Exact Sciences, a Marlborough, MA, developer of a DNA-based stool test for detecting colorectal cancer, says that its board of directors has replaced the firm’s CEO and chief financial officer. The management changes follow the firm’s successful maneuvering to avoid a takeover by San Diego-based diagnostics firm Sequenom (NASDAQ:[[ticker:SQNM]]). The board of Marlborough, MA-based Exact … Continue reading “After Fending Off Sequenom Takeover, Exact Sciences Replaces CEO and CFO with Diagnostics Vets”
Category: National
Cyberkinetics Loses Energy
According to a report today in the Boston Globe, Foxborough, MA-based Cyberkinetics Neurotechnology Systems (OTC:[[ticker:CYKN]]) is shutting down. In January, it sold the rights to its Andara Oscillating Field Stimulator technology, a device designed to regenerate nerve cells in patients with severe spinal injuries, to Waltham, MA-based NeuroMetrix for $350,000. The FDA hasn’t yet approved … Continue reading “Cyberkinetics Loses Energy”
Invest Northwest Notebook: Five of Seattle’s Next-Generation Life Sciences Innovators Seek to Adapt
No single company captured the lion’s share of buzz at this year’s Invest Northwest conference with a mega-partnership or a lucrative round of venture capital. But there were signs that the Northwest’s life sciences companies have adapted to life in a recession, and are continuing to get out of bed each day with plans to … Continue reading “Invest Northwest Notebook: Five of Seattle’s Next-Generation Life Sciences Innovators Seek to Adapt”
Merck’s Creationist-Turned-Genomicist, Pfizer’s VC Leader Scouts the Northwest, Zymo Nabs $20M, & More Seattle-Area Life Sciences News
This was a busy week in Xconomy’s life sciences department with lots of story ideas to chase at Invest Northwest, a fascinating life story of Merck’s Eric Schadt, and the usual pace of breaking news. —Merck’s Eric Schadt has been in the news lately since he and Rosetta Inpharmatics founder Stephen Friend told me about … Continue reading “Merck’s Creationist-Turned-Genomicist, Pfizer’s VC Leader Scouts the Northwest, Zymo Nabs $20M, & More Seattle-Area Life Sciences News”
UW Energy Talks Dive Deep into Boeing Biofuels, Smart Grid Savings, and Solar Cells
New ideas for alternative energy and cleantech were in the air on Tuesday at the University of Washington, which hosted a regional meeting of the National Academy of Engineering and a public symposium on energy topics. We’ve taken a keen interest in this subject lately at Xconomy as we prepare for our own Northwest cleantech … Continue reading “UW Energy Talks Dive Deep into Boeing Biofuels, Smart Grid Savings, and Solar Cells”
Funding Pool Deep for Still River, Cuts in the Offing for Epix and Synta, FDA Approvals Granted for Hologic, & More Boston-Area Life Sciences News
The past week saw substantial cuts at two of New England’s biotech firms, but a thorough analysis of the financial reporting for most companies in the sector shows the news isn’t all bad. That and more below. —Luke delivered the second installment of his Biotech Survival Index, which assesses the financial health of more than … Continue reading “Funding Pool Deep for Still River, Cuts in the Offing for Epix and Synta, FDA Approvals Granted for Hologic, & More Boston-Area Life Sciences News”
First Flight Brings Terrafugia “A New Level of Credibility,” Says CEO Dietrich
After Terrafugia’s heavily attended press conference this morning announcing the maiden flight of the company’s drivable aircraft, the Transition, I buttonholed founder and CEO Carl Dietrich for a one-on-one interview. He said the flight, which took place on March 5, is probably “the biggest single milestone” that Terrafugia could have achieved—and that the company is … Continue reading “First Flight Brings Terrafugia “A New Level of Credibility,” Says CEO Dietrich”
Former Infrasonics CEO Breathing New Life Into Cancer Detection Technology
Sometimes entrepreneurship isn’t the provenance of the young and the quick— and sometimes innovation just won’t go gentle into the night. Jim Hitchin, for example, is a 66-year-old San Diego entrepreneur who is working to revive biomedical technology acquired in 2004 from the bankruptcy of a Minneapolis, MN, medical device company. Hitchin previously served on … Continue reading “Former Infrasonics CEO Breathing New Life Into Cancer Detection Technology”
General Catalyst Lands Facebook Co-Founder to Help Create Next Generation of Web Media Startups
As is often (too often) told in local innovation circles, Boston venture capitalists turned down funding Facebook, the company headed to Silicon Valley—and the rest is a sore spot in New England Internet VC history. But now one of the three founders of Facebook, Chris Hughes, is returning in a big way to the New … Continue reading “General Catalyst Lands Facebook Co-Founder to Help Create Next Generation of Web Media Startups”
Evri Teams Up with The Times of London, Helps Online Audience Browse the Web Better
Seattle-based Internet startup Evri is announcing today that it has formed a partnership with The Times of London, one of the UK’s leading newspapers, to provide content recommendation software for online articles. For selected stories in the Times Online, Evri’s widget shows up next to the text with a list of links to related articles … Continue reading “Evri Teams Up with The Times of London, Helps Online Audience Browse the Web Better”
Terrafugia Achieves Maiden Flight—Live Blogging from the Boston Museum of Science
[Update, 2:30 p.m., March 18, 2009: We’ve just published an extensive followup interview with Carl Dietrich, Terrafugia’s founder and CEO.] Ever since my first visit to Terrafugia’s Woburn, MA, warehouse last May to see the startup’s Transition “roadable aircraft,” I’ve been pestering CEO Carl Dietrich to clue us in about the craft’s first flight. He … Continue reading “Terrafugia Achieves Maiden Flight—Live Blogging from the Boston Museum of Science”
Report: IBM in Talks to Buy Sun Microsystems for $6.5B
Big Blue may become even bigger in the Boston area. IBM is in discussions to acquire Sun Microsystems, a move that would strengthen IBM’s Web presence and add to its server and data storage businesses, the Wall Street Journal reports this morning, citing unnamed sources with knowledge of the talks. Both IBM (NSYE:[[ticker:IBM]]) and Sun … Continue reading “Report: IBM in Talks to Buy Sun Microsystems for $6.5B”
Generation Health Growing Boston-Area Presence, Backed by Highland Capital Partners
Though Generation Health, launched last year with backing from Highland Capital Partners and others in the Boston area, is based in New Jersey, it’s staging much of its effort to build a novel benefits management system for genetic tests here in Massachusetts. And Per Lofberg, the firm’s chairman and CEO, tells Xconomy that he anticipates … Continue reading “Generation Health Growing Boston-Area Presence, Backed by Highland Capital Partners”
How to Stimulate Biotech? Gillis, Chhabra, Williams Sound Off
No one would have been surprised if there was a lot of self-pity going around at this year’s Invest Northwest conference. After all, biotech investors have been clobbered like every other sector in the market, and one-third of public biotech companies are said to be running on their last six months of cash or less. … Continue reading “How to Stimulate Biotech? Gillis, Chhabra, Williams Sound Off”
With Loudcrowd, Nabeel Hyatt Sees Mult-Billion-Dollar Opportunity in Music Gaming: “This Thing Is Ours to Screw Up”
I don’t care whether I’m good enough at Dance, one of the online games that’s part of the new music site Loudcrowd, to impress other users. What I want to know is whether I dance better than Massachusetts Governor Deval Patrick. As part of his January 30 tour of the Cambridge Innovation Center, the Govinnovator … Continue reading “With Loudcrowd, Nabeel Hyatt Sees Mult-Billion-Dollar Opportunity in Music Gaming: “This Thing Is Ours to Screw Up””
Sorenson’s New CEO Establishes San Diego ‘Hub’
One of the corollaries of hiring a new CEO is that sometimes the corporate mountain moves instead of the guy at the top, which may be a factor in an announcement today by Utah’s Sorenson Media. The Salt Lake City-based developer of video compression and encoding software said today Sorenson has opened a new San Diego … Continue reading “Sorenson’s New CEO Establishes San Diego ‘Hub’”
A Snapshot of San Diego’s Innovation Economy
San Diego’s spirit of entrepreneurship remained resilient in 2008, despite a credit crisis that precipitated one of the worst financial periods in U.S. history, according to Connect, a San Diego nonprofit group that promotes technology innovation and entrepreneurship. Connect says 73 new technology companies were started in the San Diego area during the last three … Continue reading “A Snapshot of San Diego’s Innovation Economy”
UK Pharma Visualization Startup Chooses San Diego Region for Expansion
Just a few weeks after we reported Torrey Path’s arrival in La Jolla, another bioinformatics company is setting up shop San Diego. Dotmatics, a scientific visualization and bioinformatics software developer founded in the United Kingdom, has opened an office near San Diego as part of an expansion that targets the U.S. life sciences market. “Now … Continue reading “UK Pharma Visualization Startup Chooses San Diego Region for Expansion”
Still River Systems Banks $33M to Accelerate Development of Next-Gen Proton Radiotherapy System
Still River Systems, a Littleton, MA, startup developing a proton radiotherapy system for cancer treatment, has revealed a $33 million financing this morning intended to help the company expedite development of its lead product. The sizable financing was led by Venrock Associates and previous investor Caxton Health and Life Sciences, according to Still River. Venture … Continue reading “Still River Systems Banks $33M to Accelerate Development of Next-Gen Proton Radiotherapy System”
Pfizer’s VC Leader, Barbara Dalton, on Corporate Venture and Northwest Deal Hunting
Pfizer is the world’s largest drugmaker, and it tends to make headlines when it pulls off megadeals like its pending $68 billion takeover of Wyeth. It’s one of the deals the company is hoping will help replenish its pipeline with new medicines after the patent expires in 2010 for atorvastatin (Lipitor), the $12 billion a … Continue reading “Pfizer’s VC Leader, Barbara Dalton, on Corporate Venture and Northwest Deal Hunting”
Ex-Microsoftie’s Startup, Telligent, Takes on Jive (and Others) in Social Software for Businesses
A week ago, I reported on Portland, OR-based Jive Software’s latest product, a business software package designed to let employees communicate and collaborate more effectively using social networking tools. Jive competes with the likes of big companies such as IBM and Microsoft, who want to own the business communication space and have been adding social-network … Continue reading “Ex-Microsoftie’s Startup, Telligent, Takes on Jive (and Others) in Social Software for Businesses”
Verenium Struggles to Make Ends Meet
Verenium (NASDAQ: [[ticker:VRNM]]), a biofuels startup based in Cambridge, MA, and San Diego, warned in an annual 10-K income statement filed with the SEC yesterday that independent accountants hired by the firm have raised “substantial doubt about our ability to continue as a going concern.” Losses are piling up from the company’s research and development … Continue reading “Verenium Struggles to Make Ends Meet”
Biotech Survival Index 2: Boston Life Sciences Companies Squirrel Away More Cash for Long Winter
When I last crunched the numbers on the financial health of the Boston area’s public life sciences companies, back in November, I noted that 15 of them had more than $100 million stockpiled. These firms, I reasoned, were likely in a decent position to weather the economic storm. Now with quarterly financial reporting through December … Continue reading “Biotech Survival Index 2: Boston Life Sciences Companies Squirrel Away More Cash for Long Winter”
More San Diego Layoffs Hit Cymer, Goodrich Aerostructures, La Jolla Pharmaceutical
With unemployment in San Diego County at 8.6 percent in January—its highest level since the 1970s—it should come as no surprise that some of San Diego’s leading technology companies continue to shed workers. Still, the depth of the layoffs has been surprising among the companies we follow at Xconomy. You can check our updated list … Continue reading “More San Diego Layoffs Hit Cymer, Goodrich Aerostructures, La Jolla Pharmaceutical”
Blade Games Raises $4M, Skytap Scores $7M, ZymoGenetics Gets $20M, & More Seattle-Area Deals News
St. Paddy’s Day caps a relatively busy week for deals in the Northwest, with activity in business software, gaming, and biotech. —In the big funding news of the week, Seattle-based Skytap scored a $7 million Series B round from existing Seattle-area investors Ignition Partners, Madrona Venture Group, and WRF Capital. Skytap develops cloud-computing software to … Continue reading “Blade Games Raises $4M, Skytap Scores $7M, ZymoGenetics Gets $20M, & More Seattle-Area Deals News”
Using HIV as Model, Anadys Develops Drug Cocktail Ingredient for Hepatitis C
HIV was transformed from a terminal illness into a chronic disease in wealthy countries in the late 1990s, once scientists learned to mix anti-viral drugs into a potent cocktail. That was supposed to hold the virus in check by attacking it from many different angles, keeping it from developing resistance to any one drug. The … Continue reading “Using HIV as Model, Anadys Develops Drug Cocktail Ingredient for Hepatitis C”
Shaking Off Defensive Image, Black Duck Aims to Accelerate Software Development with Open Source
When I first wrote about Black Duck Software about five years ago (pre-Xconomy), the company was pitching its open-source code tracking system as a protective measure. Many software companies wanted to incorporate open-source code into their products—why reinvent an e-commerce module for taking credit card numbers, for instance, if there’s already a perfectly good open-source … Continue reading “Shaking Off Defensive Image, Black Duck Aims to Accelerate Software Development with Open Source”
Cell Therapeutics Reports Severe Cardiac Events in Drug Trial
[[Updated: March 16, 5:50 pm. Adds comments from chief medical officer Jack Singer and clarifies study results.]] Cell Therapeutics is betting its future on winning FDA approval of a drug that looks effective for non-Hodgkin’s lymphoma, but now comes word that patients on the drug in a clinical trial had a higher number of heart … Continue reading “Cell Therapeutics Reports Severe Cardiac Events in Drug Trial”
Y Combinator, Sequoia, and Lessons for the Recession
In January, Paul Graham announced that Y Combinator would no longer operate in the summers out of Cambridge, MA, but instead would stay year round in its other home of Mountain View, CA. The reason he put forth was the impending birth of his new child and the decision that California was the better place … Continue reading “Y Combinator, Sequoia, and Lessons for the Recession”
Cloud Computing Firm Skytap Scores $7M More from Ignition, Madrona, WRF
What financing risk? Seattle-based Skytap, a cloud-based virtualization startup, said today it has closed a $7 million Series B funding round from previous investors Ignition Partners, Madrona Venture Group, and WRF Capital. The company said the funds will be used to bolster product development, sales, and marketing efforts. Skytap was spun out of the University … Continue reading “Cloud Computing Firm Skytap Scores $7M More from Ignition, Madrona, WRF”
Case Dismissed: Broadcom’s Legal Bid to Defang Qualcomm Patents
The lawyers for Irvine, CA-based Broadcom have been on a roll in a protracted legal battle over mobile phone technology patents against San Diego arch-rival Qualcomm, including one case that led to sanctions last year. But Broadcom’s lawyers misfired in a lawsuit filed against Qualcomm just five months ago. The suit broadly alleged that Qualcomm … Continue reading “Case Dismissed: Broadcom’s Legal Bid to Defang Qualcomm Patents”
OVP’s Rick LeFaivre on Venture Capital and the Future of Cleantech
Sick of cleantech yet? Rick LeFaivre certainly isn’t. In fact, he’s just getting started. The managing director at Kirkland, WA-based OVP Venture Partners leads the VC firm’s investments in alternative energy and cleantech, together with fellow managing director Gerry Langeler, who is based in Portland, OR. To date, OVP has made five investments in cleantech—Carbonflow, … Continue reading “OVP’s Rick LeFaivre on Venture Capital and the Future of Cleantech”
Quattro Wireless Hits “Hockey Stick” Growth, Raises Additional $10 Million
Quattro Wireless of Waltham, MA, announced today that it has raised $10 million in new venture funding to help expand its mobile content and advertising network. Despite the withering economy, Quattro hit a “hockey stick” in customer acquisition and revenue growth in late 2008 and needs the money to invest in sales, marketing, and technology … Continue reading “Quattro Wireless Hits “Hockey Stick” Growth, Raises Additional $10 Million”
Obama’s Stem Cell Reversal Sparks Deals, Qualcomm’s MediaFLO Revealed, Nokia’s Wireless Mapping, & More SD BizTech News
President Obama’s reversal of federal funding restrictions on research using embryonic stem cells prompted some interesting commentary last week, along with some related developments among local startups. We also have news about the expanding world of mobile media and wireless mapping technologies, so read on! —No one is expecting immediate and widespread changes after the … Continue reading “Obama’s Stem Cell Reversal Sparks Deals, Qualcomm’s MediaFLO Revealed, Nokia’s Wireless Mapping, & More SD BizTech News”
What’s a Biotech Banker To Do in a Downturn? How About M&A
George Milstein is a survivor. Lots of peers in his line of work, biotech investment banking, have vanished from the scene with pink slips in hand. Yet after 15 years in the business, living through the mid-90s health reform bust, the genomics collapse of 2001, and now this mortgage-fueled catastrophe, Milstein is still doing what … Continue reading “What’s a Biotech Banker To Do in a Downturn? How About M&A”
Carmichael Roberts Brings Scientific Expertise to North Bridge Venture Partners, Launching New Startup
Carmichael Roberts says he has avoided taking the traditional path during his career as a scientist and entrepreneur. And he’s now taking a path that will lead North Bridge Venture Partners from its traditional emphasis on IT to a larger mix of investments based on breakthroughs in chemistry and materials science. He even let me … Continue reading “Carmichael Roberts Brings Scientific Expertise to North Bridge Venture Partners, Launching New Startup”
Could Patent Reform Hurt Cleantech?
(Editor’s Note: This is excerpted from written testimony to the U.S. Senate Judiciary Committee.) Out of the many patents that will be filed in the coming years, there will be a handful of world-changing inventions that can crucially alter the course of our future. These are the jewels we need to protect: —inventions that solve … Continue reading “Could Patent Reform Hurt Cleantech?”
Pico Pharmaceuticals, In Its Early Days, Aims to Make More Potent Cancer Drugs, Anti-Bacterials
One out of three biotech companies in the U.S. are running down to their last six months of cash, but biotech entrepreneurs are continuing to start new companies. The latest one to cross my desk is San Diego-based Pico Pharmaceuticals, which emerged last week on the local biotech scene in style, with a scientific paper … Continue reading “Pico Pharmaceuticals, In Its Early Days, Aims to Make More Potent Cancer Drugs, Anti-Bacterials”
Weaving Words with Wordle: A Talk with IBM’s Jonathan Feinberg
Xconomy chose to set up shop in Kendall Square because we wanted to be at the epicenter of investment and innovation in the Boston area. But it was just luck that we ended up right across the street from IBM’s Cambridge research facility at 1 Rogers Street, which is home to both the Collaborative User … Continue reading “Weaving Words with Wordle: A Talk with IBM’s Jonathan Feinberg”
Sangart Raises $50 Million For Blood Substitute
San Diego-based Sangart, a biopharmaceutical company developing artificial blood products based on human hemoglobin, says it has raised $50 million in funding that completes its Series F round. Sangart says the $50 million was raised when its investors exercised warrants the company had issued in 2007 as part of its Series F round, and bring … Continue reading “Sangart Raises $50 Million For Blood Substitute”
Google’s Brian Bershad on the Search Giant’s “Second Act,” and Building More Trust
Google owns the world’s most popular Internet search engine, but to hear the leader of the company’s Seattle site talk, building that was “the easy part.” All the information on the Internet was free and available for indexing with its clever algorithms, but that’s just a tiny fraction of the world’s information, when you start … Continue reading “Google’s Brian Bershad on the Search Giant’s “Second Act,” and Building More Trust”
Brigham Docs Share Medical Scans Remotely Using IBM Web Browser Technology
For hundreds of years, students and spectators could gather in operating theaters like the Ether Dome at Boston’s Massachusetts General Hospital to watch doctors perform surgery. Now IBM and researchers at another famous Boston hospital, Brigham and Women’s, have developed a tool that lets many physicians gather virutally to get a good look at a … Continue reading “Brigham Docs Share Medical Scans Remotely Using IBM Web Browser Technology”
The First Lady of Wireless Built Mobile Startup to Send Message of Simplicity
When Arlene Harris co-founded GreatCall Inc. in Del Mar, CA, she had a clear idea about the type of mobile phone service she wanted to provide. “The mobile phone is made to serve us, not to enslave us,” she told me recently. “I don’t want my phone to tell me what to do! We are … Continue reading “The First Lady of Wireless Built Mobile Startup to Send Message of Simplicity”
Top 9 Tech Updates: Photosynth, Geocaching, Google Earth, and More
I’ve been writing World Wide Wade for almost a year now; this is the 44th installment. A year is a long time in the technology world—long enough for many of the gadgets, services, and websites I’ve covered in the past to evolve cool new features. So I thought I’d revisit a few of my previous … Continue reading “Top 9 Tech Updates: Photosynth, Geocaching, Google Earth, and More”
Born a Creationist, Merck’s Schadt Leads Open Source Effort to Unravel Genome
One of the world’s brightest minds at analyzing human DNA was born into a family of creationists. When he was 17 and graduating from high school in a rural area of southwestern Michigan, Eric Schadt couldn’t even imagine going to college. “My parents were very religious,” Schadt told me on a visit to his office … Continue reading “Born a Creationist, Merck’s Schadt Leads Open Source Effort to Unravel Genome”
$20M for Surface Logix, $5M for Veracode, $14M for Stemgent, and More Boston-Area Deals News
It’s all about smallish venture deals and acquisitions of indeterminate size this week. Maybe next week New England’s tech and life sciences companies will only announce partnerships? —Vitalize Consulting Services, a Reading, MA-based manager of IT implementation projects for big healthcare companies, acquired Santa Ana, CA-based r3 Health Partners for an undisclosed sum. —Surface Logix … Continue reading “$20M for Surface Logix, $5M for Veracode, $14M for Stemgent, and More Boston-Area Deals News”
Seattle Layoff Update: Imperium, Daptiv, General Dynamics, Cell Therapeutics, Trubion Cut Staff
At least five area companies that we watch at Xconomy have had significant layoffs in the past two weeks. They span the fields of energy, biotech, hardware, and software. The sad part is that none of these cases is particularly surprising. You can check our updated list of tech and life sciences layoffs in the … Continue reading “Seattle Layoff Update: Imperium, Daptiv, General Dynamics, Cell Therapeutics, Trubion Cut Staff”
Fate Therapeutics Adds Scientific Muscle, Advancing Stem Cell Technology into First Clinical Trial
Fate Therapeutics has wowed people with its big plans to make drugs that activate adult stem cells in the body to treat diseases and regenerate tissues. And now the biotech startup has brought on new scientific talent to help put its first treatment to the test in clinical trials. Fate said yesterday it has recruited … Continue reading “Fate Therapeutics Adds Scientific Muscle, Advancing Stem Cell Technology into First Clinical Trial”
Cadence Drug Fails to Prevent Hospital Infections; Company Scraps Program
Cadence Pharmaceuticals has taken a couple steps forward in the past few months, and now it took one step back. The San Diego-based biotech company (NASDAQ: [[ticker:CADX]]) said today the second drug candidate in its pipeline failed in a final-stage clinical trial to help prevent infections from developing in hospitalized patients. Cadence said it is … Continue reading “Cadence Drug Fails to Prevent Hospital Infections; Company Scraps Program”
Seattle-Area Company Closures: Sotto, TeachFirst, and Ultreo Shut Down
It’s rough out there, as everyone knows. Yesterday, Dow Jones VentureWire ran a story about venture-backed companies that have shut down this year. Their list includes three Seattle-area firms. Before we see too many more of these reports, Xconomy would like to start gathering lessons learned from startups, investors, and observers. Many people still seem … Continue reading “Seattle-Area Company Closures: Sotto, TeachFirst, and Ultreo Shut Down”