It was another busy week in Seattle’s life sciences scene, with a mix of stories from biotech, medical devices, diagnostics, and biofuels. —Xconomy had the exclusive feature story on how the University of Washington is reaping a windfall of royalties because one of its inventions from the 1980s is used for manufacturing Merck’s billion-dollar vaccine, … Continue reading “UW’s Gardasil Windfall, Cell Therapeutics Unloads Zevalin, Trubion Cuts Jobs, & More Seattle-Area Life Sciences News”
Category: National
SBRI Teams With PATH To Pick Best Candidates for Malaria Vaccines
Seattle’s tight-knit global health community is getting a little tighter today. The Seattle Biomedical Research Institute (SBRI) has secured a $2.3 million grant from the PATH Malaria Vaccine Initiative to help sift through a load of discoveries it has made in recent years that researchers say could be critical ingredients in a more effective new … Continue reading “SBRI Teams With PATH To Pick Best Candidates for Malaria Vaccines”
It’s a Good Time To Be at Microsoft—A Report from TechFest
[Updated Feb. 25 with photos from TechFest 2009:] Yesterday, I reported from Microsoft headquarters in Redmond, WA, on some high-level thoughts about the importance of corporate research from Craig Mundie, Microsoft’s chief research and strategy officer, and Rick Rashid, senior vice president and head of research. It’s TechFest week, which means tons of demos and … Continue reading “It’s a Good Time To Be at Microsoft—A Report from TechFest”
Trubion Cuts One-Fourth of Workforce
Seattle-based Trubion Pharmaceuticals said today it is cutting one-fourth of its workforce, about 25 jobs, leaving it with a staff of about 75. The company says it expects the cuts will help it conserve enough cash to operate into the second half of 2010. The Trubion (NASDAQ: [[ticker:TRBN]]) cuts will affect “most areas of the … Continue reading “Trubion Cuts One-Fourth of Workforce”
VMware Takes On Microsoft, Amazon in the Cloud
Palo Alto, CA-based software firm VMware (NYSE: [[ticker:VMW]]), a subsidiary of Hopkinton, MA-based EMC (NYSE: [[ticker:EMC]]), has rolled out an ambitious cloud-computing program that looks to challenge the big players in the space—Amazon, Google, Microsoft, and others. VMware makes virtualization software that helps companies run their information technology operations, like networking and desktop management, more … Continue reading “VMware Takes On Microsoft, Amazon in the Cloud”
Alnylam’s Spinoff Strategy, Genzyme’s Gaucher-Business Future, Adimab’s Antibody Ambitions, & More Boston-Area Life Sciences News
If you’re a fan or follower of New England’s life sciences industry we’ve got lots for you this week, thanks to some great in-depth reporting by Ryan and Luke. —Luke gave a fascinating look at the strategy of Cambridge, MA-based Alnylam Pharmaceuticals (NASDAQ: [[[ticker:ALNY]]), a pioneer in the field of RNA interference, or RNAi. Alnylam … Continue reading “Alnylam’s Spinoff Strategy, Genzyme’s Gaucher-Business Future, Adimab’s Antibody Ambitions, & More Boston-Area Life Sciences News”
Isis Inches Closer Toward Profitability
Isis Pharmaceuticals is getting closer to a milestone few biotechs ever reach-profitability. The Carlsbad, CA-based company, through its strategy of forming partnerships with pharmaceutical companies that want a piece of its inventions, was able to build up a war chest of $491 million at year’s end. Isis also trimmed its net loss last year to … Continue reading “Isis Inches Closer Toward Profitability”
Netezza Buys Tizor Systems for $3M
This isn’t the exit that investors in Tizor Systems were hoping for. The Maynard, MA-based startup, which says it raised $23.3 million in its last two rounds of financing, was sold last week to Netezza (NYSE:[[ticker:NZ]]) for $3.1 million in cash, according to a regulatory filing. Tizor, which makes software to audit and guard information … Continue reading “Netezza Buys Tizor Systems for $3M”
Selecta Biosciences Banks $15M to Advance Nano-Sized Immune-Stimulating Drugs
Selecta Biosciences, a secretive biotech startup, is breaking its silence today to reveal the closing of a $15.1 million second round of financing. The sizable round is a rarity during what has been a financial drought for most young biotech firms, yet the founders of Watertown, MA-based Selecta say the startup has attracted investors due … Continue reading “Selecta Biosciences Banks $15M to Advance Nano-Sized Immune-Stimulating Drugs”
Quasar Leads Development of Advanced Sensing Technologies for Government
In the 11 years since Andrew Hibbs started QUASAR, the privately held company has flourished by developing a smorgasbord of sophisticated sensing technologies under various government research and development contracts. I met Hibbs more than a decade ago, during the formative years of San Diego’s Quantum Magnetics, where he led development of advanced electromagnetic sensors … Continue reading “Quasar Leads Development of Advanced Sensing Technologies for Government”
IBM Builds Critical Mass at “Mass Lab”; Aims to Mix Acquired Subsidiaries Without Dissolving Them
IBM’s sweeping project to consolidate its local software divisions at renovated campuses in Littleton and Westford, MA, is more than just a physical reorganization: it’s a chance for the company to craft a new identity for itself in Massachusetts, according to one of Big Blue’s top executives in the state. “I think we are one … Continue reading “IBM Builds Critical Mass at “Mass Lab”; Aims to Mix Acquired Subsidiaries Without Dissolving Them”
Life Sciences on a Budget: Startups Make Pitch for Angel Dollars at First Zino Society Forum
(Updated) Angel investors and biotech companies don’t usually mix. Most biotech startups begin with university research, and embark on a decade-long quest of product development, all while inhaling several hundred million dollars of capital, and carrying the burden of a 90 percent failure rate. This is where deep-pocketed, risk-seeking venture capitalists and public equity investors … Continue reading “Life Sciences on a Budget: Startups Make Pitch for Angel Dollars at First Zino Society Forum”
Investors Back Growing Bay State Software Firms Aveksa and Apparent Networks in Pair of Series C Financings
It’s no anomaly that two Massachusetts firms that provide software for big organizations—Waltham-based Aveksa, and Apparent Networks, headquartered in Wellesley Hills—are announcing the close of significant financings today. Both companies are commercially viable businesses with revenue streams, the types of operations that are attracting venture capital and private equity investments during this stormy recession. Aveksa … Continue reading “Investors Back Growing Bay State Software Firms Aveksa and Apparent Networks in Pair of Series C Financings”
Patent Lawsuit Against Histogen Forces Layoffs And A Scramble For New Funding
A patent infringement lawsuit filed last month against Histogen has triggered a funding crisis at the San Diego biomedical startup, which was forced to lay off all 36 of its employees at the end of January. Histogen founder and CEO Gail Naughton told me this afternoon the suit filed by rival SkinMedica of Carlsbad, CA, … Continue reading “Patent Lawsuit Against Histogen Forces Layoffs And A Scramble For New Funding”
Craig Mundie and Rick Rashid on Why Microsoft Research Matters (Even More than Usual)
Microsoft’s ninth annual TechFest is going on this week in Redmond, WA. This is the big demo event where researchers from all of Microsoft’s research labs around the world (based in Redmond, Silicon Valley, New England, UK, India, and China) get to show off their results to product groups, vice presidents, professors, and other guests. … Continue reading “Craig Mundie and Rick Rashid on Why Microsoft Research Matters (Even More than Usual)”
Bionavitas Unveils Technology to “Shed Light” on Algae, Further Boosting Yields
Redmond, WA-based Bionavitas has been pretty stealthy until today, when it offered a peek into what it thinks will enable it to corner a piece of the market for algae-based biofuels. Biofuels made from algae have attracted a boomlet of interest in the past year, as investors and entrepreneurs have been impressed with its potential … Continue reading “Bionavitas Unveils Technology to “Shed Light” on Algae, Further Boosting Yields”
A Reluctant Entrepreneur Bringing Bioinformatics Startup to San Diego
A couple of years ago, Peter Dresslar saw an opportunity to start his own company when he was working as an information science consultant for a big corporation he describes only as the world’s largest research-based pharmaceutical company. Now Dresslar is the 38-year-old CEO of a software analytics company with plans to move to San … Continue reading “A Reluctant Entrepreneur Bringing Bioinformatics Startup to San Diego”
Optimer Drug for Traveler’s Diarrhea Passes Key Trial, Will Seek FDA Approval
Here’s some potentially good news for vacationers who have had their trip spoiled by a bad case of the runs. Optimer Pharmaceuticals says its experimental drug for traveler’s diarrhea has reached its goal in a second pivotal clinical trial, and the San Diego-based firm plans to ask the FDA to approve the drug by the … Continue reading “Optimer Drug for Traveler’s Diarrhea Passes Key Trial, Will Seek FDA Approval”
Impinj Navigates Nascent RFID Market with Unique Technology, Strategy—and Patience
What’s the most exciting company in Seattle? I recently put the question to Patrick Ennis, the global head of technology for Bellevue, WA-based Intellectual Ventures, and his answer surprised me: Impinj. The firm in Seattle’s Fremont neighborhood has been around since 2000, and is well-known for its focus on radio-frequency identification (RFID) technologies—not exactly the … Continue reading “Impinj Navigates Nascent RFID Market with Unique Technology, Strategy—and Patience”
Borealis Ventures: The Real Venture Capitalists from New Hampshire
Philip Ferneau says that it’s pretty funny that the movie “Wedding Crashers” follows the exploits of two bachelors who decide to keep up appearances at the wedding of complete strangers by posing as venture capitalists from New Hampshire. Ferneau and his partners at Borealis Ventures are indeed among the few actual venture capitalists based in … Continue reading “Borealis Ventures: The Real Venture Capitalists from New Hampshire”
Ambrx Nails Down Partnership with Merck KGaA to Develop Multiple Sclerosis Drug
San Diego-based Ambrx has signed a new partnership with German pharmaceutical giant Merck KGaA to co-develop a drug for multiple sclerosis. Ambrx and Merck KGaA have agreed to keep the financial terms of this global partnership hush-hush for the time being, although I was able to get some insight into what it means yesterday from … Continue reading “Ambrx Nails Down Partnership with Merck KGaA to Develop Multiple Sclerosis Drug”
Amazon and Madrona Back Yieldex, UW Benefits from Merck Sales, Digini and Vyk Merge, & More Seattle-Area Deals News
It was a quiet week for deals in the Northwest, with just a trickle in the biotech, business software, and gaming arenas. —Seattle-based Cell Therapeutics (NASDAQ: [[ticker:CTIC]]) sold its remaining 50 percent stake in its cancer drug Zevalin to its partner, Irvine, CA-based Spectrum Pharmaceuticals (NASDAQ: [[ticker:SPPI]]) for $18 million, Luke reported. The cash will … Continue reading “Amazon and Madrona Back Yieldex, UW Benefits from Merck Sales, Digini and Vyk Merge, & More Seattle-Area Deals News”
Tizra Puts Publishers Back in Control of Their E-Books
For traditional print publishers, the fact that more and more people are buying book-length works online and reading them on their laptops, iPhones, or Kindles is both encouraging and anxiety-provoking. The rise of e-books opens up potential new markets. But it means publishers have to figure out the best way to share their content electronically—and … Continue reading “Tizra Puts Publishers Back in Control of Their E-Books”
Pacira Cuts 40 Jobs After Setback in Clinical Trial of Painkilling Drug-Delivery Product
[Updated Feb. 26, 2009—Clarifies and corrects terms of Pacira’s financing. See details below.] San Diego-based Pacira Pharmaceuticals, which got a final $10 million installment of a venture capital commitment just a few months ago, laid off about 40 employees last week. Pacira CEO David Stack, who also is a managing director in the Boston office of … Continue reading “Pacira Cuts 40 Jobs After Setback in Clinical Trial of Painkilling Drug-Delivery Product”
MOD Fraud? Investor’s Lawsuit Alleges Blatant Misuse of Funds by CEO
Seattle-based MOD Systems and three of its top executives are being sued by investor Robert Arnold for fraud, embezzlement, misrepresentation, and breach of fiduciary duty, among other complaints. That’s according to a lawsuit filed in King County superior court last Wednesday. Arnold’s investigation into the company was first reported by TechFlash. In the suit, MOD … Continue reading “MOD Fraud? Investor’s Lawsuit Alleges Blatant Misuse of Funds by CEO”
With New Firm Makaira Venture Partners, STD Med Gives Medtech Fund Another Shot
It may be a lousy time for raising money for venture capital funds, but that isn’t deterring medtech entrepreneur Steven Tallarida from launching Makaira Venture Partners near Boston. Though his earlier strategy to finance a medtech fund fell short, Tallarida and his associates plan to hit the road in the coming months to raise about … Continue reading “With New Firm Makaira Venture Partners, STD Med Gives Medtech Fund Another Shot”
Recruiters Say They’re Hiring, But UCSD Engineering Students See It Differently
California’s jobless data for January is set for release Friday, but there’s little reason to expect much improvement since December, when the statewide unemployment rate hit 9.3 percent, with more than 1.73 million California residents out of work. In San Diego County, overall unemployment was at 7.4 percent in December, with 117,000 people jobless. For … Continue reading “Recruiters Say They’re Hiring, But UCSD Engineering Students See It Differently”
Renewables Aren’t Just for Biofuels: Microbia Makes Industrial Chemicals a Bit Greener
Microbia envisions a future in which specialty chemicals we take for granted, like the beta-carotene that goes in dietary supplements, will come from renewable sources instead of the usual petrochemicals. It won’t wean the world off oil, but it could enable this Lexington, MA-based company and its partners to claim they’re helping to green up … Continue reading “Renewables Aren’t Just for Biofuels: Microbia Makes Industrial Chemicals a Bit Greener”
UW’s Gardasil Connection Generates Windfall for Research, Tech Transfer
One of the world’s best-selling vaccines, Merck’s Gardasil, is quietly producing some serious money for an unexpected beneficiary—the University of Washington. Thanks to some hard-fought patent litigation from the 1990s that ended up strengthening and extending the lifespan of a critical piece of UW intellectual property, the university is now raking in a windfall of … Continue reading “UW’s Gardasil Connection Generates Windfall for Research, Tech Transfer”
Early Histogen Study Offers Hope for Retreating Hairlines, Cadence Pharmaceuticals and Vertex Raise Lots of Cash, Unmanned Predator Begins New Air Patrol, & More San Diego BizTech News
It was the best of times and worst of times for the life sciences in San Diego last week. Stalwarts Cadence Pharmaceuticals and Vertex Pharmaceuticals raised cash to expand their businesses, while La Jolla Pharmaceutical and 4-D Neuroimaging basically went in the opposite direction. Biofuels also were back in the news, along with the unmanned … Continue reading “Early Histogen Study Offers Hope for Retreating Hairlines, Cadence Pharmaceuticals and Vertex Raise Lots of Cash, Unmanned Predator Begins New Air Patrol, & More San Diego BizTech News”
The Travel Channel and SnapMyLife: TV Experiments with Mobile Social Media, Gingerly
People seem to eat up the platefuls of food-related programming fed to them by cable networks like Lifetime, The Travel Channel, and the Food Network. Will cell phone owners do the same? The folks at SnapMyLife, the mobile photo-sharing community run by Needham, MA-based Mobicious, hope to find out. Last year the company formed a … Continue reading “The Travel Channel and SnapMyLife: TV Experiments with Mobile Social Media, Gingerly”
Coast to Coast
Earlier this month I joined Massachusetts Governor Deval Patrick and members of his administration on a trade mission to the West Coast. The trade mission was an opportunity to showcase why Massachusetts is a great place to do business for companies in information technology, life sciences and other sectors. For us at the Massachusetts Life … Continue reading “Coast to Coast”
Buzzwire Launches User-Driven Mobile News Site
A growing number of online media companies offer mobile-friendly versions of their articles or videos, often resizing or stripping down the material to make it more easily accessible on smaller screens, and at lower bandwidth. But if you’re a cell phone owner who wants to spend a few minutes scanning mobile sites, there’s a problem. … Continue reading “Buzzwire Launches User-Driven Mobile News Site”
Cell Therapeutics Sells Remaining Zevalin Stake to Spectrum
Cell Therapeutics is selling off its remaining 50 percent stake in its cancer drug Zevalin for $18 million, as part of a last-ditch bid to pull in enough cash to keep its doors open a little while longer. The Seattle-based biotech company (NASDAQ: [[ticker:CTIC]]) said today it sold its remaining stake in the drug to … Continue reading “Cell Therapeutics Sells Remaining Zevalin Stake to Spectrum”
Genzyme Oral Pill for Gaucher’s Succeeds in Trial, Aims to Extend Key Revenue Stream
Genzyme (NASDAQ:[[ticker:GENZ]]) said this afternoon that its next-generation, oral drug for Gaucher disease passed a mid-stage clinical trial, providing a degree of assurance that the Cambridge, MA-based biotech powerhouse can sustain its franchise for treating the rare genetic disease. The study, which included 26 patients, showed the oral drug was safe and effective. And the … Continue reading “Genzyme Oral Pill for Gaucher’s Succeeds in Trial, Aims to Extend Key Revenue Stream”
Top 3 Marketing Lessons from Luis Salazar, Voyager Capital’s Entrepreneur in Residence
Have you ever talked to someone who really knows technology, and really knows how to sell it? It’s a potent combination. I got that feeling from Luis Salazar, the chief marketing officer of Bellevue, WA-based GMI, an international market research firm. Salazar moonlights as an entrepreneur-in-residence (EIR) at Voyager Capital in Seattle, where he advises … Continue reading “Top 3 Marketing Lessons from Luis Salazar, Voyager Capital’s Entrepreneur in Residence”
La Jolla Pharmaceutical Looks at Sale or “Winding Down”
There are not many options remaining for La Jolla Pharmaceutical, (NASDAQ: [[ticker:LJPC]]) which last week reported the failure of its Riquent drug candidate for treating lupus. In a brief statement, CEO Deirdre Gillespie said Riquent was the San Diego biotech’s sole significant asset. The company says it is taking steps to reduce costs, “including a … Continue reading “La Jolla Pharmaceutical Looks at Sale or “Winding Down””
Vertex’s $320M SPO, Verenium and BP’s Joint Venture, Genocea’s $23M Series A, & More Boston-Area Deals News
We’ve got several different venture deals to talk about this week, as well as an acquisition, a sizeable secondary offering, and other interesting transactions from New England’s tech and life sciences firms. —Cardiac implant maker HeartWare International (ASX: [[ticker:HIN]]) of Framingham, MA, agreed to a $282 million acquisition offer from Pleasanton, CA-based Thoratec (NASDAQ: [[ticker:THOR]]). … Continue reading “Vertex’s $320M SPO, Verenium and BP’s Joint Venture, Genocea’s $23M Series A, & More Boston-Area Deals News”
Microsoft’s Mark Aggar on How IT Can Aid Energy Efficiency and the Environment
One of the distinguished panelists for our upcoming Xconomy Forum on March 26 (The Rise of Cleantech in the Northwest) is Mark Aggar, director of environmental technology strategy for Microsoft. Aggar has been at his current post for just about a year, having come over from the Windows Server product planning group to be part … Continue reading “Microsoft’s Mark Aggar on How IT Can Aid Energy Efficiency and the Environment”
Kent BioEnergy, With Decades of Algae Experience, Predicts Biofuel Innovation Will Come From “A Guy on a Tractor”
Jack Van Olst and Michael Massingill have an interesting perspective on the green gold rush underway in San Diego, where there has been a proliferation of startups focused on algae-based biofuels. At a time when venture funds are pouring hundreds of millions of dollars into startups that plan to make diesel, gasoline and jet fuel … Continue reading “Kent BioEnergy, With Decades of Algae Experience, Predicts Biofuel Innovation Will Come From “A Guy on a Tractor””
Plinky: The Cure for Blank Slate Syndrome
If you feel it’s time to share something online but can’t think of anything to say, it might be a sign that you’re dull. If you try too hard to craft a bon mot for your blog or some table talk for your Twitter stream, in other words, you might just be inflicting your insipidness … Continue reading “Plinky: The Cure for Blank Slate Syndrome”
Out With Hedge Funds, In With Blue Bloods: Vertex Transforms Investor Base Via Stock Sale
Vertex Pharmaceuticals has been around the block with biotech hedge funds. These are the people who aim to get rich trading volatile stocks second-to-second, and make big bets, long or short, on whether an experimental drug will work. Now that Vertex has passed some of the riskiest stages of drug development, the company figured it … Continue reading “Out With Hedge Funds, In With Blue Bloods: Vertex Transforms Investor Base Via Stock Sale”
ImaRx’s Ultrasound Stroke Treatment, After Devastating Setback, Beats Clot-Busting Drug in Study
ImaRx Therapeutics, the Redmond, WA-based developer of an ultrasound-based treatment for stroke, was crushed when news broke last year that three patients suffered brain hemorrhages in a clinical trial. But on further analysis of the data, the company says the therapy showed signs of being more effective than a standard clot-busting drug alone, at least … Continue reading “ImaRx’s Ultrasound Stroke Treatment, After Devastating Setback, Beats Clot-Busting Drug in Study”
Billionaire Lifestyles: Checking In With Paul Allen and Charles Simonyi
Here are a couple of compelling tidbits from around the horn about the exploits of some of our favorite Seattle-area billionaires. A strange window into an alternate reality, if you ask me. —Paul Allen, co-founder of Microsoft and head of Seattle-based Vulcan, has his investment portfolio examined by CNET. The article kicks off by mentioning … Continue reading “Billionaire Lifestyles: Checking In With Paul Allen and Charles Simonyi”
San Diego Specialist in Biomagnetic Technologies Shuts Down
San Diego-based 4-D Neuroimaging, a small company that specializes in magnetoencephelography, or MEG, to detect bio-electric fields in the brain and other organs, has abruptly ceased operations. A letter posted on the company’s web site explains 4-D Neuroimaging could not secure additional financing it needed to continue operations. Our updated San Diego layoff tracker is here. … Continue reading “San Diego Specialist in Biomagnetic Technologies Shuts Down”
General Atomics’ Unmanned Predator Aircraft Goes Domestic with New Missions
In 1994, the Pentagon awarded a contract to develop a new type of unmanned aircraft to a three-year-old company in San Diego. The idea behind the Advanced Concept Technology Demonstration was to build a more robust version of a drone that a former Israeli aircraft designer had developed in the 1980s. The result was the … Continue reading “General Atomics’ Unmanned Predator Aircraft Goes Domestic with New Missions”
Genocea Biosciences Closes $23M Series A, Adds New CEO Bakali
Genocea Biosciences, a Cambridge, MA-based startup built around rapid vaccine discovery technology licensed from Harvard Medical School, says it has raised $23 million in a Series A round of financing and named biotech industry veteran Staph Leavenworth Bakali as its CEO. The firm’s first round was led by SR One, the venture arm of London-based … Continue reading “Genocea Biosciences Closes $23M Series A, Adds New CEO Bakali”
Symform, Founded by Ex-Microsoft Pair, Offers Cheap, Efficient Data Storage in the Cloud
It could be the most exciting cloud-computing startup you’ve never heard of. It’s two guys in a room overlooking Lake Union, in a hard-to-spot building next to the Fremont Bridge. And it uses Amazon Web Services and other people’s computers to do data storage, backup, and retrieval in the Internet cloud. It’s called Symform—a stealthy … Continue reading “Symform, Founded by Ex-Microsoft Pair, Offers Cheap, Efficient Data Storage in the Cloud”
CEO Gerngross Says Deals Around Adimab’s Yeast-Based Antibody Discovery Technology Are Progressing
Adimab is taking an uncommon approach to exploiting the value of its antibody-discovery technology. The Lebanon, NH-based biotech startup has no plans to ever develop its own drugs—CEO Tillman Gerngross says he thinks Adimab can become successful with income from drug-discovery and licensing deals alone. That is the level of confidence that Gerngross apparently has … Continue reading “CEO Gerngross Says Deals Around Adimab’s Yeast-Based Antibody Discovery Technology Are Progressing”
Vertex Raises $320M in Secondary Stock Offering
Vertex Pharmaceuticals has struck a deal to raise a jaw-dropping $320 million in a secondary offering of stock. The biotech company, which has 1,300 employees at its Cambridge, MA headquarters and 200 in San Diego, is rallying investors around drug candidates that it hopes will set new standards of effectively treating hepatitis C and cystic … Continue reading “Vertex Raises $320M in Secondary Stock Offering”