Cambridge, MA, have joined forces to offer new developments in so-called induced pluripotent stem (iPS) cell technology for research purposes. The joint effort could provide Fate with a new source of money to develop drugs based on the same technology. … Continue reading “Fate Therapeutics and Stemgent Team Up to Offer Stem Cell Advances to the Research Market”
Anadys Hepatitis C Drug Shows Potent Effect in Small Study
San Diego-based Anadys Pharmaceuticals generated a ton of buzz almost four months ago when it offered an early peek at data suggesting its hepatitis C drug might be working, and now a presentation of the full data appears to reinforce the first impression. Anadys’ lead drug candidate, ANA598, was able to wipe out more than … Continue reading “Anadys Hepatitis C Drug Shows Potent Effect in Small Study”
San Diego’s Receding Tide of Venture Funding Reveals Ailing VCs
Venture investors like to talk about transformative change. But it’s becoming increasingly evident that San Diego’s venture capital community is itself in a period of transformative change. The figures we reported this week on local venture investments for the first three months of 2009 were gloomy enough, with $194.6 million going into 15 deals, according … Continue reading “San Diego’s Receding Tide of Venture Funding Reveals Ailing VCs”
GlycoFi Figures Heavily into Drug Giant Merck’s Follow-on Biologics Plans
We’ve seen it before. A large pharmaceutical company buys a small biotech firm, the acquired startup ships its science and technology to the big buyer, and we never hear about the little company again. But GlycoFi, a Lebanon, NH, life sciences startup acquired by U.S. drug giant Merck for $400 million nearly three years ago, … Continue reading “GlycoFi Figures Heavily into Drug Giant Merck’s Follow-on Biologics Plans”
That Giant Sucking Sound? Talent Drain from the Northwest (and Rest of the Nation)
If you want to understand the important local and national trends in talent flow, you need to know Davis Bae. The founder and managing attorney of the Bae Law Group in Seattle, which specializes in immigration law, works with many local startups and employers in the tech community on their immigration and recruiting plans. I’ve … Continue reading “That Giant Sucking Sound? Talent Drain from the Northwest (and Rest of the Nation)”
Amgen Shows Pipeline, Dendreon Revs Up Second Drug, Asemblon Raises $2.9M, & More Seattle-Area Life Sciences News
Cancer research is one of the strengths of the Seattle biotech cluster, and a few companies showed off some of their progress at the American Association for Cancer Research meeting in Denver. No earth was shattered, because most of this involves early-stage clinical trials and animal experiments, but it’s usually a good indicator of what’s … Continue reading “Amgen Shows Pipeline, Dendreon Revs Up Second Drug, Asemblon Raises $2.9M, & More Seattle-Area Life Sciences News”
Five Intriguing Green Startups Seek Angel Bucks on Earth Day
[[Updated 9:30 am Pacific with winners]] I wasn’t around for the first Earth Day back in 1970, but I figure it’s safe to say there weren’t any investment forums celebrating the capitalist pursuit of opportunities in the green revolution. It occurred to me, on Earth Day 2009, that it’s pretty remarkable to see how far … Continue reading “Five Intriguing Green Startups Seek Angel Bucks on Earth Day”
TopCoder—Crowdsourcing Software Long Before Crowdsourcing Got Cool
Can competitions and prizes get you to the Moon? Google thinks so—it’s backing the $30 million Lunar X Prize, which will be awarded to the first privately funded team that sends a remote-controlled robot to the Moon, drives it 500 meters, and collects video of the trip. Back here on Earth, the $10 million Archon … Continue reading “TopCoder—Crowdsourcing Software Long Before Crowdsourcing Got Cool”
NuVasive Acquires New Jersey Spine Disk Maker
San Diego medical device company NuVasive (NASDAQ: [[ticker:NUVA]]) said today it has purchased Rockaway, NJ-based Cervitech in a in cash and stock deal that could be worth as much as $80 million, if the FDA approves Cervitech’s cervical disc replacement device. NuVasive agreed to pay $47 million upfront and another $33 million depending on FDA … Continue reading “NuVasive Acquires New Jersey Spine Disk Maker”
Pop Goes the (Venture) Weasel…
So the first quarter venture funding data were just released and the news for entrepreneurs was decidedly bad. It is pretty clear the party for “easy money”—particularly for cleantech companies–is emphatically over. Venture-backed companies raised only $3.9 billion in Q109, which is basically half what they raised this time a year ago. New England companies … Continue reading “Pop Goes the (Venture) Weasel…”
Mpire Makes Strategic Shift, Unveils Ad-Optimizing Service
Seattle-based Mpire is rolling out a new online-ad optimizing service today, aimed at letting advertisers, marketers, and publishers more accurately assess how well their ads are working. Matt Hulett, Mpire’s CEO, is announcing the technology, called AdXpose (Xconomy loves names with “X” in them), at the AdTech San Francisco conference this morning. But this isn’t … Continue reading “Mpire Makes Strategic Shift, Unveils Ad-Optimizing Service”
NewPath Lands $30M in Deal to Expand Wireless Network Biz
NewPath Networks, a Seattle-based provider of wireless infrastructure, has reeled in $30 million to fuel its continued growth, according to a statement today. New York private equity firm Charterhouse Group invested $20 million in NewPath, and Denver-based venture group Meritage Funds provided the rest of the money. NewPath, founded in 2004, is capitalizing on consumers’ … Continue reading “NewPath Lands $30M in Deal to Expand Wireless Network Biz”
Zenobia Therapeutics, Inspired by Warrior Queen, Focuses on Developing Drug for Parkinson’s Disease
Zenobia Therapeutics is an example of San Diego’s great biotech circle of life. Vicki Nienaber, Zenobia’s founding president and chief scientist, started the specialized drug discovery company almost 11 months ago, after learning that Japan’s Rigaku Americas Corp. was closing ActiveSight, its San Diego-based biotech research division. Nienaber found lab space at the La Jolla … Continue reading “Zenobia Therapeutics, Inspired by Warrior Queen, Focuses on Developing Drug for Parkinson’s Disease”
Infinity Halts Trial of Lead Cancer Drug, Tysabri Sales Short of Projections, Myomo Slashes Staff, & More Boston-Area Life Sciences News
It’s not all bad news this week for New England’s life sciences firms (my headline notwithstanding), but there certainly were a few somber notes. —Infinity Pharmaceuticals (NASDAQ:[[ticker:INFI]]) of Cambridge, MA, halted a late-stage trial of its lead cancer drug among patients with relapsed forms of malignant stomach tumors after interim results showed that more patients … Continue reading “Infinity Halts Trial of Lead Cancer Drug, Tysabri Sales Short of Projections, Myomo Slashes Staff, & More Boston-Area Life Sciences News”
Chumby The Clumsy Goes Global
Chumby is a cute little digital device with a strange story. Duane Maxwell, Chumby’s co-founder and vice president of software development, laughs as he says it began a couple of years ago when Steve Tomlin, a managing member of San Diego’s Avalon Ventures, was staying in a hotel. “They always have an alarm clock on … Continue reading “Chumby The Clumsy Goes Global”
Dataupia Helps Consumer Giants Tackle Big Data
Foster Hinshaw has a theory. The most successful consumer-oriented companies—the Wal-Marts, Amazons, L.L. Beans, and Staples of the world—are successful not just because they understand their customers, but because they can operationalize that understanding. They collect massive amounts of information about past transactions and store it in data warehouses, and they actively mine those warehouses … Continue reading “Dataupia Helps Consumer Giants Tackle Big Data”
Xconomy Forms Partnership With Seattle Times To Strengthen Tech, Life Sciences Coverage
Xconomy’s coverage of technology and life sciences in Seattle is growing fast, and now we’re getting another lift. My colleague Greg Huang and I are happy to say our company has secured a partnership with The Seattle Times, the owner of the most-read local news website in the Northwest. This is the second syndication deal … Continue reading “Xconomy Forms Partnership With Seattle Times To Strengthen Tech, Life Sciences Coverage”
Asemblon Raises $2.9M To Make Hydrogen Fuel Cheaper Than Gas
[[Update with Buddy Ratner comment, 7 am Pacific]] Asemblon, a Redmond, WA-based developer of technology for storing hydrogen fuel, has raised $2.9 million in the first installment of a Series C financing round, Xconomy has learned. The investment is being led by RAB Capital, a London-based hedge fund, and Sojitz Trading of Japan, says Asemblon … Continue reading “Asemblon Raises $2.9M To Make Hydrogen Fuel Cheaper Than Gas”
Parasol Therapeutics Moves to Neighborhood with $3.25M in Seed Funding—Hunting for Universal Therapeutic to Battle Drug-Resistant Flu
Parasol Therapeutics, a stealthy biotech startup co-founded by MIT bioengineering professor Ram Sasisekharan, has raised $3.25 million in a seed round of venture capital to develop new treatments and diagnostics initially for influenza, says Alan Crane, a general partner at Polaris Venture Partners and chairman of Parasol. On top of taking on the global flu … Continue reading “Parasol Therapeutics Moves to Neighborhood with $3.25M in Seed Funding—Hunting for Universal Therapeutic to Battle Drug-Resistant Flu”
User Interfaces, Cloud Computing, and Ray Ozzie—A Guide to the Season’s Tech Events
It is high season for tech gatherings in Seattle. The next couple of weeks will feature a dizzying array of events chock-full of compelling computing content, not to mention top-tier networking. How is a busy entrepreneur, researcher, or investor to choose which ones to attend? Let Xconomy be your guide… —This Wednesday, April 22 (yes, … Continue reading “User Interfaces, Cloud Computing, and Ray Ozzie—A Guide to the Season’s Tech Events”
Xconomy Wins Its Twitter Struggle–How Wade Reclaimed Our Good Name
After a months-long struggle, Xconomy has finally evicted the squatter who usurped our namesake account on Twitter. It took perseverance, Zen, and knowing folks in high Tweeting places to pull it off. But as of last night, Xconomy is on the Twitter air. Thank you Bijan. Thank you Twitter. And thanks to CNET for the … Continue reading “Xconomy Wins Its Twitter Struggle–How Wade Reclaimed Our Good Name”
Are You Who You Say You Are? Prove It
Think about a database of 360 billion human identity attributes—names, addresses, dates of birth, credit behavior. That is what San Diego-based ID Analytics‘ has created with its enormous new ID Network. It’s a sophisticated computer technology built to analyze payments and applications for loans, cell phones, and credit cards; it looks for fabricated names and … Continue reading “Are You Who You Say You Are? Prove It”
Two Internet Entrepreneurs and Their Yet-to-be-Named Online Resale Marketplace
The best description of the San Diego Web-based business that Jan Anton and Brendan Boyd have developed may be a symbolic cloud that includes the corporate logos for eBay, Amazon, Craigslist, and other online markets. For the time being, that image also happens to be the current logo for their startup, which was known until … Continue reading “Two Internet Entrepreneurs and Their Yet-to-be-Named Online Resale Marketplace”
Redstart Systems’ Voice Command Software Replaces the Keyboard and Mouse—and Not Just for Dictation
If you want to dictate notes into your computer without typing, speech recognition software like Dragon Naturally Speaking, from Burlington, MA-based Nuance Communications (NASDAQ: [[ticker:NUAN]]), works surprisingly well these days. Even without training, dictation software can hit accuracy rates of 99 percent; once it learns your personal speech patterns, it’s nearly flawless. But using speech … Continue reading “Redstart Systems’ Voice Command Software Replaces the Keyboard and Mouse—and Not Just for Dictation”
SignaCert Scores $8.8M, Naverus Nets $4M, Top 5 Q1 Venture Deals in Washington, & More Seattle-Area Deals News
After a flurry of Northwest deals the previous week, the past seven days have been fairly quiet, with some activity in security software, aviation, and biotech. —Kent, WA-based Naverus, a company that makes advanced navigation systems for airlines and air traffic managers, raised $4 million from existing investors Foundation Capital and East Peak Partners. I … Continue reading “SignaCert Scores $8.8M, Naverus Nets $4M, Top 5 Q1 Venture Deals in Washington, & More Seattle-Area Deals News”
Myomo Running Lean After Slow Initial Sales of Robotic Elbow Brace
Boston-based medtech startup Myomo has cut its staff by 66 percent and adopted a more virtual business model over the past year, due to slower-than-expected initial sales of its highly acclaimed robotic elbow brace for stroke victims, company co-founder and interim CEO Steve Kelly tells Xconomy. Kelly says that the angel-funded startup “hit a wall” … Continue reading “Myomo Running Lean After Slow Initial Sales of Robotic Elbow Brace”
Ardea Biosciences Finds Early Results of Drug Candidate Equivalent to Existing Gout Treatment
San Diego’s Ardea Biosciences (NASDAQ: [[ticker:RDEA]]) said today its experimental gout drug performed no better than existing drugs in an early stage study, but CEO Barry Quart nevertheless said he’s happy with the result. “This is the first stage of drug development and we have not yet optimized the dose,” Quart said. “We have demonstrated … Continue reading “Ardea Biosciences Finds Early Results of Drug Candidate Equivalent to Existing Gout Treatment”
Naverus, Extra $4M in Tow, Looks to Redesign Flight Paths, Saving Time, Fuel, and Emissions
There’s a saying in sports that if you don’t notice the referees, they’re doing a great job. The same goes for offensive linemen in football, tech support in big companies…and Kent, WA-based Naverus when you’re flying in an airplane. Sure, we in the media notice companies like Naverus when they raise $4 million in venture … Continue reading “Naverus, Extra $4M in Tow, Looks to Redesign Flight Paths, Saving Time, Fuel, and Emissions”
H2O Audio Gets More Steelpoint VC Funding
San Diego-based H2O Audio has raised more than $1.7 million in venture funding. Among other things, the startup plans to use the capital to roll out a new product line of its waterproof housings and headsets for the Apple iPod and MP3 players. H2O Audio CEO Kristian Rauhala told me today that $1 million of … Continue reading “H2O Audio Gets More Steelpoint VC Funding”
RunKeeper Crosses Marathon Finish Line
[Update, April 21, 2009: The third RunKeeper video has now been posted.] Maybe Jason Jacobs’ foot injury wasn’t quite as bad as he was suggesting last week. Just minutes ago the CEO of Boston-based FitnessKeeper, which makes a popular iPhone run-tracking application called RunKeeper, crossed the finish line of the Boston Marathon with a very … Continue reading “RunKeeper Crosses Marathon Finish Line”
Jet-Powered Predator UAV Unveiled by GA-Aeronautical Systems
San Diego’s General Atomics Aeronautical Systems said it has begun flight testing a jet-powered version of its Predator unmanned aircraft system (UAS) with a stealthier design and with the ability to operate aboard Navy aircraft carriers. Dubbed the “Avenger,” the jet-powered version of the armed surveillance aircraft can fly as high as 60,000 feet and … Continue reading “Jet-Powered Predator UAV Unveiled by GA-Aeronautical Systems”
Seattle Software Update: AdReady, Azaleos, and Evri Roll Out New Releases
All around town, spring is in the air—and so is new software from some prominent local tech startups. In case you missed them while trying to make it through tax week, here are the most interesting software releases we learned about in the past seven days. —Seattle-based AdReady announced a new suite of services to … Continue reading “Seattle Software Update: AdReady, Azaleos, and Evri Roll Out New Releases”
Icahn Aiming for Amylin Sale to Eli Lilly
Billionaire investor Carl Icahn wants San Diego’s Amylin Pharmaceuticals to sell itself to Eli Lilly, its diabetes drug marketing partner. Icahn’s intentions were revealed today in a letter that Amylin director James Wilson wrote to Icahn as the two sides exchange salvos in a power struggle to control Amylin. In his letter to Icahn, which … Continue reading “Icahn Aiming for Amylin Sale to Eli Lilly”
Hubspot, Hybernaut Bury the Twitter Hatchet, For Now
All’s well that ends well. For a while, it looked like the argument last week between Cambridge’s Hubspot and Beta House co-founder Brian Del Vecchio over how startups should use Twitter—a debate carried out on Twitter itself, of course—was going to get ugly. Del Vecchio, known on Twitter as @Hybernaut, was bothered by the way … Continue reading “Hubspot, Hybernaut Bury the Twitter Hatchet, For Now”
Looking For Signs of Life in San Diego’s VC Deals
The evaporation of venture deals involving San Diego’s software, wireless, and related IT startups was probably the most surprising revelation that jumped out of the regional first-quarter venture data released Friday. The survey by Dow Jones VentureSource reported that 15 startups in the San Diego region got a total of $194.6 million during the first three … Continue reading “Looking For Signs of Life in San Diego’s VC Deals”
U.S. Venture Funding Plummets (Yada Yada), But New England Less So—Region’s Top 10 Deals of Q1
The silver lining in the big black rain clouds that were this weekend’s first quarter venture capital investment reports was that New England actually did better than just about anywhere else. As Bruce reported on Saturday, the nation’s venture outlays in Q1 tanked more than 50 percent, to their lowest levels in more than a … Continue reading “U.S. Venture Funding Plummets (Yada Yada), But New England Less So—Region’s Top 10 Deals of Q1”
San Diego’s First IPO of 2009, New Institute Plans to Transform Healthcare, Making Waves at Water Parks, & More San Diego Biz/Tech News
We saw several San Diego innovators making waves last week. Bridgepoint Education defied the recession by going public, Sapphire Energy upped its production estimates due to a technological breakthrough, and a wave war erupted among San Diego’s wave makers. So this is how things looked during the week: —San Diego’s Bridgepoint Education (NYSE: [[ticker:BPI]]) priced … Continue reading “San Diego’s First IPO of 2009, New Institute Plans to Transform Healthcare, Making Waves at Water Parks, & More San Diego Biz/Tech News”
Epizyme Unveils Technology, Targeting Cancer with Epigenetic Drugs
Despite being forthcoming about its big-name venture backers—MPM Capital and Kleiner Perkins Caufield & Byers—Cambridge, MA-based Epizyme has been one of several biotech startups in the Boston that are being demure about the details of their technology. So I was intrigued when the company contacted me recently to let me know that it was lifting … Continue reading “Epizyme Unveils Technology, Targeting Cancer with Epigenetic Drugs”
Seattle and the Developing World: Bill Gates, UW Profs Speak at Global Tech Conference in Qatar
Seattle has become a major global health hub over the last decade, thanks in no small part to having the Bill & Melinda Gates Foundation, one of the world leaders in funding for global health research, in our own backyard. Now, an emerging and related discipline is also finding an increasing number of connections here—global … Continue reading “Seattle and the Developing World: Bill Gates, UW Profs Speak at Global Tech Conference in Qatar”
Brightcove Basks In Light of Adobe’s New Strobe
Cambridge, MA-based video hosting provider Brightcove has long had all of its eggs in Adobe Systems’ basket: the company’s entire platform is built around Adobe’s Flash streaming media format. But now the two companies’ relationship is growing even closer. At the National Association of Broadcasters convention in Las Vegas today, Brightcove and San Jose, CA-based … Continue reading “Brightcove Basks In Light of Adobe’s New Strobe”
Top 5 First-Quarter Venture Deals in Washington State; Local VCs Weigh In on Downturn
[Updated April 18 with correction to Madrona Venture Group’s new investment in Q1—Yieldex, not PetraVM (which was Q4)] OK, the venture capital stats are in for the first three months of 2009, and surprise—they’re not very pretty. In fact, venture capitalists and all of us who follow their activities should probably just retire now while … Continue reading “Top 5 First-Quarter Venture Deals in Washington State; Local VCs Weigh In on Downturn”
First Quarter Venture Investments Plunge 50 Percent Nationwide
There was a time when venture capital partners used to tell me that venture investing is unaffected by the overall economy, because it takes five to 10 years to realize returns in startup investments. In January 2008, Deepak Kamra of Menlo Park, CA-based Canaan Partners said, “Most venture-backed companies don’t have a lot of debt, so they’re not … Continue reading “First Quarter Venture Investments Plunge 50 Percent Nationwide”
How Seattle VCs Are Adapting to the UW TechTransfer Revolution (Part 2)
[This is the second part of a series on how the process of identifying venture-backed startups and commercialization opportunities at the University of Washington is evolving—Eds.] How does the University of Washington Tech Transfer office view its ongoing relationship with venture capitalists? On Wednesday, we reported on how venture firms around town are going about … Continue reading “How Seattle VCs Are Adapting to the UW TechTransfer Revolution (Part 2)”
A Tale of Two Startups: Picnik and Wetpaint, Like Peanut Butter and Chocolate
Earlier this week, we heard that two of Seattle’s most promising Internet startups have teamed up to deliver sophisticated photo editing services to a growing pool of social-network users. Picnik, which makes Web-based tools for creating collages and cool photo effects, is now available (with just a click) to users of Wetpaint, a “social publishing” … Continue reading “A Tale of Two Startups: Picnik and Wetpaint, Like Peanut Butter and Chocolate”