Category: National

Near Record Pace of Private Equity Fund-Raising Hit Wall in September

Fund-raising by private equity firms slowed dramatically during the last three months of 2008, so much so, in fact, that an analysis shows an 18 percent overall decline among fund-raising by U.S. firms compared to 2007—all of it due to the Q4 meltdown. An analysis published today in the Dow Jones Private Equity Analyst newsletter … Continue reading “Near Record Pace of Private Equity Fund-Raising Hit Wall in September”

Anadys Shares Boom on Hepatitis C Finding

Anadys Pharmaceuticals is skyrocketing today. Shares in the San Diego-based biotech shot up more than 80 percent after it reported its experimental hepatitis C drug was able to wipe out more than 99 percent of the virus from the blood in the first 72 hours. As we described today in an interview with CEO Steve … Continue reading “Anadys Shares Boom on Hepatitis C Finding”

Polaris Antes Up for JibJab’s Third Round

When I got an “ElfYourself” e-greeting from my brother’s family before Christmas 2007, I remember being surprised that the free greeting, though sponsored by OfficeMax, was actually powered by JibJab, the Venice, CA, Web startup that made its name during the 2004 presidential campaign with its irreverent “This Land” video.” The switch from animated parodies … Continue reading “Polaris Antes Up for JibJab’s Third Round”

Not Everyone is Shrinking: Business Analytics Technology Fuels Expansion at ParAccel

At a time when many tech companies are reducing their payrolls, San Diego’s ParAccel just announced it’s moving into a new headquarters to accommodate its rapid growth. The venture-backed company, which develops business analytics technologies that accelerate database queries, says its workforce has doubled to 60 people over the past year. “It’s great to be … Continue reading “Not Everyone is Shrinking: Business Analytics Technology Fuels Expansion at ParAccel”

Kauffman Foundation Entrepreneur Fellowship Program Launches in Boston and Silicon Valley

Right now there’s really only one great educational institution for those who want to learn how to be an entrepreneur, and it’s called the School of Hard Knocks. That isn’t to say there aren’t some wonderful classes and programs in entrepreneurship at places like MIT, Stanford, and other universities. But those are typically short-lived courses … Continue reading “Kauffman Foundation Entrepreneur Fellowship Program Launches in Boston and Silicon Valley”

Microsoft Lands Verizon Deal, Loses Office Space, Battles Layoff Rumors—A Seattle Primer

For those of you suffering from Microsoft overload these past few days, I’ve put together a quick roundup of the most locally relevant news from the software giant. Most of it happened away from CEO Steve Ballmer’s keynote at the Consumer Electronics Show in Las Vegas last night. —Microsoft beat out Google and Yahoo to … Continue reading “Microsoft Lands Verizon Deal, Loses Office Space, Battles Layoff Rumors—A Seattle Primer”

Clean Power Research Looks to Tap Seattle Software Developers for Solar Projects

On a grey winter day, it might not seem like Seattle has much to contribute to the solar power industry. But cleantech and IT are converging in the Northwest these days. And what we lack in sunshine we make up for in software developers, according to Jeff Ressler, head of the software division of Clean … Continue reading “Clean Power Research Looks to Tap Seattle Software Developers for Solar Projects”

Huya Bioscience Taps Into China For Novel Drug Candidates

If there was an “ah-ha!” moment for Huya Bioscience International, it occurred in 2004, when founder Mireille Gingras was working as a consultant for mid-size biotech companies. “I was looking for opportunities for in-licensing compounds in China when I found a very interesting drug for Alzheimer’s,” Gingras recalls. The potential for the Chinese drug in … Continue reading “Huya Bioscience Taps Into China For Novel Drug Candidates”

Hepatitis C Drug From Anadys Shows Quick Virus-Killing Punch

An early peek at data from Anadys Pharmaceuticals (NASDAQ: [[ticker:ANDS]]) suggests the company may have a promising new drug in the works for hepatitis C. The San Diego-based biotech is announcing results today from the first eight patients with the chronic liver infection, which shows its drug has more viral killing pop in the first … Continue reading “Hepatitis C Drug From Anadys Shows Quick Virus-Killing Punch”

Spark Capital Heads List of Boston VCs Most Exposed to Web 2.0 Tailspin

Updated, Jan. 8, 8:40 am—see below: Everyone knows that when it comes to Internet investing, New England VCs are low flyers compared to their high-flying Silicon Valley counterparts—and a lot of folks around here are always asking why Boston investors can’t be more like the Web venture gurus out west. Well, turns out New England … Continue reading “Spark Capital Heads List of Boston VCs Most Exposed to Web 2.0 Tailspin”

Stopping Alzheimer’s Cold: Satori Raises $22M to Pursue Its Vision

Satori Pharmaceuticals has a dream of being the world’s first company to stop the progressive loss of memory and cognition caused by Alzheimer’s disease. Today, Cambridge, MA-based Satori will announce it has raised enough money to put its vision to the test, with $22 million in venture capital to develop drugs that halt the disease … Continue reading “Stopping Alzheimer’s Cold: Satori Raises $22M to Pursue Its Vision”

Zymo Boss Sees Immunex Parallel, Arch Startup Bags $7M, Northstar Folds, & More Seattle-Area Life Sciences News

The news cycle for Seattle biotech is revving up again, after everybody but the lab mice took a rest during the holidays. We found some predictable doom and gloom (the shutdown of Northstar Neuroscience) to go with a more upbeat exclusive about a cancer drugmaker emerging in town (Qwell Pharmaceuticals.) Here are the past couple … Continue reading “Zymo Boss Sees Immunex Parallel, Arch Startup Bags $7M, Northstar Folds, & More Seattle-Area Life Sciences News”

OLPC Lays Off Half Its Staff—Refocusing Mission and Talking About the $0 Laptop

The One Laptop Per Child Foundation, the great dream of MIT Media Lab founder Nicholas Negroponte to bring low-cost, educational computing to children in the world’s developing nations and beyond, announced today a major layoff and refocusing of its mission. Only 32 staff will remain, about half the current number, according to Negroponte’s post on … Continue reading “OLPC Lays Off Half Its Staff—Refocusing Mission and Talking About the $0 Laptop”

EMC Cuts Put 2,400 Out of Work

EMC, the Hopkinton, MA-based data storage company that is one of the state’s largest tech employers, said today in an after-hours announcement that is cutting 2,400 people from its worldwide workforce. That’s a 7 percent reduction, based on the company’s size as of September 30. Though it expects to book record revenues of $4 billion … Continue reading “EMC Cuts Put 2,400 Out of Work”

Neural Audio Acquired by DTS for $7.5M

Kirkland, WA-based Neural Audio, a digital sound company, has been acquired by DTS (NASDAQ: [[ticker:DTSI]]), a technology and entertainment firm in Agoura Hills, CA. The purchase price was $7.5 million in cash, with DTS also agreeing to pay up to $7.5 million more over the next five years if certain conditions are met. No other … Continue reading “Neural Audio Acquired by DTS for $7.5M”

ClickSquared, RatePoint Close Series B Rounds

Two local Internet-based marketing companies disclosed news of Series B funding rounds this week. ClickSquared, based in Needham, MA, said in a release yesterday that it has closed an $11 million Series B round led by JMI Equity, ABS Venture, and Flybridge Capital Partners. The company offers a software-as-a-service system that clients can use to … Continue reading “ClickSquared, RatePoint Close Series B Rounds”

Highland’s Blossomless Bet on Blue Tulip—Retailer Seeks Bankruptcy Protection

Highland Capital Partners is feeling the pinch of the reeling retail market. The Lexington, MA, venture fund has a 44-percent ownership stake in Blue Tulip, a New York-based chain of specialty gift shops that has filed for bankruptcy protection and plans liquidation sales at its 24 stores, according to a PE Hub report. Highland’s share … Continue reading “Highland’s Blossomless Bet on Blue Tulip—Retailer Seeks Bankruptcy Protection”

Drug Manufacturing in Bioengineered Goats: FDA Says It Looks Safe

Would you take a drug made from the milk of a genetically modified goat? A committee of expert advisers to the FDA will take a swing at that question, weighing the safety and effectiveness of such a treatment on Friday. The U.S. drug regulator is seeking advice on whether to approve an application from Framingham, … Continue reading “Drug Manufacturing in Bioengineered Goats: FDA Says It Looks Safe”

San Diego’s Forward Ventures Moves Toward a Lean and Virtual Future

Speculation has been rampant in recent months about the future of San Diego’s Forward Ventures, which has been one of the region’s leading life sciences VC firms for more than 15 years. Partner Joel Martin, who joined Forward in 2001, left the firm in October and another partner, Stuart Collinson, is said to be leaving … Continue reading “San Diego’s Forward Ventures Moves Toward a Lean and Virtual Future”

Is Failure a Black Mark for Seattle Innovators? Insights from Erik Benson of Voyager Capital

Erik Benson is a quantum particle. OK, that’s the only metaphor I can think of to explain how he can be in so many places at once. The managing director of Voyager Capital is based in Seattle, but his orbit also includes Portland, OR, Silicon Valley, and San Diego. From what I can tell, he’s … Continue reading “Is Failure a Black Mark for Seattle Innovators? Insights from Erik Benson of Voyager Capital”

The Lowdown on Angel Capital from CommonAngels’ James Geshwiler

For startup entrepreneurs who need less than $5 million in capital, the venture capital industry might as well not exist. The average U.S. venture capital fund has doubled in size since 2000 to over $200 million, according to Dow Jones/VentureOne. That means most venture partners see investments of under $5 million as a waste of … Continue reading “The Lowdown on Angel Capital from CommonAngels’ James Geshwiler”

Forma Emerges With Well-Formed Cancer-Drug Strategy, Biogen Idec Preps for Parkinson’s Drug Data, Endo Buys out Indevus, & More Boston-Area Life Sciences News

We’ve got some M&A activity, some board-room drama, and some cool new companies and drug-development strategies–the year’s off to an interesting start for New England’s life sciences firms. —Forma Therapeutics, flush with $25 million from the likes of the Novartis Option Fund and Singapore’s Bio*One Capital, emerged from stealth mode to unveil its strategy for … Continue reading “Forma Emerges With Well-Formed Cancer-Drug Strategy, Biogen Idec Preps for Parkinson’s Drug Data, Endo Buys out Indevus, & More Boston-Area Life Sciences News”

How Blist Got Involved with Obama—the Inside Story

A Seattle startup is playing an important role in helping President-elect Barack Obama’s transition team get organized. As of yesterday, the Obama-Biden Transition Project has been using technology from Blist (pronounced as one syllable, and spelled with a lowercase “b” by its employees) to power its Change.gov website. The company’s software lets people create, manage, … Continue reading “How Blist Got Involved with Obama—the Inside Story”

Molecular Insight Pharma Director Barlow Resigns Over Rift with Board

The former CEO and chairman of Molecular Insight Pharmaceuticals (NASDAQ:[[ticker:MIPI]]), David Barlow, resigned from the firm’s board of directors last week over differences with fellow directors, according to a press release from the Cambridge, MA-based company. The exact nature of those differences is unclear, but Barlow alluded to “significant and sustained disagreements…regarding business philosophy, strategy … Continue reading “Molecular Insight Pharma Director Barlow Resigns Over Rift with Board”

Proclaiming the iPod is Dying, MP3.com’s Founder Launches A Web Site for Downloading Music to Your Cell Phone

San Diego’s MP3.com founder Michael Robertson says the iPod is dying and in a few years, “it will be just a footnote in history.” Robertson recently predicted the passing of the enormously successful Apple music player in a provocative blog entry that argues mobile phones are destined to become the next-generation music player. He also … Continue reading “Proclaiming the iPod is Dying, MP3.com’s Founder Launches A Web Site for Downloading Music to Your Cell Phone”

Broad Institute Scientists’ Forma Therapeutics Raises $25M, Aims to Knock Out Underpinnings of Cancer

Forma Therapeutics, a startup company co-founded by scientists at the Broad Institute of Harvard and MIT, has raised $25 million to create drugs that build on research that has yielded clues about the root genetic causes of what makes a cell turn cancerous. Forma, based in Cambridge, MA, was formed 2007 to generate drug compounds … Continue reading “Broad Institute Scientists’ Forma Therapeutics Raises $25M, Aims to Knock Out Underpinnings of Cancer”

EMC Buys SourceLabs, Qwell Raises $7M, Microsoft Layoff Rumors Rebuffed (For Now), & More Seattle-Area Deals News

It’s been a pretty slow couple of weeks for deals in the Northwest, what with the holidays. But there were still some big ones in software and biotech—starting with an Xconomy exclusive below. —Xconomy broke the news this morning that Seattle-based Qwell Pharmaceuticals has raised a $7 million Series A round led by Arch Venture … Continue reading “EMC Buys SourceLabs, Qwell Raises $7M, Microsoft Layoff Rumors Rebuffed (For Now), & More Seattle-Area Deals News”

Cleantech Engine Revved In ’08—Deals to Remember

These are the salad days for the Boston area’s developers of alternative energy and clean technologies. Such firms had no problem landing big deals with corporate partners, governments, and investors in 2008. At the risk of sounding whimsical, the standout cleantech deals in 2008 provoked thoughts of a not-so-distant future when, for example, advanced batteries … Continue reading “Cleantech Engine Revved In ’08—Deals to Remember”

Qwell Pharmaceuticals, Backed by Arch, Raises $7M for New Cancer, Inflammation Drugs

Xconomy has learned that Qwell Pharmaceuticals, a Seattle-based drug developer in stealth mode, has raised $7 million in a Series A financing. The investment was led by Arch Venture Partners and the Wellcome Trust, the world’s second-biggest charitable foundation for biomedical research. Qwell’s goal is to develop a new family of small-molecule drugs, derived from … Continue reading “Qwell Pharmaceuticals, Backed by Arch, Raises $7M for New Cancer, Inflammation Drugs”

The Bright Side of Nuclear Winter: Opportunities in the New, New Economy

During the Internet revolution of the late ’90s, a well-known investor at a “Keiretsu Forum” boldly proclaimed that the division of the Internet landscape was akin to the great land grab of the 19th century. “In two years it will all be over,” he predicted. He was right, but for precisely the wrong reason. Two … Continue reading “The Bright Side of Nuclear Winter: Opportunities in the New, New Economy”

Indevus, Maker of ‘Male Menopause’ Drug, Agrees to $370M Takeover by Endo

Indevus Pharmaceuticals has reached the end of its road. The Lexington, MA-based biotech company (NASDAQ: [[ticker:IDEV]]) said today it has agreed to be acquired by Endo Pharmaceuticals for $370 million, or $4.50 a share in cash. The acquisition, approved by the boards of both companies, also has a sweetener clause which could kick in another … Continue reading “Indevus, Maker of ‘Male Menopause’ Drug, Agrees to $370M Takeover by Endo”

Northstar Neuroscience Shuts Down, Ending Experimental Depression Trial

Northstar Neuroscience is toast. The Seattle-based medical device company, which failed to develop an electrical stimulation machine that would enable stroke patients to regain arm movement, said today its board has decided to shut down the company and liquidate its assets. The company (NASDAQ: [[ticker:NSTR]]) will lay off most of its remaining employees as it … Continue reading “Northstar Neuroscience Shuts Down, Ending Experimental Depression Trial”

EMC Confirms Acquisition of Some SourceLabs Assets and Staff to Bolster Cloud Business, Denies Swik.net Part of Deal

EMC has acquired some of the assets and personnel of Seattle’s SourceLabs and will integrate them into its cloud computing business, the Hopkinton, MA-based company confirmed today. But contrary to news reports over the weekend, EMC has not acquired all of SourceLabs—nor has it acquired the Swik.net open-source documentation project run by SourceLabs, an EMC … Continue reading “EMC Confirms Acquisition of Some SourceLabs Assets and Staff to Bolster Cloud Business, Denies Swik.net Part of Deal”

Survey Shows VC-Backed IPOs Hit 31-Year Low In ’08

Venture-backed companies are no doubt ready to put 2008 in the past. Year-end reports show a dismal number of initial public offerings and M&A deals last year, after a flurry of tech companies canceled plans to go public and buyout activity slowed to its lowest level in five years.  Thomson Reuters and the National Venture … Continue reading “Survey Shows VC-Backed IPOs Hit 31-Year Low In ’08”

Qualcomm Strikes Deal With China’s Largest Cell Phone Maker, Volcano Moves to Buy Axsun, Life Technologies Buys Visigen, & More San Diego BizTech News

Innovation never sleeps, but the pace of San Diego business and technology news yawned a little over the Christmas and New Year holidays. Still, there were plenty of noteworthy developments to round up for the first Monday of 2009. Oh, and by the way, Happy New Year!The end of December brought news from faraway China … Continue reading “Qualcomm Strikes Deal With China’s Largest Cell Phone Maker, Volcano Moves to Buy Axsun, Life Technologies Buys Visigen, & More San Diego BizTech News”

How to Integrate an Acquired Company: Lessons from IBM

These days, mergers and acquisitions are an increasingly important part of corporate strategy. But when one company acquires another, a lot of things have to happen to make the deal right. In fact, most mergers fail—and most of the time, it’s not because of the strategy behind the deal or the negotiation process. Instead, the … Continue reading “How to Integrate an Acquired Company: Lessons from IBM”

Biogen Idec Takes Aim at New Parkinson’s Paradigm

Biogen Idec will get an early glimpse next week into whether it has created an important new innovation for Parkinson’s disease. If the company’s drug candidate lives up to its promise, it could be one of the early movers in a new class of medicines that minimize the secondary symptoms and keep standard therapy from … Continue reading “Biogen Idec Takes Aim at New Parkinson’s Paradigm”

ZymoGenetics’ New Boss Sees Parallels to Dark Days at Immunex

ZymoGenetics is enduring one of the ugliest stretches in its 28-year history. Now the Seattle-based biotech company is hoping that Doug Williams, an executive who lived through both the darkest days and finest moments at Immunex in the 1990s, will be able to engineer one more turnaround. Williams, 50, took over as CEO of ZymoGenetics … Continue reading “ZymoGenetics’ New Boss Sees Parallels to Dark Days at Immunex”

India’s Innovation Front Lines, Part 7: Of Trains, Countryside, and The Great Indian Laughter Challenge

Mumbai-Delhi, Tuesday, December 23—I boarded the overnight train to Delhi at Bombay Central Terminal (the mixed use of old and new city names for Bombay is a metaphor for old and new India—the old structures retain the original Bombay, and everything new is named Mumbai). I had forgotten to print out my e-ticket and was … Continue reading “India’s Innovation Front Lines, Part 7: Of Trains, Countryside, and The Great Indian Laughter Challenge”

Hey Life Sciences Fans, Remember The Deals Back in 2008…

I recently had coffee with a venture capitalist at the Starbucks across the street from Biogen Idec’s (NASDAQ:[[ticker:BIIB]]) headquarters in Kendall Square, and he asked me what I thought were the biggest life sciences deals of 2008. The question is really tough to answer, both because the answers are somewhat subjective and I didn’t want … Continue reading “Hey Life Sciences Fans, Remember The Deals Back in 2008…”

What Will Change Everything?

What game-changing scientific ideas and developments do you expect to live to see? The Internet, television, antibiotics, automobiles, electricity, nuclear power, space travel, and cloning—these inventions were born out of dreams, persistence, and imagination. What game-changing ideas can we expect to see in OUR lifetimes? As each year winds to a close, John Brockman, a … Continue reading “What Will Change Everything?”

10 Technology Predictions From The Startup Whisperer

Here are my 2009 technology predictions. It was getting harder and harder since my post is starting to look a lot like everyone else’s posts. I look forward to a better year for the world in 2009. Drum roll please… 10. Video finally takes off Overall consumption of video increases significantly on Web. I have … Continue reading “10 Technology Predictions From The Startup Whisperer”

Five Bands Selected to Compete in Xconomy’s Battle of the Tech Bands 2

The suspense is over—or is just starting, depending on your point of view. After reviewing dozens of MP3s and MySpace pages, and convening an epic, knock-down, drag-out selection meeting, Xconomy’s editors and guest judges have picked five bands—Anomopoly, The Dirty Truckers, EneROCK, The Main Drag, and Seymore Willie—to compete for audience approbation and big prizes … Continue reading “Five Bands Selected to Compete in Xconomy’s Battle of the Tech Bands 2”

Can’t Take My Eyes Off Of You: The Untold Story of How a San Diego VC Backed Broadway’s Jersey Boys

Among San Diego’s venture capitalists, I’d say that Kevin Kinsella ranks among the foremost riskophiles. Since the formation of his first Avalon Ventures fund some 25 years ago, he has shown a willingness to take chances where even angels fear to tread—and an uncanny knack for making the right bet. Kinsella’s success in backing—and often … Continue reading “Can’t Take My Eyes Off Of You: The Untold Story of How a San Diego VC Backed Broadway’s Jersey Boys”

Seattle’s Top 10 Innovation Stories of the Half-Year (and Others We Just Plain Liked)

OK, I’m not usually a big fan of end-of-the-year lists. But given that Xconomy Seattle has been up and running for almost exactly six months (since June 16), Luke and I thought it would be fun and informative to share our site’s top 10 most-read stories so far—and why we think they were important or … Continue reading “Seattle’s Top 10 Innovation Stories of the Half-Year (and Others We Just Plain Liked)”

A Mini-Cluster of Algae-to-Biofuels Technology Blooms in San Diego

When I sat down recently with Mario Larach, he was still excited about a U.S. Department of Energy workshop he had attended on algae biofuels earlier this month at the University of Maryland. As the co-founder of a local biofuel startup called Kai BioEnergy, Larach has been tracking a nationwide surge of interest in algae-to-biofuel … Continue reading “A Mini-Cluster of Algae-to-Biofuels Technology Blooms in San Diego”

Procrastinating On Giving? A Last-Minute Guide to Seattle-Area Innovation Charities

Lots of people put off giving to charity until the last couple days of the year when you can still get the tax deduction (including some of us here at Xconomy). We know this year has been rough, but for those of you who can still give, we put together a list of organizations that … Continue reading “Procrastinating On Giving? A Last-Minute Guide to Seattle-Area Innovation Charities”

Of Drivable Airplanes, Hair-Raising, OLPC, Card-Counting, Black Silicon, & More: New England’s Top Innovation Stories of 2008

What did the New England innovation community devote itself to, struggle with, and just plain obsess over in 2008? Well, as you might expect, the answer was far different from 2007. Last year at this time we were reminiscing about iRobot’s legal battles with Robotic FX, the upheaval at Mitsubishi’s computer research lab in Cambridge, … Continue reading “Of Drivable Airplanes, Hair-Raising, OLPC, Card-Counting, Black Silicon, & More: New England’s Top Innovation Stories of 2008”